Mahindra & Mahindra (M&M) on Tuesday, 10 July 2012, said it has suspended its plans to develop a vehicle for the US market due to changes in the US regulatory and market situation. M&M will continue to monitor the US situation and remain flexible with its approach to this market, the company said in a statement.

Housing finance major HDFC will announce its Q1 June 2012 results today, 11 July 2012. CMC and Uflex, among others, will also declare their April-June 2012 quarter results today, 11 July 2012.

Grasim Industries had fully suspended production at its staple fibre plant and partially suspended chlor-alkali plant at Nagda (Madhya Pradesh) due to water shortage in the region. However, with the onset of monsoon, the availability of water has improved and accordingly the production in these plants is being restarted in gradual manner and the full production is expected to be restored by 12 July 2012, Grasim said in a statement.

Capital market regulator Sebi has approved MCX Stock Exchange (MCX-SX) to launch stock trading. MCX-SX - promoted by Financial Technologies (FT) and commodity exchange MCX - said in a press release on Tuesday night that it had received approval from the Securities & Exchange Board of India to begin operations in new asset classes. At present, MCX-SX offers trading in currency futures.

Sebi has granted MCX-SX permission to deal in equity and equity futures & options, interest rate futures and wholesale debt segments subject to a few conditions. The regulator has mandated that the promoters of MCX-SX - MCX and FT - cut their shareholding to 5% within 18 months from the date of approval, i.e., 10 July 2012. MCX and FT will also have to reduce their entitlement to equity or rights over equity arising from instruments such as warrants in excess of the shareholding as specified in the regulations within three years.

Titan Industries may reportedly acquire Canada-based luxury watches and jewellery retailer Harry Winston. The deal is estimated at $1 billion.