Ashok Leyland on Tuesday reported a 70 per cent drop in M&HCV truck sales in the domestic market during the month of August to 3,336 units from 11,135 units, a year ago. Total sales of M&HCVs, including buses, dropped by 63 per cent to 4,585 units from 12,420 units in the previous year.

The sales of light commercial vehicle fell 12 per cent to 3,711 units in August 2019 from 4208 units in August last year. Total vehicle sales, including all these categories, declined 50 per cent to 8,296 units from 16,628 units in August, last year.

Life Insurance Corporation of India is investing another ₹4,700 crore in IDBI Bank. This will be in addition to the ₹20,000 crore that the country’s largest insurer earlier injected as part of a deal to acquire a 51% stake. IDBI would also get ₹4,557 crore from the government. With bad loans hovering at more than 29%, the bank is among the best suited candidates for capital infusion. But calling upon LIC to do so isn’t the right way to go about it.

Former India women's team skipper Mithali Raj on Tuesday announced retirement from T20 Internationals in order to focus on the 2021 ODI World Cup to be held in New Zealand.

Mithali led India in 32 T20Is, including the three Women's WT20 World Cups in 2012 (Sri Lanka), 2014 (Bangladesh) and 2016 (India).

Mumbai: Domestic equity benchmark BSE Sensex dropped below the 37,000 level, plunging over 500points, in afternoon trade on Tuesday tracking heavy selling in financial sector and auto stocks amid weak domestic and global cues.

The 30-share index was trading 516.79 points, or 1.38 per cent, lower at 36,816.00 in afternoon trade, while the broader Nifty sank 151.95 points, or 1.38 per cent, to 10,871.

Manu Bhaker and Saurabh Chaudhary staged a remarkable comeback to claim the mixed 10m air pistol gold, ending India’s campaign on a rousing note in the World Cup.

Representing the other Indian team in the same event, Yashaswini Deswal and Abhishek Verma won the silver as India picked up the maximum possible medals on the final day of the tournament.

Infrastructure major L&T on Tuesday said its construction arm has bagged the contract for construction of the Navi Mumbai International Airport. The company did not provide value of the contracts but said the orders fall under “major” category which ranges between Rs 5,000 crore and Rs 7,000 crore as per its classification of contracts.

The state-run carrier Air India is still the market leader to fly on international routes with more than double the capacity of rival IndiGo, the airline said on Monday. The clarity on the matter comes a day after a report said that the Maharaja has been pipped by IndiGo as the later “now has the largest share of international seats to/from India”, a consultancy firm, Centre for Asia Pacific Aviation (CAPA), said in its report on August 31.

In the competitive fashion e-tailing segment, smaller e-tailers and online-first private labels are now flocking to the sector’s mega marketplaces in order to survive. Consider how fashion marketplace Voonik, which has pivoted its business model to become a fashion brand, recently launched 350 products on Snapdeal. The start-up also plans to introduce its products on Amazon and Flipkart-owned Myntra.

Reliance Jio may have big plans for its fibre-to-the-home (FTTH) services — to be commercially launched on September 5 — but analysts feel the launch of the new service would not be as disruptive for the incumbents as Jio’s mobile services had been when launched three years ago on the same date.

If at all, there’s any major disruption by the launch of Jio’s wireline FTTH services JioFiber, it will be for the state-owned Bharat Sanchar Nigam (BSNL), which is currently the market leader in this segment.

Auto industry body Society of Indian Automobile Manufacturers (Siam) on Monday sought immediate steps from the government, including reduction in GST rates and initiation of scrappage policy, as sales continued to fall with passenger vehicle makers witnessing a decline of 30% offtake in August.

Siam said even commercial vehicle and two-wheeler sales are significantly negative, indicating that the market has still not responded to the various steps initiated by the finance minister Nirmala Sitharaman last month.

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