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Govt to transfer mgmt control of 3 sick units to RINL
In its efforts to revive ailing public sector units under the steel ministry, the government today decided to hand over management control of three sick units to steel major Rashtriya Ispat Nigam (RINL).

Kingfisher Airlines to raise up to Rs 500 cr through equity
Kingfisher Airlines, owned by UB Group, is planning to raise up to Rs 500 crore through issue of further share capital. Company officials indicate that this may be through a number of options including a follow-on public or rights issue.

News of the day

Nifty likely to fall below 4,910
The Nifty futures closed in a Doji pattern after a gap-up opening. This indicates that futures and options (F&O) traders are wary of taking positions on either side. Trading in the Nifty options on Tuesday suggested that the index might fall below 4,910 in the near future.
Small Business

GM India unravels Chevrolet Cruze

US car maker General Motors today launched its luxury sedan Chevrolet Cruze in India at an introductory price ranging from Rs 10.99 lakh to Rs 12.45 lakh (ex-showroom, Delhi). - GM nears $150 million Hummer sale to Tengzhong - GM to wind down Saturn after failed talks - GM India to open five more used car centres - GM, Reva tie up for electric vehicles - GM India expects 50% growth in 2010 - GM in pact with Reva for producing electric vehicles "The Cruze has been receiving rave reviews since its recent debut in some other markets. We expect it to perform well against the established D-segment players," General Motors India President and Managing Director Karl Slym told reporters here. The company has rolled out the car with a 2.0 litre diesel engine in two different variants. It claims that the car would give a mileage of 18.3 kilometre per litre, according to the Automotive Research Association of India (ARAI) standards. The Cruze is currently being rolled out in many countries across the globe. "GM"s investments in manufacturing the Cruze in India is a demonstration of our sustained commitment to making Chevrolet the most admired and preferred vehicle brand in this country," Slym added. The company had earlier said that the diesel version of Cruze would be followed with the roll out of a 1.8 litre petrol variant in the months to come. GM India had also said that it would go ahead with the launch of its long-expected mini car, named and developed on "Beat" platform by end of this year. The car is expected to be priced around Rs 4 lakh. Besides, GM India has also geared up to introduce its small car Spark with a 800cc petrol engine in 2010.


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