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<br>Wholesale onion price soars 70% in a month</br> Wholesale onion price at Lasalgoan in Maharashtra, Asia's biggest market for this kitchen staple, has shot up by 70 per cent in just about a month — hitting its highest level for the month of July in the past two decades. Prices in July usually tend to be higher because the supply goes down and the onset of monsoon season also affects the onion quality. The onion was being sold at Rs 25.50 per kg in Lasalgoan market today, while the retail prices are in the range of Rs 35-40 per kg here in the national capital. Lasalgoan accounts for a bulk of the supply in various parts of the country, including Delhi region. The prices have shot up by 70 per cent since June 27 when the government increased the minimum export price (MEP) for the commodity. Spiralling prices could further fuel the food inflation in the coming weeks. As per the data maintained by the Nasik-based National Horticultural Research and Development Foundation (NHRDF), the average price at Lasalgaon stood at Rs 15 per kg last month. (Reuters) (24/07/2015)
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<br>Mahindra & Mahindra launches 'Thar CRDe' launched priced at Rs 8.03 lakh</br> Leading SUV manufacturer Mahindra and Mahindra Ltd today unveiled a new version of its off-road vehicle Thar at Rs 8.03 lakh (ex-showroom Nashik). "The Thar CRDe comes with enhanced exteriors and new interiors with added comfort and convenience features, all of which take the legendary off-roader to the next level," company's president and chief executive (automotive) Pravin Shah told reporters here. Its newly-added first-in-class feature, the auto engaging differential lock, and a powerful 2500 cc CRDe engine further enhance its off-road capability, he said. The vehicle sports a distinctive new exterior which has raised the bar for vehicles of its class. Available in five colours, the other distinctive features include more premium interiors, like wider seats, re-designed AC vents etc., he added. (Reuters) (24/07/2015)
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<br>Govt extended 'light hand-holding' to SpiceJet: Aviation Min</br> The government had extended "light hand-holding" to SpiceJet when it went through turbulent times, according to Civil Aviation Minister Ashok Gajapathi Raju. The no-frills carrier, which was on the verge of closure in December last year, has seen a change in ownership with original promoter Ajay Singh back at the helm. "From experience, you know that Indian skies do become turbulent. Kingfisher crashed and recently we had one airline that was in turbulent weather. It was SpiceJet. Of course, the government gave light hand-holding… like a toddler, grand children in your house," Raju said today. "Most people of my age are very fond of grand children especially when they start walking… then they walk away and grow strong… So we wish that Indian airlines serve the nation and make our skies more vibrant," he said here. Amid turbulent times last December, flights of SpiceJet were even grounded for a brief period. Now, things are improving for the carrier and it recorded the highest load factor — an indicator of its performance – of 93.2 per cent in June. (Reuters) (24/07/2015)
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<br>TCS, Cognizant, Infosys in India's top employers list</br> TCS, Cognizant and Infosys have emerged as the top employers in the IT-BPO sector, according to a list of 20 leading companies released by industry body Nasscom. "About 1.25 million, little more than the one-third of current workforce of IT and BPO employees were employed in these 20 firms during 2014-15 financial year," Nasscom President R Chandrashekhar said here today. The 20 companies are — TCS, Cognizant, Infosys, Wipro, HCL Tech, Tech Mahindra, Capgemini, Genpact, Serco, Global Servics, Aegis, Mphasis, iGATE, WNS Global Services, Larsen and Toubro, Infotech, CSC India, Syntel Ltd, EXL, Hinduja Global Solutions, Firstsource Solutions and Mindtree. (Reuters) (24/07/2015)
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<br>Lupin to acquire US-based Gavis for $880 mn</br> Lupin, India's fourth-largest drugmaker by sales, will buy US-based Gavis Pharmaceuticals for USD 880 million (Rs 5,610 crore) – its largest acquisition as the company looks to expand in the US generics market. The acquisition will help Lupin increase presence in the US, its largest market where sales fell 31 per cent to USD 180 million in the first quarter. Lupin said the acquisition – largest by an Indian pharma firm in the US – of closely held Gavis will give it access to 66 generic drugs as well as broaden its "pipeline in dermatology, controlled substance products and other high- value and niche generics". Gavis will contribute to Lupin's earnings in the first full year after purchase. Lupin shares dropped the most in three months on the BSE after missing earning estimates for the April-June quarter. Shares closed 5.3 per cent lower at Rs 1,728.25. (Reuters) (24/07/2015)
