Maruti Suzuki India Results Disappoint; US Markets End the Week Higher

Maruti Suzuki India Results Disappoint; US Markets End the Week HigherIndian automajor Maruti Suzuki India declared 23 per cent decline in net profit on year-on-year basis. The company reported Rs 424 crore profit and blamed the decline on fall in Indian currency which impacted the import costs for the auto major which recorded an increase in net sales.

Tata Power is looking for opportunities outside India as the company looks at new ways to reduce risk in Indian market. Mr. Ratan Tata expressed that there is higher demand in India, but the market is competitive and there are many challenges in Indian power sector. The statement of Mr. Tata could be alarming for other companies in Power sector.

CMIE has predicted that there could be 7.2 per cent rise in price of Steel this year. The report expects the Steel prices to go up from October and this might cause price rise for various sectors. The demand in India has remained strong while the international demand has shown negative signals.

The US markets closed positive on Friday. Markets in Europe also ended the week on a positive note. Market experts are expecting positive opening on Monday for Indian markets.