Dennis Berman of The Wall Street Journal, discusses a report that Amazon will start testing deliver drones in India. CNBC's Jon Fortt provides insight.» Read More
*Auto makers, including Maruti Suzuki and Mahindra& Mahindra. KEY EVENTS Mon: Sept. inflation data Mon: Reliance Industries, Axis Bank earnings. Mon: Australian Prime Minister Julia Gillard visits India Tues: Maruti Suzuki.
MUMBAI, Oct 12- India's foreign exchange reserves. rose to $295.04 billion as of Oct. 5 from $294.81 billion in the previous week, the central bank said in its weekly statistical supplement on Friday. Foreign exchange reserves include India's Reserve Tranche position in the International Monetary Fund.
The differential was assessed $1.10 higher at a premium of $1.50 a tonne above Singapore spot quotes, highest since Oct. 3, according to Reuters data. Low offers placed by Shell resulted in three 180- cst deals during the physical trading window, which were done at parity to a premium of 50 cents a tonne above Singapore spot quotes.
*Investors consolidate; $1,760/ 50 seen as support level* U.S. producer prices rise in September* China, India demand falls By Clare Hutchison.
SINGAPORE, Oct 12- The Asian naphtha price and margins ended the week at a three-session low of $985 a tonne and $123.03 a tonne respectively to mirror the fall in European values as gasoline demand softened. "The fall in margins today was a reflection of the gasoline market in Europe," said a Singapore- based trader.
MUMBAI, Oct 12- India aims to divest stakes in state-owned companies Oil India Ltd, Hindustan Copper Ltd and National Aluminium Co Ltd by November, the official in charge of the government's divestment programme said on Friday. Haleem Khan, secretary at the department of divestment, said.
India's Essar Oil has offered its first November loading cargo which will make it the company's fifth diesel export in two years.
Oct 12- The U.S. government is investigating allegations that CVS Caremark Corp refilled prescriptions and submitted insurance claims to Medicare without getting approval from patients, the Los Angeles Times reported.
THE ROYAL BANK OF SCOTLAND GROUP PLC. The bank appointed John Shelley as chief risk officer, Asia Pacific. He was most recently chief administrative officer for markets& international banking, Asia Pacific.
Oct 12- Outsourcing company iGate Corp posted a higher quarterly profit as margins rose but said delays in contract renewals slowed revenue growth. Net income rose to $28.3 million, or 27 cents per share, in the third quarter, from $14.3 million, or 10 cents per share, a year earlier. Revenue rose 2 percent to $271.1 million.
*Chemring profit warning contributed to delay- source. has been granted more time by the UK Takeover Panel to hammer out a deal to buy Chemring Group Plc, which makes defence equipment such as flares and explosive device detectors. Carlyle now has until Nov. 9 to either bid for Chemring or walk away.
MUMBAI, Oct 12- Indian shares fell on Friday, posting its first weekly fall in six, as Infosys slumped after disappointing investors with its growth outlook, with caution also setting in ahead of key inflation data next week.
MUMBAI, India-- An Indian court Friday ordered the arrest of the highflying owner of Kingfisher Airlines for bouncing checks, adding to the beleaguered airline's woes as its struggles to resume flights that have been grounded since the start of the month.
SINGAPORE, Oct 12- India's diesel exports for October are expected to increase by 20 to 30 percent from previous months as domestic demand remains poor due to the delayed monsoon season and a weak economy, industry sources said on Friday.
MUMBAI, Oct 12- India's HDFC Bank Ltd will consider reviewing the bank's base rate at some point during the current quarter as deposit costs have come down, Executive Director Paresh Sukhtankar said on Friday.
MUMBAI, Oct 12- UK- based The Children's Investment Fund Management said on Friday it has filed a lawsuit in Calcutta High Court against the directors of state miner Coal India Ltd for failing to perform their functions with care and skill.
*Cars to be priced between 5,000- 10,000 euros- sources. BERLIN, Oct 12- German carmaker Volkswagen. Europe's biggest carmaker is eyeing a price range of between 5,000 and 10,000 euros for the budget cars which may include a van, estate and a small sedan, the sources said, confirming a report in German business daily Handelsblatt.
MUMBAI, India-- India's Kingfisher Airlines has stopped selling tickets on its website through Oct. 20, casting doubt on its promise to end a two week shutdown Friday. Kingfisher, once one of India's best airlines, grounded flights on Oct. 1.
Oct 12- HDFC Bank, India's No.3 lender, met forecasts with a 30 percent year-on-year rise in second quarter profit, led by stronger loan growth, greater fee income and stable net interest margins.
MUMBAI, Oct 12- As pressure builds on India's central bank to ease monetary policy after a slew of fiscal and economic reforms, the debt market is cautiously positioning for policy rates to be cut, but remains unconvinced that it will happen this month.