1. Tata Motors to raise Rs.9,000 Cr (US$2.10 billion) through a combination of rights issue and an overseas offering to fund its Jaguar-Land Rover buyout. Tata Motors is listed on the New York Stock Exchange through the depository route.
2. Tatas face tough EU emission norms on Jaguar and Land Rover. The new CO2 emission norms will be effective from 2012.
3. Indian oil companies to limit sale of motor fuels due to limit its losses.
4. Soaring oil prices force airlines to cut growth plans. Air traffic in April drops over last year.
5. Oil prices dropped below US$129 a barrel, falling sharply on a growing sense that soaring gas and oil prices have cut demand for fuel. Low demand concerns are weighing on the market.
6. The BSE ‘s 30-share sensex ended at 16,525, a rise of 250 points. In bullion market, gold closed at Rs.12,405/10gm and silver at Rs.24,170/kg.
7. Builders can not misuse society land. The High Court has said that builders have to make a “true and full disclosures” about housing projects while signing sale deeds.
8. In a bid to minimize the impact on inflation, the Prime Minister’s Economic Advisory Council has asked the Indian government to pay its employees in phased manner when implementing the Recommendations of the Sixth Pay Commission. The suggestion is to deposit part of the arrears of Rs.18,000Cr, in employee’s provident fund account.
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