2-June-09 News Headlines

Corporate News Headline

•Maruti Suzuki India reported a 15.75% jump in the total sales in May at 79,872 units as against 69,001 units in the same month last year. (BS)
•Parsvnath Developers is planning to invest Rs. 7 bn to develop a premium luxury housing project at Civil Lines in the national capital and expects a realisation of about Rs. 13 bn in three fiscals. (BS)
•Sun Pharmaceuticals is planning to spend Rs. 3.32 bn in research & development of low-cost version of original drugs to be sold in domestic and global markets. (ET)


Economic and Political Headline

•The global downturn has taken the wind out of the sails of India's exports, which fell the most in 14 years in April, by 33.2%, over the same month last year, while domestic slowdown led to imports dropping by 36.6% in the same period. (BS)
•The US factory index rose to 42.8, the highest level since September, from 40.1 in April, spurred by the first gain in new orders since the recession began, a sign companies are increasingly confident the slump will end this year. (Bloomberg)
•The UK manufacturing index rose to 45.4 from 43.1 in May, more than economists forecast and to the highest in a year, adding to signs that the recession may be past its worst. (Bloomberg)
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