Maruti Stingray launched at Rs. 4.10 lakh

 Looking to beat the slowdown blues, India's largest carmaker Maruti Suzuki India today launched compact car Stingray, priced at Rs. 4,10,000 (ex-showroom Delhi).

"With Stingray, we carry forward our focus to make our best sellers even more attractive," managing director and CEO Kenichi Ayukawa said.

The Stingray, which is powered by a 998 cc petrol engine, is available in three variants, with price ranging between Rs. 4,10,000 and Rs. 4,67,000.

In July, the company posted 10.88 per cent increase in its passenger car sales at 63,040 units.

Car sales in India had fallen for a record ninth month in a row in July, posting a 7.4 per cent decline.

According to the latest data released by the SIAM, domestic passenger car sales declined to 1,31,163 units in July this year from 1,41,646 units in the same month of 2012.

Nike sues Virat Kohli for breaching contract

The Karnataka High Court on Wednesday ordered issuance of emergent notice to cricketer Virat Kohli on a suit filed by sports giant Nike accusing him of breach of an endorsement contract with it.

Justice Huluvadi G Ramesh directed Kohli to maintain status quo for the next four weeks regarding endorsement deal signed with Nike and adjourned the case.

In its suit filed on Tuesday, Nike claimed Kohli had breached the contract by disagreeing to continue as its brand ambassador till 2014. The five-year contract from 2008 was extendable by one year.

An Indian Express report says that Nike had entered into a contract with Virat Kohli from 1 January 1, 2007 to 31 December 31, 2007. The deal was renewed for the period between 1 August 2008 and 31 July, 2013 for exclusive endorsement rights.

According to The Hindu, Kohli was paid Rs.1.42 crore for the contract that carried a clause for extension for another year i.e. till 31 July, 2014 with certain conditions.

Nike, in its suit, has pleaded with the court to restrain Kohli from entering into or negotiating any endorsement deal with any third party until the expiry of the deal, company counsel Aditya Sondhi said

Four students who ragged Aman Kachroo to death freed on 'good conduct'

Four medical students, who were convicted of ragging their junior Aman Kachroo to death in a Himachal Pradesh college four years ago, have been freed before completing their four-year rigorous jail term.

The students were freed after the Himachal Pradesh government decided to write off their remaining sentence on account of their 'good conduct' and allow them to complete their medical course at a medical college in Kangra. But they will be barred from government jobs.

In 2009, Aman Kachroo, a first-year student at a medical college in Himachal Pradesh was severely and persistently ragged by seniors who were allegedly drunk.  On March 7, 2009, his four seniors attacked him so brutally in the boys' hostel that he was rushed to hospital the next day.

The post-mortem showed that the 19-year-old had died of a brain hemorrhage.
A probe panel appointed by the Supreme Court after national outrage found that the teenager had repeatedly complained to the college and asked for help, but was ignored.

Ajay Verma, Naveen Verma, Abhinav Verma and Mukul Sharma were convicted and sentenced in 2010.

Kachroo's death led to the introduction of new guidelines at colleges across the country to protect students from ragging.

Rupee breaches 65 per dollar to record low, Nifty sinks below 5300

The Indian rupee breached the 65 mark against the dollar on Thursday surpassing the previous all-time low of 64.55 hit just yesterday. The partially convertible rupee fell over 1.5 per cent to a low of 65.12 against Wednesday's close of 64.11.

Markets tracked the rupee, opening lower for the 5th consecutive session. The 50-share Nifty slipped below the key 5,300 levels in early trades, but recovered as the rupee pulled back from the day's low.

The BSE Sensex traded around 50 points higher, while the rupee traded at 64.90 to the dollar as of 10.10 a.m.
The rupee weakened tracking the strength in the dollar index, which measures the greenback versus a basket of six currencies. The dollar index rose to 81.422, from a low of 80.896.

Fresh weakness in the rupee comes after minutes from the Federal Reserve's July policy meeting showed the U.S. central bank was on track to start tapering stimulus as early as next month.

Top officials of the Fed were mostly in agreement that the central bank should end its massive bond-buying program, which has been in place in one form or another since late 2008 to keep interest rates low and encourage economic growth.

A Deutsche Bank report on Wednesday had predicted the rupee's slide all the way to 70 in a month or so. (Read: Rupee staring at 70?)

The Reserve Bank of India has proven unable to stem the rupee's selloff, despite intervention and curbs on outflows from companies and individuals, which have dented India's stock and bond markets. The government continues with incremental steps, banning duty-free import of flat-screen televisions.

The RBI's announcement on Tuesday to reverse its tightening strategy and start buying bonds has further confused traders.

"In our view, the problem is that the RBI is trying to juggle too many balls, which sends confusing signals and damages its credibility," Nomura said in a report on Wednesday.

However, Arvind Narayanan of DBS bank told NDTV that it is unfair to blame the Reserve Bank.

 

Centuries by Suresh Raina, Rohit Sharma put India A in command against South Africa A

Rohit Sharma and Suresh Raina joined the run feast with superb centuries as India A posted a mammoth 582 for nine against South Africa A to take command of the first unofficial Test, in Rustenberg on Sunday.

