Tata Motors, one of the largest automobile manufacturer in India, has announced closing of the Jamshedpur plant owing to a demand slump. A company spokesperson said, "About 95 per cent of commercial vehicles are purchased through financing. While we do not declare production rates, unavailability of finance, coupled with high interest rates, is forcing customers to postpone purchases."

Hyundai Motor India Ltd. (HMIL) launched the i20 cars in the European market. These were premiered at the Paris Motor Show last month. The company has dispatched a consignment of 2,820 cars from the Chennai port for Europe. 

i20s are very sophisticated new generation vehicles of Hyundai. These are designed at its Russelsheim design center in Germany. It is designed to fit in the European environment and pollution norms. The car will be available in 1.2 litre, 1.4 liter and 1.6 liter variants and will be powered by both diesel and petrol engines.

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Alkali Metals, engaged in the business of manufacturing a range of fine chemicals, has got listed on the Bombay Stock Exchange (BSE) at a discount of 12.62% at Rs 90 as against its issue price of Rs 103.
 
The stock is assigned the scrip code 533029 and is placed in the `B` group on BSE.

At 10.04 a.m. on the BSE, the scrip was trading at Rs 122.50, up 18.93%, and about 357,466 shares got traded within minutes of its listing. The scrip also touched a high of Rs 137.70 and a low of Rs 90.

Aircel, one of the fastest growing telecom companies, with a subscriber base of over 10 million, has announced handing over of Revenue Assurance and Fraud Management in the 23 circles across the Indian Subcontinent to Subex Ltd, the leading global provider of OSS/BSS solutions for communications service providers and Wipro Infotech, the India and Middle East IT business of Wipro Ltd.

On Monday, Amazon.com informed about its initiative under which it is working with retailers to cut back on the packaging to provide the consumers with easy to open packaging.

It has been decided by the Seattle-based company that instead of putting a pre-boxed or plastically sealed item inside another Amazon box, it will start shipping items in plain brown cardboard boxes.