Briefly Business: Oil stocks rally, Sensex rises 146 pts; Nifty by 37 pts

Oil stocks rally, Sensex rises 146 pts; Nifty by 37 pts

Mumbai: Led by gains in state-run oil companies, the BSE Sensex staged a comeback on Thursday after the government allowed them to set diesel prices. The Sensex closed with a gain of 146.40 points to settle at 19,964.03 points as Reliance Industries and ONGC jumped over 3 per cent each. The NSE Nifty rose by 37.35 points at 6,039.20.

Honda to launch four two-wheelers per year

New Delhi: Honda has said it will launch at least four products every year in India with its first integrated R&D centre here coming onstream. The company also introduced upgraded versions of its three scooters, Activa, Dio, Aviator with HET engines.

India to see 6.1% growth this year: UN

New Delhi: The Indian economy is projected to grow at a slower pace of 6.1 per cent this year even as exports and investments are likely to be much better than in 2012, according to the United Nations. The UN has trimmed its forecast from 7.2 per cent estimated in June.

Annuity allocations for PPPs to be capped

New Delhi: The government on Thursday decided to put a cap on budgetary allocations for annuity payments for the PPP projects to do away the burden on future budgets.

Hero MotoCorp Q3 net falls 20%

New Delhi: The country's largest two-wheeler manufacturer, Hero MotoCorp, on Thursday missed market estimates by posting a 20.41 per cent drop in its net profit at Rs 487.89 crore during the October-December period, largely on the back of sluggish sales and rising cost incurred on inputs as well as marketing and brand-building exercises. During the same period last year, it had posted a net profit of Rs 613.03 crore.

Total income during the period went up 2.51per cent to Rs 6,187.62 crore. Ebitda margins stood at 12.59 per cent, lower than the 13.86 per cent in Q2 and 15.6 per cent during the same period last fiscal.

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