Indian Shares

 Inflation in India rose more than expected in early February to a six month high on rising food prices and fuel prices. Inflation remains below the Indian central bank's target rate of 5% but economists say it could breach that level in the near future"

More info food and fuel.

India's economy is growing faster than expected, according to official data, on the back of steady farm growth and strong manufacturing and services. Gross Domestic Product (GDP) grew 9.3% in the April to June quarter from its level a year earlier.

The figure, from the Ministry of Statistics, had been expected to fall to 8.9% from the 9.1% recorded in the quarter between January and March. The central bank expects growth of 8.5% for the whole of this year.

Microsoft announced today that it will distribute free software to nonprofit groups to boost charity in India. The software donation will be routed through a technology assistance program that India's NASSCOM Foundation is offering in partnership with TechSoup.

Genovate Solutions Pte Ltd of Singapore, a provider of business IT solutions today announced the establishment of five new offices in India, increasing the company's total presence to 12. Genovate's major lines of business at present includes, SAP solutions training both Instructor led and e-learning, SAP Consulting/ Implementation & Maintenance Services for Mid Markets, RapidStart (Integrated Retail and Business Management software) and Knowledge Window Asia Pacific (KWAP) Training Centre.
Revenue from International Operations are expected to contribute up to 70 to 80% of Genovate's total annual Revenues, with 40% of this from the Indian market alone. To support the growing market demand for business solutions in India, these new offices will be established in Hyderabad, Thane, Bangalore, Baroda and Lucknow, to further increase Genovate's ability to provide better information technology solutions, sales of products and services, information technology training and education, as well as consulting and implementation services in respect thereof.

India's Tata Group has confirmed that TATA is interested in acquiring Jaguar and Land Rover from their parent, Ford. The BBC reports that while speaking to Indian TV, Ratan Tata lifted his previous refusal to speculate on a possible Tata bid for the legendary British brands. He said Tata's interest in Jaguar and Land Rover stemmed from a desire to expand its global presence.