WTW - 2 September - 8

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  • 7/27/2019 WTW - 2 September - 8 September.pdf

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    2nd Sep

    8th Sep

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  • 7/27/2019 WTW - 2 September - 8 September.pdf

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    Commodities & ForexEconomy & Markets

    The market maintained the firm trend even as thegovernment said growth in eight infrastructureindustries was 3.1 % in July as again against 4.5 % ayear earlier. An indicator of manufacturing sectoractivity in India contracted in August.

    The banking sector index rose by 9.99 per centafter Dr Rajan raised the overseas borrowing cap forbanks and said there is a need to cut investments bylenders in government securities. He also said bankswould soon be free to open branches.

    Indias slowest economic expansion since 2009adds pressure on Prime Minister Manmohan Singh tostem a slide in the rupee that forced the central bankto raise interest rates. Gross domestic product rose

    4.4% in the three months through June from a yearearlier, compared with 4.8% in the prior quarter.

    RBI's attempt to control the declining rupeehas contributed substantially to forex reservesdipping by a hefty $ 16.554 billion or 6 % to alow of $275.49 billion since the beginning of thisfiscal. According to latest RBI data, forexreserves plunged to $275.491 bn, which is a

    near 6% fall from $292.646 bn as of March 29.

    MCX Gold October opened last week at32,815 initially moved sharply higher, but foundvery good resistance at 34,549 levels. Laterprices fell sharply towards 31,564 and finallyclosed sharply lower from the previous weeksclosing levels.

    MCX Silver December opened last week at

    55,188 initially moved sharply higher but foundvery good resistance at 59,598. Later prices fellsharply towards 53,351 levels and finally closedlower from the previous weeks closing levels.

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    2 Sep 8 Sep

    Audi India sales record 21% growth in August 2013

    Audi, the German luxury car manufacturer, continues on its growth curve in 2013 even as the market

    conditions are challenging. The brand with the four rings has registered a sale of 6426 vehicles in

    January August 2013 period, a growth of 19 percent (Jan Aug 2012: 5406 cars). The company has

    sold 875 cars during August 2013, recording a growth of 21 percent (August 2012: 726 cars).

    Tata Motors August sales at 49,611 nos

    Tata Motors total sales (including exports) of Tata commercial and passenger vehicles in August 2013

    were 49,611 vehicles. The companys domestic sales of Tata commercial and passenger vehicles for

    August 2013 were 44,717 nos. Cumulative sales (including exports) for the company for the fiscal were

    254,355 nos.

    Ford India increases car prices by up to 5%

    Ford India has increased prices by 1-5% on different models with immediate effect, according to

    reports. Report said that Ford India's models in India include compact car Figo, sedan Fiesta.

    The prices will be increased in the range of 1% to 5% across majority of Ford's products depending on

    specific model

    Tata Motors to go ahead with Rs30 bn investment

    According to reports, Tata Motors will move ahead with investment of Rs 30bn in the current financial

    year. Report said that the company is yet to take a decision on Hispano Carrocera's operations due to

    the slowdown in Europe. Tata Motors is expecting increase in passenger car sales in the festive

    season, report said.

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