Deutsche Securities hikes stake in Eicher to 5.17%

Foreign fund house Deutsche Securities Mauritius has hiked its stake in commercial-vehicle maker Eicher Motors to 5.17%, after purchasing fresh shares through an open-market transaction. The fund house purchased 1,22,000 shares representing 0.46% stake in Eicher Motors, the car maker said in a disclosure on the Bombay Stock Exchange.

Commerce minister needs to spare more time for exporters

Last week, I had suggested that Commerce Minister Anand Sharma should announce an ad hoc Foreign Trade Policy (FTP) for the remaining eight months of the current year (2009-10). It now appears that he will opt for a long-term policy, with some measures that have sunset clauses. The basic framework of the 2004-09 policy may be preserved and most of the export promotion schemes retained. Whether some rationalisation of the schemes, ad hoc measures to help distressed sectors and moves to reduce transaction costs within the existing framework will sufficiently help exporters hit by slack demand abroad is a matter of doubt.

Robust growth for rlys may lead to rise in freight rates

With the Indian Railways registering better-than-expected growth in traffic operations this financial year on the back of a revival in the economy, its gross domestic product (GDP) is expected to cross the 9 per cent mark by the end of this financial year. This could lead to rising freight rates of some commodities, say officials in the ministry.

BSA Motors to launch 3 e-scooters in 2010-11

Two-wheeler maker BSA Motors today said it will invest Rs 50 crore in next fiscal, besides launching three new models, as part of its strategy to capture over 20 per cent share in the Indian electric scooter market by 2010-11.

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