Maruti's August sales rise 27 per cent to 1,10,776 units

The country's largest car-maker Maruti Suzuki India  today reported 26.9 per cent increase in its total sales in August at 1,10,776 units as against 87,323 units in the same month of previous year. 

Domestic sales during the month stood at 98,304 units, up 29.3 per cent from 76,018 units in August of previous year, Maruti Suzuki India (MSI) said in a statement. 

Sales of mini passenger cars, including Alto, A-Star and WagonR were up 8.3 per cent at 34,686 units as against 32,019 units in the previous year. 

MSI said during the month, sales of its compact cars, comprising Swift, Estilo, Celerio, Ritz and Dzire were at 46,759 units as against 30,512 units in the year-ago month, up 53.2 per cent. 

Dzire Tour sales were at 1,328 units as against 520 units in August last year, up 114.2 per cent. 

Sales of mid-sized sedan SX4 were down by 85.6 per cent to 50 units as against 348 units in August of previous year, the company said. 

The company's sales of utility vehicles, including Ertiga and Gypsy were at 5,491 units as against 4,563 units, up 20.3 per cent. 

Van sales, comprising Omni and Eeco were at 9,990 units as compared to 7,956 units in the previous year, up 25.6 per cent, it said. 

Exports in August were up 10.3 per cent to 12,472 units from 11,305 units in the same month of previous year, it added. 

Bharti Infratel eyes acquisition of Vodafone, Idea towers

Bharti Infratel   is eyeing the acquisition of Vodafone and Idea  towers in India. Sources suggest that the telecom major is in initial talks with both the companies for part or complete buyout while exploring various fundraising options. Currently, Vodafone has 25,000 towers in India whereas Idea has 9,400 towers. However, valuation of towers is yet to be assessed. Bharti Infratel has a cash flow of over Rs 2,000 crore but will need to raise capital to buyout towers.

Rupee up 3 paise against the US dollar in trade

The rupee recovered by three paise to 60.47 against the US dollar in early trade today on sustained foreign capital inflows amid the country's economic growth rate improving to two-and-half year high of 5.7 per cent in the April-June quarter. 

Increased selling of dollars by banks and exporters amid soaring equity markets on the back of heavy buying by foreign investors also supported the rupee.

The rupee had eased by five paise to close at 60.50 against the dollar in the previous session on Thursday.