Domestic Car Sales To Be Negative In FY13, Says SIAM; Sensex Falls For 8th Consecutive Day; Pope Surprises World, Steps Down Citing Frailty

Monday, Feb 11, 2013 DOMESTIC CAR SALES TO BE NEGATIVE IN FY13: SIAM   Domestic annual car sales are set to be in the negative territory for the first time in a decade with the Society of Indian Automobile Manufacturers (SIAM) today saying that its growth forecast of 0-1% for this fiscal will not be met as gloomy macro-economic factors and negative sentiments continue to hit demand. The statement by SIAM comes on the back of January numbers also showing a decline of 12.45% to 1,73,420 units, the third consecutive monthly decline since November last year. Bike sales also lost momentum, growing by just about 7.45% in January to 886,527 units. Scooter sales were up 10.9% to 252,094 units units. Sales of trucks and buses fell almost 39% last month. read more   LEAD STORIES SENSEX FALLS FOR 8TH CONSECUTIVE DAY; ONGC SLIPS 1.7%  Markets continued its longest losing streak since May 2011 as Sensex closed at 19,460.57 down 24.20 pts, while Nifty ended at 5,897.85. read more ONGC Q3 NET PROFIT DOWN 17.5% TO RS 5,563CR  ONGC Q3 sales rose by 15.8% to Rs 20,987 cr from Rs 18,123 cr (YoY). Gross Realisation declined at $110.16 a barrel. read more POPE SURPRISES WORLD, STEPS DOWN CITING FRAILTY  Pope Benedict XVI will step down on Feb 28, the first to do so in 600 years. The 85-year old Pope is resigning "because of advanced age". read more TOP STORIES • Subbarao warns of record current account deficit   • FM to meet state FMs on Feb 14 on GST rollout   • Cipla puts $215 mn South Africa bid on hold   • Ericsson wins $1 bn contract from Rel Comm   • Rupee at two-week low, slumps 35 paise to 53.85/$   • Land acquisition for Posco halted 'temporarily'   • Govt to give Rs 25,000 cr addl fuel subsidy to OMCs   • A third of retailers facing 100% attrition: TCS-RAI   • SC fiat to Govt, telecom firms on 2G spectrum issue   • Tata Power surprise net loss of Rs 329 cr in Q3   • Diageo gets more time for United Spirits open offer   • Cash pile grows but govt not to cancel bond auction   • MCX-SX starts trading, setting up battle with NSE   • BPL in the final leg of settling debt burden legacy   • HC quashes SKS petition challenging AP MF Act   • Volkswagen's $70 bn bet to build a "global car"   • Novo Nordisk hit hard as U.S. rebuffs insulin drug   • U.S. Air, AMR near $11 bn merger   • Australian musician Gotye scores big at Grammys   • 'Argo' wins 'best film', 'best director' at BAFTA   more stories TOP VIDEOS India is headed for the highest ever current account deficit this fiscal, after it rose to 5.3% of GDP in the second quarter: D Subbarao, RBI Governor   I Am Very Bullish On India Because It Is Really The Aspiration Of A Billion People: Mukesh Ambani, Chairman, Reliance Industries   AT A GLANCE BSE 19460.57 -24.2 NSE 5897.85 -5.65 TURNOVER Rs. 94,190 cr BSE CASH Rs. 2,118 cr NSE CASH Rs. 9,450 cr NSE F&O Rs. 76,804 cr BULLION GOLD 30644 -171 SILVER 57772 -474 CRUDE NYMEX 95.43 -0.29 BRENT 117.97 -0.93 FOREX $ / Re 53.845 +0.34 £ / Re 84.69 +0.04 € / Re 72.217 +0.64 EVENTS TO WATCH 13 February Centre To Meet State Food Ministers On Food Bill 15 February EPFO Trustees Meet TO Decide On PF Interest Rate 18 February Power Advisory Group Meet 20-21 February Bank Employees To Go On Strike 24 February The Academy Awards Ceremony

BIG ADVANTAGE INDIA BUSINESS UPDATE I look forward to 8 o'clock every evening. If I am travelling, CNBC-TV18 India Business Update is my feedback for what happened in India on that day. It is extremely important for me as it tells me what happened during the day in India and helps me think through the next day. Ashok Wadhwa, Group CEO, Ambit Holdings

"If you take the macroeconomic context today, you find that growth has moderated, inflation has come off the peak, but even at 7% plus, it is still high. However, the person pinched by inflation does not have a platform and I think both the RBI and the government should take care of that part of the population." D Subbarao Governor, RBI "The beauty of India is that all our billion people count. And they have aspirations. And it is really a bottom-up story. It's not a top-down story. So, yes, we will, adjust with what happens in the rest of the world, but we are on a long-term growth trajectory. And this is just not growth in terms of GDP numbers. This really is for well being of each and every Indian. And that's the aspiration." Mukesh Ambani Chairman & MD, RIL "Strength of mind and body are necessary, strength which in the last few months has deteriorated in me to the extent that I have had to recognize my incapacity to adequately fulfill the ministry entrusted to me." Pope Benedict XVI