OBTUSE ANGLE: By B. P. Acharya
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TVS Motor's two-wheeler sales up 36% in June

Chennai-based TVS Motor Company today reported a 35.72% increase in its total two- wheeler sales in June at 1,56,685 units.

The company had sold 1,15,448 units in the corresponding month last year, TVS Motor Company said in a statement.

Motorcycle sales of the company during the last month rose by 44.31% to 66,452 units from 46,048 units in the year-ago period, it added.

Domestic two-wheeler sales in June 2010 stood at 1,39,905 units, up 32.79% over 1,05,361 units in the same month in 2009. Exports of two-wheelers during the month rose by 66.35% at 16,780 units as against 10,087 units in June 2009.

On Thursday, TVS Motors' shares ended 0.8% lower at Rs118.35 on the Bombay Stock Exchange where the benchmark Sensex closed 1% down at 17,509 points.

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US Exim approves Reliance Power's Sasan project

Reversing its earlier decision, the US Exim Bank has agreed to provide $600 million in loan guarantees to suppliers for Reliance Power's (RPL) coal-fired project and a mine in Sasan, Madhya Pradesh.

Wednesday's announcement would help preserve 1,000 jobs in Wisconsin and 13 other states.

Last Thursday, the Export-Import Bank of the United States had rejected a request from Reliance Power to finance the projects on environmental grounds.

The 3,960 MW coal-fired power project is projected to emit 26,000 to 27,000 tonnes of carbon dioxide per annum.

The loan guarantees are for US-made mining equipment that Reliance Power has contracted to purchase from Bucyrus International, a Milwaukee, Wisconsin-based company.

On Thursday, Reliance Power shares ended 1% lower at Rs169.50 on the Bombay Stock Exchange where the benchmark Sensex closed 1% down at 17,509 points.

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