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Reliance Industrial Infrastructure ltd (RIIL) led by Mukesh Ambani announced that it has seen a 27 per cent jump in net profit for the first quarter of this fiscal year ending June 30.

While the company reported a decline in its net income the profits grew. For the quarter in question, income came down by 8.79 per cent. In money terms it stood at Rs 12.45 crore which is lesser than what it posted last year at Rs. 13.65 crore.

After making its presence felt in the Indian market via the Linea and Punto, Fiat has taken a step ahead in its offering to the Indian consumer by launching the new diesel variant of its small car, Grande Punto, priced at Rs 6.79 lakh (ex-showroom price, Delhi).

According to the company, the claim to fame for this model is the 1.3-litre multijet engine that would give a mileage of 20 km per litre but it will yet be the most powerful diesel hatchback model in the Indian market.

As per three sources close to the development, conglomerate Essar Group is going to come out with an IPO of its stake in telecom firm Vodafone Essar,

It is currently in talks with the banks and if the need be it will look for other investment options. Essar is into businesses which range from steel to shipping.

It is into partnership with British firm, Vodafone in India's third biggest mobile firm, Vodafone Essar and has 33 per cent stake in the company.

Ford Motor Co said that it has managed to sell more cars in the first six months of 2009 than it did during whole 2009. This was said by a top executive of the company.

Joe Hinrichs, Ford's group vice president for Asia Pacific and Africa operations said while talking to media that the sales of the company has gone up majorly in Asia because of strong demand in this region that has gone up majorly in India.

He revealed that within 100 days 25,000 bookings were done and there is more demand for its cars than it can meet.

After M&M took over the Reva Electric Car Company, experts have been very curious about the future strategy for the company and how will Mahindra leverage from this acquisition.

However, Pawan Goenka, Chairman, Mahindra Reva Electric Vehicle Co. has recently clarified that the company will be launching the Reva NXR & NXG by the Q4 of 2011.

While Reva NXR and NXG would be exported to international markets too by M&M, the biggest question still remains on the branding of the products in the Indian market.

North American Financial Holdings Inc (NAFHI) has bought three US lenders. The group which is run by the head of former Bank of America Corp. investment-banking head Gene Taylor, is run on the funding generated by private investors.

North Carolina-based firm did so after the number of failed lenders in US increased to 96.

Out of the three takeovers, two were in Florida while one was from South Carolina, said the statement posted by the firm on the website of Federal Deposit Insurance Corporation.