Breaking News

According to TV reports, the Tatas have finally decided to roll out their dream Nano Car project from Gujarat. Tata Motors Chairman Ratan Tata and Gujarat CM Narendra Modi will address a joint press conference today to announce this much-awaited decision. Tatas’ decision to roll out Nano from Gujarat has come as a huge victory for Gujarat CM Narendra Modi who completes seven years in office today. According to sources, Tata Motors has selected Sanand, 25 km from Ahmedabad for the relocation of Nano plant. Tatas have already pulled out of Singur, West Bengal. The Gujarat government reportedly agreed to transfer 1,000 acres of land to Tata Motors. the land is located within the 2,200-acre campus owned by the Anand Agriculture University. The University has already transferred that land to the government. According to TV channels, both Tatas and Gujarat government officials are trying to reach a deal that will favour both parties and remove all confusions. The Tatas are on a high, as they are getting invitations from Karnataka, Andhra Pradesh, Maharashtra, Haryana, Orissa and many other states. It will be a prestige issue for Gujarat CM Narendra Modi and he will never let this opportunity go.

Within days of exiting from West Bengal, Tatas have decided to relocate their Rs 1 lakh-Nano car project in Gujarat, after scouting many sites including that Karnataka and Andhra Pradesh. Tata Group Chief Ratan Tata and the Chief Minister Narendra Modi would jointly announce the project in the state later in the day, officials said. Tatas have identified the site at Sanand, near Ahmedabad, where the state government will give 1,000 acres land from the Anand Agricultural University for housing the project. The new project site was finalised last evening after yet another visit by the Tata Motors officials, who in the last few days had scouted for possible locations in many other states. Ever since the Tatas faced political resistance in West Bengal for their project at Singur various state governments, including Karnataka and Andhra Pradesh, were in the race to woo Tatas to set the manufacturing facility for the cheapest car in the world.

Stocks tumbled around the world following the credit crisis that has ravaged the world financial markets, and even the Bombay Stock Exchange’s 30-share index — the Sensex — yo-yoed through the trading day. In the morning, the Sensex bucked the trend following the CRR cut by the Reserve Bank of India and the lifting of curbs on P-Notes by Sebi and was up 290 points at one point. It then started to plummet and lost over a 100 points to plummet to 11,700. The Sensex then rose once more by 104 points at 11,906, only to fall yet again. The Sensex is now down by 159 points at 11,642. The NSE Nifty too is down 27 points at 3,576. Ranbaxy has soared nearly 5% to Rs 258. DLF and NTPC have surged over 3.5% each to Rs 313 and Rs 175, respectively. ONGC and Reliance Infrastructure have rallied 3% each to Rs 1,011 and Rs 657, respectively. Reliance and Bharti Airtel have gained 2.7% each at Rs 1,687 and Rs 749, respectively. BHEL has moved up 2.4% to Rs 1,484. HDFC, Tata Motors, Jaiprakash Associates and Grasim are up nearly 2% each, ITC and Larsen & Toubro (L&T) have slumped 4.7% each to Rs 172 and Rs 1,033, respectively. Mahindra & Mahindra has tumbled 3.5% to Rs 485. Sterlite has plunged 3% to Rs 326. Satyam has shed 2.7% at Rs 286. TCS and HDFC Bank have slipped around 2% each to Rs 606 and Rs 1,179, respectively. Tata Power and Hindalco are down over 1% each at Rs 788 and Rs 95, respectively.

The bailout package failed to revive the mood in American market, as the Dow Jones shed 800 points to fall below 10,000-mark for the first time since 2004. While the European markets struggle to cope up with the credit crunch, the fall in US market, deepened the global financial crisis. The Dow Jones finally closed at 9,955 at the end of Monday’s trading. The recession fears are now looming large, as the markets across the world are going down. The US, European countries and Asian countries such as India and Japan are feeling the heat of credit crunch. The Federal Reserve (Fed) tried to revive the financial stability in the US market by increasing the amount of short-term lending money to $600 billion, but in vain.

