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Amidst the rising competition in the Indian compact car market, the days have surely changed a lot when compared to the days when Sanjay Gandhi thought of opening Maruti Udyog.

The Vice Chairman and MD of the M&M group, Anand Mahindra has recently announced that he is stepping down from the post of Chairman of Mahindra Forgings.

According to the statement issued by the company, Hemant Luthra has been elevated to the post of Non-Executive Chairman. It is to be mentioned here that Hemant Luthra has served the company as a director so far.

European shares climbed the ladders on Thursday, violating a important technical echelon, as the poise was improved by positive earnings, while the banks augmentation is moving ahead of the results of stress experiments.

Attitude was also floating since the European procurement managers' indices depicted that the private sector ventures movement geared up in the month of July, perplexing prospects for a economic slump in development and soothing doubts about a double-dip recession.

With a view to consolidate its position in the Indian UV market, Mahindra & Mahindra has recently said that the company will be launching he 4WD model of its MPV Xylo soon in the Indian market.

In fact, according to the recent reports released by the media, the company is expecting to launch the model in the Indian market by the end of the 2010. it has been learned that as the company is expecting to the garner a high market share in places like India & South Africa, it has started to experiment with various models.

LIC Housing Finance has reported its first quarter financial results of the current fiscal year.

According to LIC Housing Finance, the net profit of the company has gone up by an impressive 71% in the quarter under review against the like period in the previous year.

The company has registered net profit of Rs 212 crore during the first quarter ended in 30th June 2010. It was Rs 123.84 crore during the corresponding period in the fiscal year 2009-10.

Operating under an environment where Indian are developing love for luxury cars at a new level, Porsche has also decided that it is not going to miss on the Indian luxury train. In fact, Precision Cars India, the official Porsche importer for India has recently unveiled the second generation Porsche Cayenne in the Indian market.

As the national launch of the product took place in the Mumbai region, the company said that the product offers more power on less fuel, greater efficiency and lower CO2 emissions.