Inflation eases to 26-month low in Jan
India's headline inflation slowed to its lowest level in more than two years in January as food prices fell, increasing the pressure on the RBI to cut rates to battle the country's economic slowdown. Full Article
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India's Maruti Suzuki Q1 net up 25 pct, beats f'cast
MUMBAI, July 23 |
MUMBAI, July 23 (Reuters) - Maruti Suzuki (MRTI.BO), India's top carmaker, reported an unexpected 25 percent rise in quarterly net profit as it rode on higher sales, new product launches and a drop in raw material prices.
Maruti, in which Japan's Suzuki Motor Corp (7269.T) holds a 54.2 percent stake, said net profit rose to 5.84 billion rupees ($120.4 million) from 4.66 billion rupees reported a year ago.
That compared with a forecast of 4.49 billion rupees in a Reuters poll of 14 brokerages. [ID:nBOM491518]
Maruti sells around one in every two cars in India with models such as the best-selling Alto and recently launched hatchbacks A-Star and Ritz.
Shares in Maruti, valued at $7.4 billion, rose 37.5 percent in the June quarter, lagging the main index .BSESN that rose 49 percent and the sector index's .BSEAUT 49 percent gain. ($1=48.5 rupees) (Reporting by Janaki Krishnan; Editing by Ranjit Gangadharan)
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