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<br>BMW launches 'X6 Sports Activity Coupe' at Rs 1.15 cr</br> World's third largest luxury car maker BMW India today launched a souped-up version of its premium sports activity car X6 coupe for Rs 1.15 crore ex-showroom, national. The 6-liter, 8-speed machine is the second generation of the X6 Series and is being sold as a completely built unit and will be available for sale across the BMW showrooms from today, BMW India Group president Philipp von Sahr told reporters here. He said the X6 coupe is the only sports activity coupe in the world, adding "BMW established the sports activity coupe segment with the introduction of X6 series." Launching the high-end version, Sahr said, "Luxury has always been written with an X. To the very last detail, the new X6 offers a unique synthesis of luxury, sporting dynamics and powerful style creating an excitingly different driving experience for our customers. (Reuters) (24/07/2015)
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<br>Wipro Q1 Net up 4% to Rs 2,188 cr; Q2 guidance at 1.5-3.5 pct</br> Country's third-largest software services firm, Wipro today reported four per cent rise in net profit at Rs 2,187.7 crore for the June quarter, broadly in line with street expectations. The city-based firm, which had reported a net profit of Rs 2,103.2 crore in the year-ago period, said it expects the coming quarters to be better than the April-June, 2015 period. Its total income rose 10.5 per cent to Rs 12,894.8 crore for the said quarter from Rs 11,669.4 crore in the April-June, 2014 quarter. The firm's IT services revenue, which constitutes a major share of the firm's total earnings, saw a sequential growth of 1.1 per cent to USD 1.79 billion in the said quarter, meeting its revenue guidance of USD 1,765 million to USD 1,793 million. (Reuters) (24/07/2015)
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<br>Air India facing tremendous financial stress: Raju</br> National carrier Air India is under "tremendous" financial stress and needs to ensure that its team works in a more "cohesive" manner, Civil Aviation Minister Ashok Gajapathi Raju said today. "Financially, if you look at Air India, it is under tremendous stress. Historically, it has got a legacy and we need to outgrow it," he said. Air India, which is in the red, has a debt burden of around Rs 40,000 crore and is surviving on a bailout package approved in 2012. Noting that are plus and minus points, Raju said, "in certain ways, it has to still pull up its socks". "I, for one, wish them well. We would wish and are trying to make their team more cohesive because ultimately it is the team that delivers. Unfortunately for us…Indians are excellent in thought and very difficult to work as a team," the minister said at an event. (Reuters) (24/07/2015)
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<br>10 Indian companies in Forbes Asia Fabulous 50 list</br> As many as 10 Indian companies, including Aurobindo Pharma, HCL Technologies, Tata Consultancy Services, and HDFC Bank, have made it to the Forbes Asia Fabulous 50 list. India has the second-highest number of companies on the list for the fifth year in a row, Forbes said in the list released today. Forbes further said that the Fab 50's brightest star, over the decade, was India's HDFC Bank. The bank has made to the list nine times, more than any other company. The other Indian companies on the list include Lupin, Motherson Sumi Systems, Sun Pharma Industries, Tata Motors, Tech Mahindra and Titan. "The Fab 50's brightest star over the decade, India's HDFC Bank… it's now made the list nine times, more than any other company," Forbes said. (Reuters) (24/07/2015)
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<br>Fall in gold prices not yet a concern for rupee: Nomura</br> Decline in gold prices is not likely to add pressure to India's current account deficit or the domestic currency, as the metal's appeal has diminished, Nomura said in a research note today. According to the global financial services firm, the recent decline in gold prices is not yet a "concern" for the Indian rupee. According to the Japanese brokerage firm, since 2009, lower inflation, improved RBI credibility and strong performance in financial assets have diminished gold’s appeal as an investment. Gold prices are currently hovering around Rs 25,000 per 10 grams, after it dropped to a four-year low in the domestic market. Moreover, the correlation between gold prices and gold demand in India had turned from "negative" to "positive" since 2009. This change in correlation was attributed to a number of factors including a "growing preference for gold as an investment asset rather than purely as a consumer good", Nomura said. As per the brokerage, an investment in the NIFTY index in the 12 months to end-June, would have yielded more returns than an investment in gold in rupee terms. (Reuters) (24/07/2015)

India’s richest Youtuber with Rs 665cr net worth is a comedian but not Samay Raina or CarryMinati