Sensex dips in light of uncertainty
arising from Sebi meet
Mumbai: The looming uncertainty on the
fate of the badla/carry forward system, which is to be decided in the ensuing Sebi
meeting, saw trading volumes dry up and the benchmark index, sensex, dipping.
While some of the new economy stocks like
Zee Telefilms and NIIT performed well at the end of the last session of the current
settlement at the Bombay Stock Exchange (BSE) on Friday. Otherwise the market remained
subdued. The combined turnover at both the BSE and the NSE remained low at Rs 2,798 crore.
The BSE Sensex closed at 3,559.77, while
S&P CNX Nifty of the NSE was down by 4.45 points at 1140.95 points.
Zee Tele and NIIT, the index-based new economy shares were the star performers, attracting
good support from FIIs, which helped to limit the Sensex fall. Software bellwether Infosys
Technologies also received some buying support from FIIs at the fag end and closed with
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Auto plans splitting sales channels
New Delhi: In a dramatic shift from the
past, it is understood that leading two-wheeler company, Bajaj Auto, is planning to split
its sales channel for two and three-wheelers.
This move will see the company selling
its two- and three-wheeler products through separate networks as compared to the current
practice of selling them through the same network.
According to the companys executive
director, RL Ravichandran, the company has initiated dialogue with its dealers to have
separate outlets and manpower for two-wheelers and three-wheelers.
It is understood that the new models being
introduced in the two-wheeler segment is one reason for the move, since the three-wheeler
vehicles are very bulky and occupy prime space. Further, the ambience in the sales
showroom needs to be different for the sales of the two products. The company is also
planning to improve its penetration in terms of servicing.
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