The Telegraph
Since 1st March, 1999
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Business Briefs

Car sales lose speed in August

New Delhi, Sept. 15: Maruti led the slowing down of domestic car sales in August to 6.7 per cent. Auto sales, however, had witnessed high growth in the previous four months. Terming the slowdown as ‘temporary’ due to a prolonged strike at a major supplier of a vital engine component to Maruti, market analysts projected a continued increase in car sales where Hyundai and Tata Motors have been performing above the industry average. According to the Society of Indian Automobile Manufacturers, total car sales rose to 53,177 units in August 2003, from 49,828 in the same month last year.

Trai note

New Delhi, Sept. 15: Trai today pulled up cellular operators for activating auto-roaming for pre-paid subscribers without their consent and directed them to discontinue such practice within five days.

Icra warning

New Delhi, Sept. 15: Credit rating agency ICRA today warned that power generation and distribution companies would be subject to significant market risks in the long run following the passage of the new electricity bill which seeks to introduce greater competition.

Corsa launch

New Delhi, Sept. 15: General Motors India today launched a limited edition of its mid-size car, Corsa Royale, in a bid to increase sales. The car has been priced at Rs 6,67,500, a release said.

BoB plan

New Delhi, Sept. 15: Bank of Baroda is likely to merge its housing finance arm with itself in view of duplicating loan portfolio and increased cost of deposits. It also needs to maintain separate capital adequacy for BoB Housing Finance.

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