GM recalls another 3.4 million cars for ignition problem

The bulk of the 2000 to 2014 model-year cars -- 3.2 million -- are in the United States, the largest US automaker said on Monday.

GM said that the ignition switch may move out of the "run" position if the key is carrying extra weight and is jarred, such as when the car hits a pothole or crosses railroad tracks.

Switching out of the "run" position affects power steering, power braking and could cause air bags not to deploy in a crash.

GM said it knows of eight crashes and six injuries related to this recall.

The company said the recall stems from its review of ignition issues following the recall in February of 2.6 million Chevrolet Cobalts and other small cars for ignition switch problems.

The cars covered in the newest recall are Buick Lacrosses, Chevrolet Impalas, Cadillac Devilles, Cadillac DTS, Buick Lucernes, Buick Regals, and Chevy Monte Carlos, from various model years between 2000 and 2014.

GM said addressing the problem would involve replacing existing ignition keys with new ones designed differently, or retooling existing keys.

"Until the rework or replacement is completed, owners of the recalled cars are urged to remove additional weight from their key chains and drive with only the ignition key," GM said.

GM also announced US recalls for 165,770 vehicles for a variety of problems, including with automatic transmissions and power steering.

It said it would take a charge of about USD 700 million for recall repairs in the second quarter, including the USD 400 million provision it previously announced.

The automaker is under congressional and, reportedly, Justice Department investigation over why it failed to act on the Cobalt ignition switch problem until this February despite knowing about it for more than 11 years.

That problem has been tied to dozens of accidents and at least 13 deaths, according to GM. Outside analysts have said the death toll could be much higher.

The company is facing multiple lawsuits for that problem, which analysts say could ultimately cost the company billions of dollars in damages.

Source: Auto News in Hindi

From post.jagran News

Yamaha launches FZ, FZ-S and Fazer bikes in new colours

Yamaha has launched some product refreshes to pep up its lineup in 2014. Yamaha Motor India Sales has launched the variants of the bestselling Yamaha motorcycles namely FZ, FZ-S and Fazer in vibrant colour schemes and graphics to boost sales and create more excitement among customers and motorcycle aficionados.

In all, three new colours for each FZ, FZ-S and Fazer motorcycles have been introduced along with some stylish and aggressive graphics. The refreshed Fazer is priced at Rs 77,351, FZ at Rs 70,411 and FZ-S at Rs 72,385, all ex-showroom in Delhi.

The 153cc FZ series and Fazer motorcycles are two of the most popular products offered by Yamaha Motor India Sales. These bikes have gained immense traction among customers since the launch of FZ series in 2008.

"The new colours have been introduced to suit the need of customers who are always looking at upgrading to a more stylish product to match their ever changing fashion statement and personality," the company said in a statement.

FZ boasts of street friendly performance and riding experience. Similarly, the Fazer is known for its edgy, sporty look and high performance. Fazer gets its DNA from the global Fazer series known for their sports touring and looks.

"The new FZ-S is meant for the stylish and attention seeking macho man. Dubbed as 'Lord of the Streets,' FZ-S is designed and engineered with the potential for active and even aggressive enjoyment of around-town Street riding," the company statement said.

The engine specs remain unchanged with the same 153cc, air cooled-single cylinder four stroke engine doing the duty. The engine generates maximum power of 14 PS at 7500 rpm and is mated to a 5-speed gearbox.

Source: Automobile Industry News

From indiatimes News

Kinetic exits Mahindra 2 Wheelers; sells stake for Rs 182cr

Kinetic Engineering Ltd (KEL) on Monday exited the two-wheeler segment completely by selling its remaining stake in Mahindra Two Wheelers to private equity firm Samena Capital for about Rs 182.1 crore.

The Pune-based company had originally acquired the stake in November 2008 when Group firm Kinetic Motor Company sold its two-wheeler business assets to M&M in a cash and stock deal. Subsequently, the home-grown auto major merged Kinetic Engineering with itself in 2012.

According to the company, the deal with Samena Capital involves certain committed payments, including NCD repayments and cost of financing. The net proceeds would be around Rs 109.8 crore, which KEL will use for its business operations.

Commenting on the transaction, KEL Vice-Chairperson Sulajja Firodia Motwani said the stake divestment is done to focus more on the automotive systems business.

"We will utilise the proceeds to meet various obligations of the automotive systems business, including working capital and FCCBs/debt repayment requirements to strengthen our balance sheet," she said.

