Share Market News

Policy meetings of European Central Bank (ECB) and Bank of England (BoE) are due later today. Analysts expect ECB to hold interest rates steady at 4% but see the BoE cutting rates due to weak consumption that has sparked fears of a slowdown in the economy. The next Fed rates decision is due on 30 January 2008. Fed is expected to cut rates by at least 25 basis points.

India's top commercial vehicles maker by sales Tata Motors moved up 0.95% to Rs 777.80. Ratan Tata, chairman, Tata Motors, unveiled the People's (Rs 1 lakh) car today. The car has been christened Nano. The car would be commercially launched in the second half of 2008 and would be produced at the Singur plant in West Bengal. The car is powered by a 624 cc, 30 bhp engine. The car will deliver about 20 kilometers per litre (kpl) mileage. The company plans to launch the car in Africa, Latin America and South East Asia, as well.