China economy see weakest growth since 2009
China posted its weakest quarterly economic growth since the global financial crisis on Monday, raising pressure on policymakers to cut interest rates further and roll out other support measures to avert a sharper slowdown. Chinese leaders have been trying to reassure jittery global markets for months that the economy is under control after a shock devaluation of the yuan and a summer stock market plunge fanned fears of a hard landing.
Maruti launches Ciaz RS variant at Rs 9.2 lakh
Maruti Suzuki India on Monday launched a variant of its mid-sized sedan Ciaz priced at Rs 9.2 lakh and Rs 10.28 lakh (ex-showroom Delhi). The Ciaz RS variant will be available in both petrol and smart hybrid diesel options. While the petrol variant is priced at Rs 9.2 lakh, the smart hybrid diesel option is tagged at Rs 10.28 lakh (prices ex-showroom Delhi), the company said in a statement.
HCL Tech Q1 net profit dips 2.7% to Rs 1,823 cr
India's fourth-largest software services provider HCL Technologies has reported a 2.7 per cent drop in consolidated net profit at Rs 1,823 crore for the first quarter ended September 30, 2015. The company had posted a net profit of Rs 1,873 crore in the year-ago period, it said in a BSE filing. HCL had already warned of a "tepid" September quarter on account of adverse currency impact and a client-specific issue. Without the adjustment, the reported quarter's revenues stood at Rs 1,726 crore.
Gujarat govt lifts ban on sale of Maggi
Gujarat Food and Drug Control Authority (FDCA) said on Monday it lifted the ban on the sale of Nestle India's 'Maggi' noodles after the Bombay High Court lifted the nationwide ban on it in August. The Karnataka government too allowed manufacture and sale of Maggi noodles in the state as it decided to withhold the Centre's directive banning it, saying it lacked clarity.
S&P retains India rating, maintains stable outlook
Indians' low incomes, high government debt and supply constraints are the key barriers to an improvement in the country's sovereign rating, said Standard & Poor's in a release on Monday. S&P retained its lowest investment grade BBB- rating with a 'stable' outlook on India and said it was unlikely to change the rating until at least next year.