Ambit Capital was the sole financial adviser to KEL for this transaction.

Kinetic is currently focused on building its automotive systems business through various Group companies.

The Group has made good progress in building a strong base in engine and transmission systems in KEL, motor business in Kinetic Taigene as well as automotive electronics business in the Kinetic-Ducati alliance.

Ramesh Venkataraman, Senior Partner at Samena, said the early success of the 'Centuro' bikes has demonstrated what the Mahindras are capable of and "we look forward to an exciting and fruitful relationship in the years to come."

Set up in 2008, Samena is a principal investment group focused on Asia and has offices in London, Dubai, Hong Kong, Singapore and Mumbai.

Source: Auto News in Hindi

From BT News

Cars to watch out for at the Auto Expo 2014

The 12th edition of the Auto Expo is all set to begin. For the first time, this mega automotive event will be organised over two venues. While the Components Show will be held at Pragati Maidan in Delhi from February 6-9, the Motor Show will take place at the new venue called the India Expo Mart in Greater Noida from February 7-11.

Organisers believe that such a step will ensure that the event is of global standards and is without the chaos and crowd mismanagement that marred previous shows. The overall display space this time is up by 30%.

Buying a new car? Check Prices

Last year was a very tough year for the automobile industry in India on the whole with factors such as the slowdown in the economy, rising fuel costs, less disposable income and poor sentiment negatively affecting sales.

The Auto Expo 2014 is expected to infuse some amount of positive sentiment into the industry; this may just revive the auto industry to an extent. As many as 70 new vehicles will be unveiled at the Motor Show, with 26 global unveilings, of which 15 are cars. Alongside, there will be a special theme pavilion to promote hybrid and electric mobility.

Buying a used car? Check Prices

This is going to be the biggest show India has ever witnessed, and we are gearing up for comprehensive coverage. But before that, let’s have a look at some of the hottest car unveilings.

Source: Automobile News

From TFE News

Satya Nadella likely to be next Microsoft CEO: Report

Senior Microsoft executive Satya Nadella would replace Steve Ballmer as Microsoft CEO, two media reports said today, citing sources familiar with the processes of selecting the new leader at the Redmond-based company.

Bloomberg reported that the Microsoft board was set to name Nadella, an Indian who was born in Hyderabad and who completed his engineering from Manipal University before heading to the US for higher studies, as the company's next CEO. The report also said that the board was discussing replacing Bill Gates as chairman.

The Bloomberg report came several hours after Kara Swisher, who has a fairly reliable record of breaking stories, wrote on technology website Re/code that Microsoft has apparently finalized Nadella as the next CEO of the company. Swisher wrote that a formal announcement was expected within a week.

While Bloomberg report indicated that Nadella was certain to be the next CEO, Re/code report hinted that he was among the three insiders shortlisted for the job and was the strongest candidate.

"And, at this moment, those who have watched the process think that insider Satya Nadella, who is currently leading its enterprise effort, is the likeliest internal candidate to prevail. That's due to a number of reasons, including his familiarity with the company, where he has spent much of his career, as well as a strong technical background and a varied work history at Microsoft," noted the report. "The two other insiders -- strategy head Tony Bates and Nokia leader and former Microsoft exec Stephen Elop -- seem further behind."

Currently, Nadella is the president of server & tools business at Microsoft. He landed his current assignment in 2011. Before that he was senior vice-president of R&D for the online services division and vice-president of the Microsoft business division. In total he has been with Microsoft for nearly 23 years and is considered a person who is familiar with the internal culture within the company, which has an incredibly complex corporate structure.

Nadella's appointment as CEO is likely to have mixed reactions. He is considered a person who is familiar with the Microsoft's enterprise-focussed products like MS Office, online services like Bing and cloud services like Azure. In the last few years, Microsoft has seen good adoption of products like Office 365, Azure and Windows Servers and many industry insiders believe that for the company, enterprise services and the products are the future. If that is the same consensus Microsoft board has reached, Nadella seems like an obvious and good choice as the next CEO of the company.

But at the same time Microsoft has found going a little difficult in the consumer space. Windows 8 has been considered a flop and the company is trying to fix the OS by dialling down on the Metro user interface. Also, Windows Phone has so far failed to take off even as Google's Android and Apple's iOS continue to woo consumers. In the smartphone and tablet market Microsoft has negligible share. In the personal computer market, the sale is slowing and that has hurt Microsoft and its hardware partners.

