The Mint Report for 07 June 2011

The Mint Report for 07 June 2011

French finance minister Christine Lagarde says India has positive views about her suitability for the top job at the IMF. But India has made it clear it has made no commitments about supporting her. Lagarde came to Delhi to garner support for her candidacy to become managing director. Her next stop is Beijing.

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Moving on, the strike at Maruti Syzuki’s Manesar plant has completed its third day and shows no sign of ending. On Tuesday the company said it was still talking to the striking workers, who are demanding recognition of their union. Around 800 workers have been on strike since Saturday and Maruti has fired 11 of them. Shares of the company climbed 1.06% on the BSE to 1245 despite the strike, on a day overall markets also gained.

Indian shares may have started slowly, but they ended Tuesday with solid gains. The Sensex jumped 76 points to 18,496. And the Nifty jumped 24 to 5,556.