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Indian IT firms lift lid on hiring
Industry experts still remain cautious on numbers.

Next big resistance at 5,400
As expected, the S&P CNX Nifty closed at 5,201 levels on long rollovers in index futures and key stocks futures. The index is expected to consolidate above 5,200 in the new series before moving above the short-term target of 5,350. The rollovers in the Nifty January futures, at 22 million, were at a five-month low, which indicates that bears are waiting in the wings. At similar point in July 2009, the Nifty had gained over 500 points in a couple months to move above 5,000 in September 2009. A similar trend may see the Nifty moving above 5,500 in the near future.

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M&M signs two agreements with SBH for vehicle finance
Auto major Mahindra & Mahindra (M&M) today signed two MoUs with State Bank of Hyderabad (SBH) for vehicle finance.
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Royal Enfield to invest Rs 80 crore

Motorcycle manufacturer and part of Eicher Motors, Royal Enfield, would invest Rs 60-80 crore to double the capacity of its Chennai plant to 100,000 units by 2013. - Indian promoters buy out Mitsubishi"s stake in Eicher Motors - Royal Enfield plans to ride on brand value, globally - Gunning forward - Jump the queue - Royal Enfield plans to double sales, exports in 3 years - Royal Enfield launches Classic 500 Speaking to Business Standard after flagging off Southern Odyssey here on Tuesday, Siddhartha Lal, managing director and CEO, said the proposed investment would be made over a period of three years. This apart, it is also targeting to increase exports to 10-15 per cent by 2012. Currently, exports account for five per cent of the total sales. “We are looking at Latin America, Africa and West Asia besides strengthening our presence in Europe and the US,” said Shaji Koshy, divisional general manager, Royal Enfield, adding they would enter Russia, Israel, West Asia and California by 2010. The company has a turnover of Rs 400 crore, which it aims to double by 2012. To achieve the target, he said the company would go for one big launch every year. It recently launched Classic 350 and Classic 500. The Odyssey series is aimed at promoting adventure motorcycling. The Southern Odyssey would see 22 riders cover 3,000 km in Tamil Nadu and Bangalore. “Next year, we plan to launch Nepal series,” said Koshy.


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