While Microsoft's financial performance remains strong, the company seems to have lost mind-share. Google and Apple are now considered more innovating and exciting technology firms compared Microsoft.

Patrick Moorhead, president at Moor Insights & Strategy and a veteran of computer industry, says that Nadella may face challenging time in fixing Microsoft's problems in consumer space.

"Satya Nadella has a lot of experience, but not as much as someone who typically runs a company of the size of Microsoft. He has spent most of his time in the enterprise space, so I think he would need a very strong lieutenant who gets the consumer market. Microsoft's biggest challenge is consumer and Satya doesn't have experience in this market," Moorhead told TOI.

Nadella is said to have little experience with smartphone, personal computer and Xbox divisions at Microsoft. This is a concern that many will raise if Nadella turns out to be the CEO of Microsoft. On Friday when Bloomberg story appeared, Peter Bright, who is Microsoft editor at technology website ArsTechnica, tweeted, "The question is: who will be the champion for mass-market consumer/end-user products?"

As focus turns on him, Nadella has been more active in talking to media in the last few months. A few months earlier in Paris he was meeting startups. He told a French publication, "Meeting with startups is important because the tech cycle is such that the small guys make it big and the big guys die".

Before that he talked to Mary Jo Foley, a long-time Microsoft watcher, for Zdnet website. He told the website that Steve Ballmer taught him "there's nothing in this industry -- and definitely in this particular segment -- that's built to last... It's all about being able to reinvent yourself."

Given the fast-changing technology market and the advances Google and Apple have made in the last few years, leaving Microsoft behind, Nadella will definitely have to reinvent Microsoft if he is its next CEO and if the company does not decide to give up its business in the consumer market.

Source: Technology News in Hindi

From TOI News

AI to join Star Alliance this summer, will IndiGo, SpiceJet be next ?

Will India become the first market where global airline grouping Star Alliance looks to partner a low cost carrier (LCC)? This prestigious grouping has already decided to take Air India into its fold after an earlier failed attempt and makes no bones about wanting a second airline from India to also join in. 

 CEO Mark F Schwab made it clear that the new full service airline, being set up by Tata Sons and Singapore Airlines, is not an obvious choice for the Alliance. AI should get integrated into the alliance by the summer of 2014 and then, the field will be open for LCCs like IndiGo, SpiceJet to woo Star Alliance. 

Will they? More importantly, will Star Alliance want its first ever LCC member from India? This alliance comprises 28 of the world's powerful airlines like Singapore Airlines, Air Canada and Lufthansa and has no LCC member till now. Through the alliance, AI will get enhanced connectivity and greater passenger revenue besides opportunity to code share with big global airlines. Schwab spoke at length on several issues in a chat with journalists last night. Excerpts: Read more.. 

Source: Latest Automobile News

From Frist Post News

Bank workers to strike work on Feb 10, 11

The United Forum of Bank Unions (UFBU) has revived its call for a 48-hour nationwide strike to begin from February 10, in view of "meagre" improvement to the initial wage revision offer made by bank managements.

The bank managements represented by IBA increased their offer from 9.5 per cent to 10 per cent on payslip cost at their bipartite talks with UFBU on Monday. 

As this improvement is seen to be inadequate, it has been decided to revive the strike call for February 10 and 11, said C.H. Venkatachalam, General Secretary of All India Bank Employees Association. 

UFBU, a representative body of nine bank unions, had earlier given a strike call for January 20 and 21. But this strike plan was deferred after the Indian Banks' Association (IBA) increased their initial offer from five per cent to 9.5 per cent on January 17.Read more..   

Source: News in Hindi

From BL News       

Maruti to take on arch-rivals with its new compact model Celerio

Market leader Maruti Suzuki India Ltd ( MSIL) is betting big on its new compact model Celerio with automatic gear shift to take on arch-rivals Hyundai's Grand i10 and Honda Brio. The new compact car, scheduled for launch on February 6, is expected to be aggressively priced to attract customers in the price- sensitive market.

According to MSIL, Celerio, with a fuel efficiency of 23.1 km per litre, will be offered in six petrol variants- four with manual transmission and two with automatic gear shift.

The car comes loaded with several features like alloy wheels and Bluetooth connectivity across variants. Celerio, which sports 1- litre K- next engine, would be available in seven colours.

