Bizbits

Maruti Udyog market share erodes

NEW DELHI: Maruti8217;s market share in the car segment has touched an all-time low of 68.7 per cent during April-July, against a high of 83.9 per cent in the same period last year, due to better performance by the new entrants. Maruti registered only a 14.6 per cent sales growth during the first four months of the current fiscal.

Tata Chem reviews cement business

MUMBAI: Tata Chemicals chairman Ratan Tata has said that the company is taking a serious look as to whether the cement business can be considered a quot;core businessquot; anymore.While addressing shareholders at the annual general meeting, Tata, however, added that the division was still making a significant contribution.

Hind Copper gets Rs 75 cr IDBI loan

NEW DELHI: The public-sector copper major Hindustan Copper received loans worth Rs 75 crore from IDBI last week to help the company tide over its financial crisis. The company will utilise this loan primarily for clearing its international liabilities and liabilities on redemption of earlier bonds, people familiar with the situation said.

ABB-Alstom seeks FIPB nod for merger

NEW DELHI: Multinationals ABB and Alstom will seek the Foreign Investment Promotion Board8217;s approval soon for effecting its worldover merger plan in India also, a top ABB official said. quot;We plan to start the commercial operations of the merged company 8212; ABB-Alstom Power Co 8212; by end of this year,quot; the company said.