Daily Stock Market News - Oct 31, 2009

Posted by admin in News on Nov 2nd, 2009 | no responses

October 31, 2009 :: Daily Indian Stock Market News

CIT Group, a top american lender which lends to small businesses across USA, filed for bankruptcy protection under Chapter 11. In terms of the asset value the CIA stands as the fifth biggest bankruptcy case with more than $71 billion.
Ford India announced encouraging sales number with near 100% sales growth in October with sales of 3,458 units.
Ford, which got government aid recently reported surprising turnaround in sales with net income of nearly 1 billion in third quarter and said the 2010 will be bright for Ford.
Mahindra & Mahindra, reported around 32% increase in domestic sales of its utility vehicles in October.
RCom (Reliance Communications), second biggest mobile telecom company in India, announced that it is evaluation ‘per-second billing’ tariff option to its customers.
Comptroller and Auditor General (CAG) has formed a high-level team for auditing RIL’s expenses on KG D-6 fields. This team will start its auditing this month itself. Its also going to check the accounts of Cairn and BG Group.
Tata Motors is planning to produce its land mark people’s vehicle Nano as ‘Assembled-Nano’ which allows distributed manufacturing. This allows Tata Nano cars to be assembled outside the factories.