ALSO READ:How Maruti bounced back after its labour strife of 2012
Celerio auto gear shift variants will have the flexibility of both manual mode and auto drive mode in the same car with a mere shift of the gear lever. While such a facility exists in premium sedan models, this is the first time that a compact model will be offering the option.

MSIL chief operating officer (marketing and sales) Mayank Pareek said, " The company has worked on addressing three key issues associated with automatic transmission cars- high cost of acquisition, low- fuel economy and maintenance hassles.

With Celerio, which has been developed at an investment of around Rs  570 crore, having our EZDrive technology, we have addressed those issues." While Pareek did not elaborate on how much the Celerio with automatic gear shift will cost, he said that the difference in price with a manual transmission will not be significant.  Read more..

Source: Automobile Industry News

From BT News

Auto Expo 2014 preview: 69 model launches & 15 global unveilings lined up

You'd expect Vishnu Mathur's mood to reflect that of the Indian auto sector — downbeat, what with the industry in the midst of an agonizing slowdown, and sales dipping in the April-December period over a year ago.

Yet, the director general of SIAM, the apex auto industry body, has been full of beans and on the go in the past two weeks, with a schedule so frenetic that it belies the sector's downturn.

For starters, Mathur has temporarily moved office from the India Habitat Centre in the heart of Delhi to Greater Noida on the outskirts. Except for the receptionist, his 30-odd staff too has accompanied him. Their days are hectic, starting at 8.30 am and they aren't home before 10 pm. "It will get worse from next week. We may not be able to go home," Mathur says, and you wonder whether he's pleased or distressed by that thought.

As SIAM's boss, Mathur is steering India's once-in-two-years auto show, to be held from February 6-12, for the first time in Greater Noida. Appointed in 2010 summer as director general, this is Mathur's second auto show, which is the Rs144,000-crore auto industry's biggest shindig. Understandably, a lot is at stake for him — and the sector.  Read more..

Source: Automobile Industry News

From ET News

Police suspect suicide in Tata Motors managing director Karl Slym's death

 Karl Slym, managing director of India's Tata Motors Ltd, died after falling from a hotel room in Bangkok in what police said on Monday could be possible suicide.

Slym, 51, had attended a board meeting of Tata's Thailand unit in the Thai capital and was staying with his wife in a room on the 22nd floor of the Shangri-La hotel. Hotel staff found his body on Sunday on the fourth floor, which juts out above lower floors.

"We didn't find any sign of a struggle," Police Lieutenant Somyot Boonyakaew, who is heading the investigation, told Reuters. "We found a window open. The window was very small so it was not possible that he would have slipped. He would have had to climb through the window to fall out because he was a big man. From my initial investigation we believe he jumped."

The police found a three-page note, written in English, which they were translating into Thai. An autopsy on Slym's body should begin on Monday.

A spokeswoman for Tata Motors, India's biggest automaker, declined to comment on the possible cause of Slym's death. A company statement on Sunday said Slym had provided leadership in a challenging market environment.

Turning the corner

Slym, a British national, was hired in 2012 to revive Tata's flagging sales and market share in India. Tata Motors is part of the Tata conglomerate.   Read more..

Source: Hindi News

 

From TOI News

Tata Motors managing director Karl Slym falls off Bangkok hotel, dies

 Tata Motors managing director Karl Slym died on Sunday after apparently falling from a high floor of a five-star hotel in Bangkok.

Slym, who was scripting a revival strategy for the company, had gone to Thailand to attend a board meeting of the firm's unit there.

A company spokesperson said a postmortem would be carried out on Monday. Details about the accident were sketchy. Bloomberg quoted a company spokeswoman as saying that he fell from the city's Shangri-La hotel, where he was staying,  Slym, 51, a British national, was known to be an affable and highly-focused manager. He was the head of GM's India operations before joining Tata Motors in October 2012. He was the first expatriate and the fourth managing director of the $100 billion Tata Group's flagship company, Tata Motors.

"Karl (Slym) joined us in October 2012, and was a valued colleague who was providing strong leadership at a challenging time for the Indian auto industry. In this hour of grief, our thoughts are with Karl's wife and family," Tata Motors chairman Cyrus P Mistry said in a statement.

