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On Friday the shares of Inox Leisure went up by as much as 20 per cent after there were news reports that said that Reliance MediaWorks (RMW) is going to buy 67 per cent stake in it.

But, later during the day Anil Ambani denied such reports and said, "We... deny any discussions by Reliance MediaWorks (RMW) or any offer by us to acquire any controlling stake in Inox Leisure Ltd." through a spokesperson.

As the year 2010 ends, the world may also witness the end of the half-a-century old agreement between the German carmaker Mercedes-Benz and the home-grown auto major, Tata Motors.

It is to be mentioned here that the German automaker has the paint shop tie-up with Tata Motors and the company may end this relationship soon by erecting its own shop.

Global telecom player, Qualcomm has said that it is going to sell its 26 per cent stake in its Indian broadband venture with Global Holdings and Tulip Telecom. The price has been set at $58 million.

The US-based telecom chipmaker had spent $1 billion for buying wireless airwave in the BWA auction that took place recently. The company has been depending on its ownership of air wave to be able boost its sale of advanced cell phones and chips in India.

Diesel cars have been a point of concern for auto majors in India a few decades ago. But now in the premium and luxury segment, diesel products are giving their petrol counterparts a hard time on the Indian turf. It is to be mentioned here that close to Three out of five cars sold in the first six months of this year were diesel powered.

Mercedes-Benz MD & CEO & Wilfried Aulbur said that the verdict is very much going in the favour of the diesel cars.

As per a person close to the development, the SKS Microfinance has received an overwhelming response and that the FPO has been oversubscribed.

Data on the NSE websites has shown that 168 lakh shares have been traded as the part of FPO and that they have been over-subscribed 8.5 times.

Major buyers have been the qualified institutional investors (QIBs) and they have been quite supportive during this while. Friday was the last for subscription. QIB's have their portion of the FPO oversubscribed 1.4 time till July 29.

The leading passenger carmaker in the Indian market, Maruti Suzuki has recently said that it will be fixing an oil leakage problem in the engines of 6,000 Altos produced in April that causes starting problems in the small car.

It may be noted here that the announcement comes almost a year after the company recalled close to 1 lakh A-stars in the Indian market due to faulty fuel pumps.