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Congress downplays demand for CMP for UPA
Congress today downplayed demands for a Common Minimum Programme (CMP) for the UPA saying a small group will be constituted to consider the common points of the manifestos of the parties in the alliance. "A small group will be formed that will decide what are the issues in the manifestos of other parties which could be included," AICC general secretary Janardan Dwivedi told reporters after the first meeting of the pre-poll alliance partners of the UPA here.

ONGC jumps on fuel price hike
The ONGC scrip rose 7 per cent to close at Rs 1,126.45 on fuel price hike. The government raised the price of petrol by Rs 4 a litre and diesel by Rs 2 after market hours on July 1. Following the hike, experts believe that the ONGC"s subsidy burden for the current year would reduce if the crude prices stay at around $70 a barrel. The stock opened at Rs 1,081.1 and made a high of Rs 1,155.7 and a low of Rs 1,076.1. The total traded volumes stood at 1.9 million shares (around 4 times its two-week average).

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Rs 1.16 lakh cr MoUs during Koda rule
Between 2005 and 2008, Jharkhand govt signed MoUs for various mega projects.
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Bike sales grow 24% in July

On the back of 14 per cent growth in sales in the first quarter of financial year 2009-10, two-wheeler makers have reported 24 per cent growth in sales in July. The segment comprises motorcycles and scooters. The growth is a result of low base as annual sales growth last year was a mere 3 per cent. - Metal surge to take wind out of companies' sails - Hero Honda gains on 87% jump in net - Hero Honda: An outstanding performance - Hero Honda profit zooms to Rs 500 cr - Hero Honda achieves highest quarterly sales, surpasses a million mark - Hero Honda aims for 25% growth Hero Honda, the country’s largest motorcycle maker, posted 30 per cent rise in sales as compared with the same month last year. The manufacturer of bestselling 100-cc brands like Passion and Splendor sold 366,808 motorcycles as against 281,317 in the corresponding period last year. The company’s urban-rural market mix is roughly 60:40. RACING AHEAD Company 2008 2009 % change Hero Honda 281,317 366,808 30.4 TVS Motor 102,530 107,883 5 Yamaha 11,792 17,316 47 Suzuki 10,457 12,585 20 Source: Companies Piyush Parag, an analyst at Religare Securities, says the growth for Hero Honda has come basically from good volumes generated by its 100-cc brands. “Rural markets continue to contribute to the company’s total sales, which is a result of the strong distribution network.” In the second half of the year, Parag expected sales to dip since the company had gained market share rapidly last year, when the entire market shrunk. Hero Honda’s market share stands at 59 per cent. July sales for Chennai-based TVS Motor grew 5 per cent to 107,883 units as against 102,530 units in July 2008. Exports dipped about 19 per cent to 13,061 units. India Yamaha Motorcycles sales grew 47 per cent to 17,316 units. The rise comes from good demand for the company’s high-performance motorcycles belonging to the FZ and YZF series. Suzuki Motorcycle’s sales grew 20 per cent last month. It sold 12,585 units of motorcycles and scooters. The company says the demand for its 150-cc motorcycle, the GS 150 R, has been robust. Honda Motorcycles and Scooters India Ltd (HMSI) sold 112,855 units both in export and domestic markets. This number also includes exports of CKDs (completely knocked-down kits.)


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