"advanced" talks with potential investors over an injection of capital into the business. Indian tractor maker Mahindra and Mahindra last week topped an offer from Italian private equity fund Investindustrial that had been agreed with Aston's owner, Kuwaiti investment house Investment Dar, sources said. (Reuters)
* US car major Ford today said it will make India its export hub with plans to sell its products in more than 50 countries over a period of time.
* Hero MotoCorp, the world's largest two-wheeler manufacturer, reported record retail sales in the festive season this year. HMCL has already retailed over 1.1 million two-wheelers in the festive months of October and November.
* The country's leading automobile company Tata Motors will halt production at its block in Jamshedpur for three days from Thursday, following poor demand.
* Elgi Equipments Ltd, a manufacturer of air compressors and automobile service station equipment, has acquired 100 percent stake in Patton's Inc. The company did not disclose the value of the deal.
* The Indian government's share sell down in state-run miner NMDC Ltd to raise roughly $1.2 billion is likely to be launched on Dec. 13, three sources with direct knowledge of the situation said on Thursday.
* The Oil Ministry will raise the cap on supply of subsidised cooking gas (LPG) to 9 cylinders per household in a year provided the Finance Ministry agrees to give an additional 30 billion rupees in 2012-13.
* Amidst government directive to PSUs to invest their surplus funds, Coal India Ltd, which is sitting on huge cash-pile, has lined up 500 billion rupees investment plans for the next five years.
* Lanco Infratech's Australian subsidiary Griffin Coal, which supplies coal to Bluewaters Power Station, is likely to gain 150 million Australian dollars (8.7 billion rupees), on revision of fuel prices after the power producing firm is sold
to a Japanese consortium.
* Faced with a double whammy of depleting order inflows and profits, Siemens India plans to cut capital expenditure.
* The defence ministry has initiated a vigilance inquiry into Mumbai-based Mazagon Dock Ltd's move to set up joint ventures with private sector players in the face