It is unlikely that the new version of DZire will be priced lesser than the existing one, which ranges between Rs4.94 lakh and Rs7.29 lakh (ex-showroom Delhi).
India's largest car maker Maruti Suzuki India is launching a shortened version of the car that will hit the market in the first week of February 2012.
Although the model will qualify for the excise duty of 10% enjoyed by small cars, the company said it is unlikely that the new version of DZire will be priced lesser than the existing one, which ranges between Rs4.94 lakh and Rs7.29 lakh (ex-showroom Delhi).
"There are at least 150 new features compared to the existing DZire and it is unlikely that the new one will be priced lesser," Maruti Suzuki India managing executive officer (marketing and sales) Mayank Pareek said.
While the petrol version will be powered by a 1.2 litre engine, the diesel one will have a 1.3 litre engine. An automatic transmission variant will also be available in the petrol version.
The company and its vendors have invested over Rs230 crore for the model change, Pareek added.
The new DZire will be manufactured at the company's Manesar plant. MSI is looking to recover lost ground this year after it was hit by a series of labour unrest at the plant last year. Pareek said at present the DZire has a waiting period of 3-4 months and MSI is looking to address the issue by gradually ramping up the output.
In the late afternoon, Maruti Suzuki India was trading at around Rs1006 per share on the Bombay Stock Exchange, 3.03% up from the previous close.
Suzlon will play the role of a developer and facilitate the channelisation of investments into the state through its customers investing in wind energy.
Wind turbine manufacturer Suzlon Energy has signed a memorandum of understanding (MoU) with the government of Andhra Pradesh for the development of wind capacity in the state totalling 3,000 MW between 2012 and 2016, creating potential investments of up to Rs18,000 crore. The announcement was made through a filing to the Bombay Stock Exchange.
Under the MoU, the state government will facilitate Suzlon in obtaining necessary permissions, registrations and clearances for the development of the wind farms. Suzlon, in turn, will play the role of a developer and facilitate the channelisation of investments into the state through its customers investing in wind energy.
The MoU covers the development of new capacity in windfarms across the state, with development planned in the districts of Tallimadugula, Alankarayanipeta, Gandikota, Vajrakarur, Tirumalayapalli and other parts of Andhra Pradesh.
In the late afternoon, Suzlon Energy was trading at around Rs22.45 per share on the Bombay Stock Exchange.
The State Bank of India (SBI) has cut down processing fee on home loan above Rs75 lakh to Rs10,000 from Rs20,000.
The State Bank of India (SBI) has cut down processing fee on home loan above Rs75 lakh to Rs10,000 from Rs20,000, while for loans between Rs30 lakh-Rs75 lakh, the fees has been reduced to Rs6,500 from Rs10,000 earlier, a senior SBI official said.
The new fee structure is applicable starting January 11, the official added. The official, however, added that the processing fee for loans below Rs30 lakh continues to be 0.25% of the loan amount.
The reason for slashing fee is to promote home loan products of the bank, the official said.