Ford Motor Co. is set to transfer most of its assets in India to a joint venture with Mahindra & Mahindra Ltd. after failing to make meaningful inroads for more than two decades in the world’s fourth-largest automobile market, people with knowledge of the matter said.

The country's largest car maker Maruti Suzuki India on Wednesday reduced the prices of select models by Rs 5,000 (on ex-showroom prices).

These models include all variants of Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel, Ignis, Dzire Diesel, Tour S Diesel, Vitara Brezza and S-Cross, MSI said in a statement.

National Highways Authority of India (NHAI) is in discussions will the Indian Institutes of Technology (IITs) for bringing in greater efficiency in the sector by reducing the cost of road construction and improving quality in the long run.

It is learnt that the authority would engage with all the IITs for conducting studies and finding efficient and innovative solutions to highway building by way of technology.

The much awaited railway PSU Indian Railway Catering and Tourism Corporation (IRCTC) IPO for Rs 645 crore will hit the stock market on September 30. IRCTC IPO will remain open for subscription between September 30th and October 3rd. The government looks to raise to raise up to Rs 645.12 crore at the higher end of the price band. The railway PSU has set a price band of Rs 315-320 for its intended share sale.

Carrying forward its divestment plan, the government is mulling over stake sale in the five central public sector enterprises (CPSEs), CNBC TV18 reported citing unidentified sources. The government may seek cabinet nod for strategic stake sale in the state-owned BPCL, CONCOR and SCI, the report added. In addition, approval will also be sought for acquisition of THDC by NTPC and NEEPCO by NHPC, it also said.

State-owned Oil and Natural Gas Corporation (ONGC) on Wednesday said that there is no leakage at its Uran plant days after a gas leak was reported from the facility. The smell of hydrocarbon was felt today early morning that spread due to incessant rains, India’s largest oil and natural gas company said. “At ONGC Uran plant smell of hydrocarbon felt early Morning which was spread due to incessant rains. There is no leakage. All precautionary measures in place.

Shares of India’s largest state-run lender SBI plunged on Wednesday morning, after global firm Morgan Stanley slashed its share price target. SBI shares plunged more than 4.6% to hit the day’s low at Rs 288.75 on BSE. Morgan Stanley said that the upside on the shares remains limited given uncertainty on Asset quality and Net Interest Margin. The global firm noted that the recent tax rate cut outweighs lower margins. Morgan Stanley has raised the FY21, FY22 EPS estimates by 5% each.

As many as 17 Indian companies, including Infosys, TCS and HDFC, have been named in the list of World’s Best Regarded Companies compiled by Forbes. IT major Infosys has been ranked third in the list of World’s Best Regarded Companies, along with global payments technology company Visa and Italian car-maker Ferrari on the first and second position, respectively. Infosys jumped to the third spot from 31st position in 2018. “Infosys’ leading position headlined an Asian invasion in the rankings,” Forbes said.

The one-day strike on Tuesday by coal workers against FDI in the sector has led to an estimated loss of 1 million tonnes (mt) in production as the Centre looks to initiate talks with the unions to normalise the situation by Wednesday.

The strike has affected production across the subsidiaries of Coal India and Singareni Collieries.

Mumbai: Indian stock markets may be tepid on Wednesday as global peers are weak. Asian stocks fell on Wednesday after US lawmakers called for an impeachment inquiry of President Donald Trump, increasing the prospects of prolonged political uncertainty in the world's largest economy.

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