Sharma scored 119 while Raina blasted 135 as the two overnight batsmen ripped apart the home bowling attack on the second day of the match.

India skipper Cheteshwar Pujara had struck 137 on Saturday to put his side in a strong position.

Sharma and Raina shared a 106-run partnership for the fourth wicket, which was broken when the former was caught by Temba Bavuma off JP Duminy at the fag end of the morning session.

India had resumed the innings at 281 for three and declared after rattling up a huge 582 for nine as Proteas failed to break the last-wicket stand between Shahbaz Nadeem (46) and Jaydev Unadkat (31).

The two batsmen added 82 runs for the last wicket.

South Africa were 20 for one in reply as Unadkat had opener Reeza Hendricks (10) caught behind.

Dean Elgar and Simon Harmer were at the crease when stumps were drawn for the day.

Rohit added another 49 runs to his overnight score before being dismissed, but not before tormenting Protea bowlers with 14 boundaries and two sixes.

It was Duminy who got the first breakthrough of the day when he had Rohit caught at the short leg by Temba Bavuma.
Joined by Ajinkya Rahane (10) in the middle, Raina continued to play his strokes, even as the the former got out cheaply when Duminy added another wicket to his kitty.
Duminy struck once again to get rid of Wriddhiman Shah (1) as India were reduced to 418 for six from 376 for four.

But that did not deter Raina from scoring at brisk pace. He brought up his ton in the 141st over.

And despite Duminy's successive strikes, Raina in the able company of Ishwar Pandey continued to torment home bowlers.

The duo added 79-runs for the seventh wicket. The partnership was broken in the third session of the day when Wayne Parnell castled Raina.

The left-hander's 135-run knock came off 177 balls with 14 fours and three sixes.

Pranell then got rid of Pandey and while Elgar removed Mohammed Shami (2).

However, Shahbaz and Unadkat frustrated the hosts bowlers with their rearguard action. They batted about 15 overs to add 82 runs to India's total.

With eye on polls, BJP sells onions at Rs. 25 per kg in Delhi

Trying to use the rocketing onion prices to its advantage ahead of Delhi assembly elections, state BJP on Sunday sold the onions for Rs. 25 per kg against the market rate of around Rs. 80, and lambasted the city government for its "total failure" in stabilising the rates.

Accusing the Delhi government of "inaction" in controlling the price of the vegetable, Delhi BJP president Vijay Goel demanded immediate removal of Food and Civil Supplies Minister Harun Yusuf for his "complete failure to regulate the wholesale vegetable markets and take action against hoarders.

"It is appalling the way Delhi government first mismanaged the onion crisis and is now expressing its helplessness to control prices," he said.

"This is typical of this government which has been expressing helplessness on every front -- be it price rise, hike in power tariffs, collapse of water supply, lack of development in unauthorised colonies and JJ clusters and growing crime against women," Mr Goel said.

The Delhi government is selling onions between Rs. 50-55 a kg at over 1,000 points across the city.

"This government is so insensitive that it has tried to garner publicity and brush this issue under the carpet by selling onions which are rotten and not fit for consumption," Mr Goel alleged.

Delhi BJP has been attacking the city government on the issue of high onion prices. It held demonstration outside Chief Minister Sheila Dikshit's official residence at 3, Motilal Nehru Marg in Central Delhi on Wednesday.

Incidentally, BJP was voted out of power in 1998 in Delhi following spiraling onion prices. The assembly polls in Delhi are slated for November.

LK Advani praises Narendra Modi at BJP conclave

BJP Parliamentary Party Chief L K Advani today surprised many at a party conclave when he praised Gujarat Chief Minister Narendra Modi, against whom he had taken jibes on Independence Day for criticising the Prime Minister.

Delivering the valedictory address at a meeting of the BJP Election Campaign Committee, state unit presidents and general secretaries in New Delhi today, the party patriarch praised the Gujarat Chief Minister for underscoring the need to strengthen the party at the booth level.

Mr Advani also praised Mr Modi for an earlier campaign he had launched asking young and first time voters, among others, to register themselves as voters with the Election Commission.

The senior leader said these aspects are very important as the main aim is to bring the voters to the booth and ensure that they cast vote.

Though Mr Advani also praised Leader of the Opposition Sushma Swaraj, her Rajya Sabha counterpart Arun Jaitley and BJP President Rajnath Singh, many were pleasantly surprised at his kind words for Mr Modi.

Mr Advani, who had resigned earlier this year in protest against Mr Modi's elevation as Election Campaign Committee Chief, had taken jibes at him for his attack on Prime Minister Manmohan Singh on Independence Day just three days ago.

While Mr Modi had made a scathing attack on the Prime Minister, Mr Advani had said Independence Day is not an occasion to criticise anybody.

In his address today, Mr Advani said BJP will achieve "record-breaking victory" in the Lok Sabha elections. He maintained that corruption of the Congress government and BJP's promise of good governance would be the theme of the polls.