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Mukesh Ambani’s Reliance Industries has got an upgradation in ratings by Fitch Ratings, on Tuesday.

As per Fitch, which is one of the three major rating agencies in the world, the Long-term local currency Issuer Default Rating (LC IDR) of RIL was given ‘BBB’ against 'BBB-'.

In the Long-term foreign currency IDR (FC IDR) it was awarded 'BBB-' and the National Long-term Rating were at 'AAA(ind)'.

The IDRs and National Long-term Rating continued to stand at the same ratings as they were last time and was Stable.

While the latest report by RBS expects the cars to still see high volume growth, but lower profitability in the coming times, it believes that the two-wheelers sector will see the most profitable growth and expects CVs to be threatened by new entrants in the industry.

After making its presence felt in the premium segments in the Indian passenger car market, Ford’s Figo has established the brand of the company in the past two months in the domestic small car segment.

It is believed that it is a very encouraging sign for the Asia strategy of the automaker as the company has been able to bank high numbers following the launch of Figo. It may be noted here that Ford sold 7,509 cars in the month of April 2010.

Notably, the unit sales achieved in the last month are more than three times as compared to what it sold in the same month last year.

United India Insurance has announced its fourth quarter financial results for the fiscal year 2009-10 and has managed to post a significant net profit and revenue. The firm has posted a net profit of Rs 707.09 crore for the quarter that ended in 31st March, 2010. This net profit figure was at Rs 476.05 crore for the same quarter in the preceding year.

In the midst of the whole hullabaloo around the sharing of regulatory jurisdiction in ULIPs, the Insurance Regulatory and Development Authority (IRDA), has taken a strong step ahead.

IRDA issued its set of guidelines for the financial instruments, a report by private news channel CNBC TV 18 revealed on Tuesday.

One of the main clauses is that the ULIPs are going to have five years as their policy term. Earlier, it was just three years.

After facing labor unrest at its Chennai plant on a continuous basis, the Korean automaker, Hyundai Motors India has decided to talk to its sacked employees directly rather than going the route of the trade unions.

It may be noted here that Hyundai motors India has been facing labor problems on a on & off basis in its Chennai plant and according to a company statement issued recently, the company will be contacting the workers directly for settlement who were dismissed on disciplinary grounds.