TopNews

National Aviation Company Ltd, running Air India, targets to curtail losses by 75 per cent by the end of the fiscal year 2011-12.

According to the Nacil Chairman and Managing Director, Arvind Jadhav they shall curtail the losses by 75 per cent by the end of FY 2011-12. They shall be able to attain this because they have recorded an inclination in the number of passengers and also earnings. The airline had made a three-year rotate plan in the FY 2009-10.

Air India, mounted up loss of over Rs 10,000 crore, persisting to make operational losses.

Air India is planning to craft a main nucleus at the recently-rolled out Terminal-3 at New Delhi's Indira Gandhi International Airport to link India with the globe, an Air India official expressed on Wednesday.

According to the spokesperson the airline targets at re-locating asa essentially diverse hauler, with an inclining spotlight on offering a flawless passenger experience, whilst linking maximum travelers via non-stop and one-stop paths to destinations on its arrangement.

Apex bank, The Reserve Bank (RBI) said on Wednesday that it is going to do a survey on foreign collaborations in Indian industrial sector.

The study, said the bank, will be done so that it is able to get information related to all the financial and/or technical collaborations take place with domestic firms as a party.

India's leading acid battery maker, Exide Industries Ltd has announced that it will be investing close to Rs. 400 crore in its core business which is battery.

But, the firm also said that it may be losing money on the life insurance business it will continue to stick to it.

Talking to the media on the sidelines of an AGM, Exide Managing Director and CEO TV Ramanathan said that for the current year Exide has put aside Rs. 400 crore for expanding its capacities on the battery front.

On Wednesday, the promoters of HDFC Standard Life- HDFC and Standard Life of UK said that they are going to invest in between Rs. 300-350 crore into the business during the current financial year.

Said, Vibha Padalkar, Chief Financial Officer, HDFC Standard Life, "We will need more capital to fund new business growth. We have also increased back-ended charge products in our portfolio."

The life insurance player was formed by the JV between the above mentioned parties and is now the fifth largest insurance player in the private sector side.

India's second largest two-wheeler maker, Bajaj Auto on Wednesday announced it is thinking of issuance of bonus shares. And for the same purpose the board of the company is going to meet on July 22.

This is 13 years later that Bajaj is again thinking of having bonus shares. Analysts expect that this step was taken since the company has been facing falling share values and a remarked fall in the investor confidence.