Tata Motors has been going through a rough patch particularly as buyers shunned the low-cost Nano after its spectacular debut in March 2009. It's other cars such as the Indica and Indigo too have struggled in a market hit by the economic slowdown. Read more..

Source: Hindi News

From TOI News

Tata Motors plans to cut staff, rejig domestic operations

Tata Motors, India's biggest automaker by revenue, plans to shed a section of its workforce as a protracted slowdown and dwindling market share has forced the company to restructure its domestic manufacturing operations.

The automaker has initiated two voluntary retirement programmes— early separation scheme (ESS) and compulsory retirement scheme—across its main commercial vehicle plants in Jamshedpur, Lucknow and Pantnagar.

"It is an industry wide phenomenon with capacities lying unutilised and so are the personnel," a top executive at Tata Motors said.

"Most of the automotive companies are reducing workforce. We have also undertaken some measures to streamline our operations, though we are supportive to our staffers and enabling them some solutions for their future."

Although the executive termed the job cuts as "very minor", people close to the development said the automaker has identified around 5,000 staffers for the retirement schemes. Read more..

Source: Auto News in Hindi

From ET News

Tata Chemicals set to expand consumer business

Tata Chemicals (TCL), the 75-years-old company from the Tata Group, plans no expansion for its core soda ash and fertiliser businesses for the next five years.

Instead, it plans to focus on growing the consumer business, now comprising salt and pulses, to bring higher return on capital and prune debt by nearly a third, to Rs 2,500 crore.   

TCL is the world’s second largest producer of soda ash, with manufacturing facilities in Asia, Europe, Africa and North America. Its product range includes ingredients to some of the world’s largest makers of glass, detergents and other industrial products.

The demand for soda ash has slowed across the globe, due to the economic slowdown. And, the fertiliser business is suffering due to subsidy payment arrears by governments. This has raised the working capital requirement, bringing down the return on capital. The rising price of gas has further increased cost for the industry, making it unattractive for investment.

“In the next five years, we have planned no further expansion in the existing core businesses. These will be run as cash cows, to help generate the new consumer products,” said P K Ghose chief financial officer, on the sidelines of an event to celebrate 75 years of operations. “We have been in salt and introduced a few new products such as pulses but in the next five to 10 years, we will see an enormous amount of this happening on the consumer front.” Read more..

Source:  Automobile Industry News

Source: BS News

GOLD NEWS – India unlikely to change gold import rules until CAD improves

Gold rallied more than two percent on Thursday and many were quick to point to a potential roll back in gold import rules after Congress President Sonia Gandhi wrote to the Commerce Ministry asking it to consider a relaxation of the 80:20 import rule imposed on gold.

Under the 80:20 rule, new gold imports are not allowed until 20 per cent of the previous shipments are exported as jewellery.

The request was made after the All India Gems and Jewellery Trade Federation sought Sonia’ intervention to ease restrictions as India’s appetite for gold has caused smuggling incidents to increase after the import duty rose from an initial 2 percent in January 2012  to the current 10 percent.

The government raised the import duty on gold thrice in 2013 to curb the inflow of the yellow metal and help narrow the widening current account deficit which had caused a sharp slide of the rupee against the dollar.

According to the finance ministry data, gold imports increased significantly by 87 percent from 205 tonnes in April-July 2012 to 383 tonnes in April-July 2013.

However, those hoping that the appeal to revoke the rule or cut export taxes on gold is in for a disappointment as the Finance Minister, P Chidambaram who is currently attending the World Economic Forum at Davos, said that the regulations will only be relooked when the country comes to a firm grip on its current account deficit (CAD).  Read more..

Source: Hindi News Live

From Fastmarket News

BRICS on rebound mode; India to clock steady GDP in next 3 years

The global financial crisis, had hit the BRICS (Brazil, Russia, India, China and South Africa) economies, but these countries are likely to rebound, with India likely to clock "steady" GDP growth in next three years.

According to leaders of these economies who were speaking at a session at the 44th World Economic Forum Annual Meeting here, the BRICS economies would rebound over the next few years, despite having been hit to varying degrees by fallout from the global financial crisis. ..

"India's growth declined because of the adverse external environment and due to some decisions we took," Indian Finance Minister P Chidambaram said.

He, however, expressed confidence that the country will grow at 6 per cent this year, 7 per cent in 2015 and 8 per cent in 2016.

Questioned about the role of the state in the Indian economy, he said: "New space in the economy is reserved substantially for the private sector but state enterprises cannot be dismantled overnight or s ..
Read more..

