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Mahindra Finance, the financial services arm of auto major Mahindra and Mahindra has recently said that the company is expecting to get the regulatory approval for entering into the asset management business during the fiscal. In fact, the MD of the finance arm of the conglomerate, Ramesh Iyer said that the company has already applied for asset Management Company and it is hoping to get SEBI (Securities and Exchange Board of India) approval during the year.

Jeera August contract dropped Rs 481 and settled at Rs 14690 a kg as arrivals picked up in the spot market and on poor domestic and overseas demand. Arrivals have improved in the domestic market as farmers are getting attractive prices.  At Unjha, jeera dropped 47 rupees to end at 14,625 rupees per 100 kg. Jeera exports in April-June 2010 fell 20 percent to 10,750 tonnes from the same period a year ago. The contract made intraday low of Rs 14590 a kg and high of Rs 15290 a kg. Support for jeera is at 14423 below that could see a test of 14157. Resistance is now seen at 15123 above that could see a resistance of 15557.

Trading Ideas:

Japanese automobile major and the global market leader in the automobile sphere, Toyota Motor Corporation has confirmed that the company will launch its new small car 'Etios' in December this year. While the sales are expected to begin in January next year, the company has so far not confirmed that whether the first model could be the sedan version or the hatch version of the product.

Turmeric yesterday we have seen that market has moved -1.04% on hopes of higher acreage, sl

Chana dropped Rs 60 and settled at Rs 2323 per quintal on good rainfall in kharif pulses growing areas and forecast of more rains in the next two days. In Delhi spot market, chana fell 14 rupees to end at 2,261 rupees per 100 kg. According to the fourth advance estimates, the production of chana (gram) in 2009-10, is likely to be 7.35 million tonnes against the actual production of 7.06 million tonnes last year.  The volume was noted at 136520 lots. Support for chana is at 2295 below that could see a test of 2268. Resistance is now seen at 2365 above that could see a resistance of 2408.

Trading Ideas:

Chana trading range is 2268-2408.

The CWG officials are surely having a tough time in getting sponsors for the much-awaited sporting event Commonwealth Games but they surely have bagged one of the biggest names in the Indian business - Tata.

According to the sources, the deal is barter among the two parties wherein, the home-grown automobile major will provide 1,800 new cars to organisers of Commonwealth Games to ferry athletes in lieu of its advertisements as a logistics solutions sponsor for the 12-day sporting event.