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India's largest travel-related website, MakeMyTrip ltd has said that it is going to sell some of its stock in the US through an IPO.

The total worth of the stakes is going to be around $100 million and the company is aiming at raising much more from the markets than this.

It is looking forward to list itself on the Nasdaq Global Market with the ticker symbol of MMYT, said the company which has been in operation for a decade.

As for the proceeds, they will be used for the purpose of various acquisitions as well as in other fields as well.

Essar Oil said that it has posted a loss of Rs. 70 crore during the quarter ending June 30. This has happened since the margins in the oil refinery business has contracted during the above mentioned period.

The company is owned by the Ruias.

It posted an income of $5.61 per barrel of crude oil during the April-June quarter. The gross refining margin during the same period was $6.74 per barrel in the previous year. For the same period, the net profit of the firm was Rs. 169 crore.

Revenue soared by 52 per cent to end at Rs. 12,048 crore.

While the new cars in the Indian market have been able to make a lot of noise in the domestic circuit, but is it very interesting to note here that almost all the brands that are giving the newcomers a run for their money are almost a decade old in the country.

With a view to ensure that the processes of the Unique Identification (UID) program are in line with the vision, the authorities has selected three consortia to set up and run systems that will ensure that the biometrics-based IDs are not duplicated.

It is to be mentioned here that the consortia will be led by Accenture Ltd and MindTree Ltd; Mahindra Satyam and Sagem Morpho Security Pvt. Ltd; and Hewlett-Packard Co., L-1 Identity Solutions Inc. and 4G Identity Solutions Pvt. Ltd respectively.

According to the automotive major Mahindra & Mahindra (M&M), the commodity prices are expected to go up globally in the coming times.

Moreover, the company said that to work on sustainable mobility solutions, the UV maker will look into things like weight reduction, fuel efficiency improvement and development of alternative fuel power trains. It is to be mentioned here that M&M said in its annual report 2009-10 that it will focus on developing new products and technologies to meet ever-growing customer needs even in the times to come.

It seems that the two facts where Maruti's market share went below the 50% mark and lower than expected quarterly results have taken its own toll from the company. Under a recent move, UBS has downgraded the stock of the leading Indian car maker Maruti Suzuki to 'neutral' from 'buy'.

Moreover, the company has also cut the 12-month target price on the stock to Rs 1,550 from the earlier targeted Rs 1,750. Suffering from the high input costs and royalty payments, the stock of the company dropped more than 10 per cent after it reported a surprise 20 per cent fall in quarterly net profit.