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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.

The Reliance Industries limited, led by Mukesh Ambani reported a 32.32 per cent leap in the total amount of gains by the company at Rs 4,851 crore in the first quarter ended June of the current fiscal, this Tuesday.

The total amount of profit made by the company stood at Rs 3,666 crore last fiscal in the corresponding quarter, as reported by Reliance Industries in a filing to the Bombay Stock Exchange (BSE).

The RBI hiked its chief short-term lending and borrowing interest rates today by 0.25 percent and 0.50 percent respectively with the aim to bring inflation down to 6 percent by March 2011 from the current double digits, and projecting the economic growth to be 8.5 percent this fiscal. The increase in the borrowing and lending rates to 5.75 percent and 4.5 percent will be effective immediately.

Even earlier this month, the RBI had hiked its interest rates by 0.25 percent in its endeavour to reduce the inflation which remained above 10 percent for a continuous fifth month.

Pop singer Rihanna is going to make her debut in acting with the board game-based movie Battleship, as she has signed a deal on Monday. The movie by Universal Studios also stars Alexander Skarsgard and Taylor Kitsch.

The 22-year old singer will join the unit with Alexander Skarsgard of True Blood fame and Taylor Kitsch of Friday Night Lights fame. The shooting of the film is expected to start very soon under the direction of Peter Berg. It is expected to release in May 25, 2012.

Amrita Rao donning a bold avatar in the Bollywood movie Short Kut had astounded many. However the actress, who is best recognized for portraying the image of a traditional Indian girl on the silver screen, claims that she is not going for a complete change.

The 29-year old actress says that she has no uncertainties in portraying characters that have a variety of shades and her celluloid-image depends on the type of roles that she bags.

Ravi Baswani, the talented comedian-actor has passed away on July 27, 2010, marking a sad day for the entire Bollywood industry. The actor showcased his talents in such Bollywood gems like Jaane Bhi Do Yaaron and Chashme Buddoor. He was 64 and died out of a huge heart-attack while returning from Shimla.

Filmmaker Sai Paranjpe who earlier had directed Ravi Baswani uttered his fright with the death of the actor. He said that Ravi was an introvert and was immensely talented. He, however, never got the right kind of justice in the film industry when he was alive.