Cars will become costlier from January with major manufacturers Maruti Suzuki and Hyundai stating that they will hike prices from next month, joining the likes of Mercedes, BMW, Audi and Honda. “Maruti Suzuki will increase prices from January 2014 as input costs have been going up and we cannot continue to absorb all of it. We will pass on some part of it to the customers,” Maruti Suzuki India COO (marketing and sales) Mayank Pareek said. Hyundai Motor India also said it is looking to take a similar step from next month to offset rising input costs.
Mercedes-Benz to hike prices up to 10%
Mercedes-Benz has announced a price hike of up to 10% across its models from January 1 to offset the higher cost of imports on the back of a weak rupee versus dollar and euro currencies. Mercedes follows compatriot rivals BMW and Audi, which recently also announced price increases of up to 10% and 5%, respectively. Mercedes Benz India MD and CEO Eberhard Kern said: “As market dynamics continue to evolve, we are committed to offer the best luxury experience.”
Hilton inks agreement to open hotel in Lucknow
Global hospitality major Hilton Worldwide on Friday said it has signed a management agreement with Amrit Bottlers to open a hotel property in Lucknow as part of its expansion plans in India. The company has signed a management agreement with Amrit Bottlers for a Hilton Garden Inn hotel in Gomti Nagar, Lucknow, Hilton Worldwide said.
Lupin launches generic cardiovascular drug in US
Drug firm Lupin on Friday said its US arm has launched generic cardiovascular drug, fenofibric acid capsules used for reducing cholesterol and fatty acids in the blood, in the US market. Lupin Pharmaceuticals launched its generic fenofibric acid delayed-release capsules in the strengths of 45 mg and 135 mg, Lupin said. It had earlier received the final approval from the US health regulator for the same, it added.
Tata Sons plans to raise at least R300 cr via bonds
Tata Sons, the holding company of India's Tata Group, plans to raise at least R300 crore ($48.56 million) via two separate bond deals, a source with direct knowledge of the matter said on Friday. The firm will issue 5-year bonds at 9.76% and 10-year bonds at 9.71%, the source said. ICICI Securities Primary Dealership is the arranger to the deal.
Jaiprakash Power promoter pledges shares
Jaiprakash Power Ventures on Friday said one of its promoters, Jaypee