 

Breaking News

According to TV reports, the Tatas have finally decided to roll out their dream Nano Car project from Gujarat. Tata Motors Chairman Ratan Tata and Gujarat CM Narendra Modi will address a joint press conference today to announce this much-awaited decision. Tatas’ decision to roll out Nano from Gujarat has come as a huge victory for Gujarat CM Narendra Modi who completes seven years in office today. According to sources, Tata Motors has selected Sanand, 25 km from Ahmedabad for the relocation of Nano plant. Tatas have already pulled out of Singur, West Bengal. The Gujarat government reportedly agreed to transfer 1,000 acres of land to Tata Motors. the land is located within the 2,200-acre campus owned by the Anand Agriculture University. The University has already transferred that land to the government. According to TV channels, both Tatas and Gujarat government officials are trying to reach a deal that will favour both parties and remove all confusions. The Tatas are on a high, as they are getting invitations from Karnataka, Andhra Pradesh, Maharashtra, Haryana, Orissa and many other states. It will be a prestige issue for Gujarat CM Narendra Modi and he will never let this opportunity go.

Within days of exiting from West Bengal, Tatas have decided to relocate their Rs 1 lakh-Nano car project in Gujarat, after scouting many sites including that Karnataka and Andhra Pradesh. Tata Group Chief Ratan Tata and the Chief Minister Narendra Modi would jointly announce the project in the state later in the day, officials said. Tatas have identified the site at Sanand, near Ahmedabad, where the state government will give 1,000 acres land from the Anand Agricultural University for housing the project. The new project site was finalised last evening after yet another visit by the Tata Motors officials, who in the last few days had scouted for possible locations in many other states. Ever since the Tatas faced political resistance in West Bengal for their project at Singur various state governments, including Karnataka and Andhra Pradesh, were in the race to woo Tatas to set the manufacturing facility for the cheapest car in the world.

Stocks tumbled around the world following the credit crisis that has ravaged the world financial markets, and even the Bombay Stock Exchange’s 30-share index — the Sensex — yo-yoed through the trading day. In the morning, the Sensex bucked the trend following the CRR cut by the Reserve Bank of India and the lifting of curbs on P-Notes by Sebi and was up 290 points at one point. It then started to plummet and lost over a 100 points to plummet to 11,700. The Sensex then rose once more by 104 points at 11,906, only to fall yet again. The Sensex is now down by 159 points at 11,642. The NSE Nifty too is down 27 points at 3,576. Ranbaxy has soared nearly 5% to Rs 258. DLF and NTPC have surged over 3.5% each to Rs 313 and Rs 175, respectively. ONGC and Reliance Infrastructure have rallied 3% each to Rs 1,011 and Rs 657, respectively. Reliance and Bharti Airtel have gained 2.7% each at Rs 1,687 and Rs 749, respectively. BHEL has moved up 2.4% to Rs 1,484. HDFC, Tata Motors, Jaiprakash Associates and Grasim are up nearly 2% each, ITC and Larsen & Toubro (L&T) have slumped 4.7% each to Rs 172 and Rs 1,033, respectively. Mahindra & Mahindra has tumbled 3.5% to Rs 485. Sterlite has plunged 3% to Rs 326. Satyam has shed 2.7% at Rs 286. TCS and HDFC Bank have slipped around 2% each to Rs 606 and Rs 1,179, respectively. Tata Power and Hindalco are down over 1% each at Rs 788 and Rs 95, respectively.

The bailout package failed to revive the mood in American market, as the Dow Jones shed 800 points to fall below 10,000-mark for the first time since 2004. While the European markets struggle to cope up with the credit crunch, the fall in US market, deepened the global financial crisis. The Dow Jones finally closed at 9,955 at the end of Monday’s trading. The recession fears are now looming large, as the markets across the world are going down. The US, European countries and Asian countries such as India and Japan are feeling the heat of credit crunch. The Federal Reserve (Fed) tried to revive the financial stability in the US market by increasing the amount of short-term lending money to $600 billion, but in vain.