Source: Latest News in Hindi

From ET News

Analysts advise how to trade Ranbaxy, say EBITDA may fall

Shares of Ranbaxy are reeling ( skid 20 percent intraday) under pressure on US Food and Drug Administration (USFDA) ban for its Punjab-based Toansa Active Pharmaceutical Ingredients (API) plant. 

Most analysts are negative on the stock, saying it is almost like the worst case scenario playing out. Toansa is the fourth unit of the company which is banned and added to consent decree. With this, all of the company's India-based plants supplying to US are banned. Its Ohm Laboratories, the only plant which has USFDA approval, manufactures drugs using API from Toansa. 

Toansa is the only API plant for Ranbaxy and the move will delay future approvals. The setback will impact base business in the US denting margins and key first-to-file (FTF)opportunities in jeopardy. Launch of FTF drugs give exclusive rights to market drugs in the US for a fixed period with limited competition. Read more..

Source: News in Hindi

From MC News

AAI chairman against privatisation of airports, sacked

 In a late night development, chairman of the state-run Airports Authority of India, V P Agarwal, was removed from his post apparently because of his "opposition" to privatisation of more airports in the country, sources said. 

Alok Sinha, who is currently joint secretary in the Aviation Ministry and handling the airports, has been given additional charge of the post, according to government orders. 

Agarwal was resisting the privatisation of six more airports, including Kolkata and Chennai. But the government is in a hurry and wants the process to be completed before going into elections. For this reason, Agarwal had to lose his post, sources said here.  Read more..

Source: Latest News in Hindi

From FP News

RBI head calls inflation 'destructive disease': Media

Reserve Bank of India (RBI) governor Raghuram Rajan called inflation a "destructive disease" that was forcing the bank to keep interest rates high, according to a domestic news agency Press Trust of India report carried by The Economic Times newspaper's website. 

The strong warning against inflation came ahead of the central bank's policy review next Tuesday. The RBI raised interest rates by 25 basis points each in September and in October. It kept policy on hold last month. 

Also read: RBI aligns NBFC loan restructuring norms with banks "Inflation is a destructive disease," Rajan was quoted by PTI as saying in a New Delhi speech on Thursday. "Industrialists complain about high interest rates but we don't have a choice but to keep interest at a high rate because inflation is high at 8 percent."  Read more.

Source: News in Hindi

From MC News

Tata Motors will invest Rs 9,000 crore over next 3 years: Karl Slym

Almost a year after a major top management rejig, Tata Motors is busy reinventing itself. India’s largest automaker with consolidated revenues of $34.7 billion has seen its share of troubles with both volumes and market share slipping sharply over the past two years. In an interview with Roudra Bhattacharya, Tata Motors’ MD Karl Slym talks about the challenges faced by the domestic industry, and how overseas expansion will be a focus going forward. He explains how Tata Motors is gearing up to reclaim its position among the top three carmakers in the country.

What measures has Tata Motors taken to weather the tough times?

Last year was one of the toughest ones for the Indian automobile industry. The Indian auto sector saw a slowdown in FY13, which has further continued in FY14. The major challenges faced by the industry in FY13 have been the slowing economic and infrastructure growth, coupled with negative consumer sentiment. Contrary to expectations, the industry hasn’t picked up. The commercial vehicle (CV) industry as a whole continues to be about 30% lower than last year, which came after a similar drop over FY12. While this industry is prone to cyclicality and all those who have been in the industry long enough will have witnessed one downturn or the other, what is particularly concerning about this one is the lack of visibility of a recovery plan. In the passenger vehicle (PV) industry, growth has been flat.  Read more..

Source: Latest Automobile News

From TFE News

Mover & Shakers on D-Street: Sesa Sterlite, Wipro, Tata Motors, Suzlon

Indian markets ended with modest gains on Tuesday led by banking and automobile stocks. The BSE Sensex rose 46.07 points, or 0.22 per cent, to settle at 21,251, its highest closing level since January 16. 

The broader NSE Nifty advanced 9.85 points, or 0.16 per cent, to settle at 6,313. 

The market breadth was positive. On BSE, 1,376 shares gained, whereas 1,247 shares declined. Foreign institutional investors sold equities worth Rs 43.74 crore on Tuesday. Read more..

Source: Auto News in Hindi

From ET News