India News

YES Bank hits over 4-month low; stock falls 5%

Shares of YES Bank hit an over four-month low of Rs 322 per share, down 5% on the BSE on the back of heavy volumes.

The stock was the largest loser among the S&P BSE Sensex and Nifty 50 index at 02:17 pm. In comparison, the benchmark indices were up 0.2% each.

Congress calls for Bharat Bandh against fuel price hike on Sept 10

The Congress has given a call for nationwide shutdown on September 10 to protest against rising fuel prices. It has also asked other Opposition parties and civil society groups to join them.

"The common man was bearing the brunt of the escalating prices of petrol, diesel and cooking gas.

Sensex, Nifty retract in early trade in line with Asian markets

Mumbai: The BSE benchmark Sensex drifted lower by nearly 166 points and the NSE Nifty slipped below the 11,500-level in the opening session on Friday due to intense selling mainly in banking, power and healthcare shares amid weak Asian cues.

The BSE 30-share barometer dropped by 165.72 points, or 0.43 per cent, to 38,077.09 in opening trade as index major Sun Pharma, Yes Bank, SBI, ICICI Bank, NTPC, ONGC and Maruti Suzuki declined.

ONGC sniffs Bengal gas

New Delhi: ONGC Ltd has struck gas in a well at Ashoknagar in Bengal's North 24 Parganas district. The PSU has also found gas in the Vindhyan basin in Madhya Pradesh.

Both the discoveries will now be assessed for their commercial viability, ONGC director (exploration) Ajay Kumar Dwivedi said on Thursday.

Air India may be board-managed if new turnaround plan is cleared

Mumbai: Air India will soon be managed by a board, if a turnaround plan being charted out by the government that involves financial and organization reform is approved, a senior Air India official aware of the development said on condition of anonymity.

“The plan is to make Air India stand on its own feet so that it can be sold in future,” said the official cited above.

Hyundai bets big on new family hatchback

Hyundai Motor India (HMIL) expects passenger vehicles (PV) sales to pick up from next month with the launch of its new family hatchback, a senior company official said on Thursday on the sidelines of the annual SIAM conference.

“The Onam festival season was a dampener for PV makers due to floods in Kerala. The industry lost out on sales of nearly 32,000 vehicles. September sales are likely to remain low as well due to new insurance regulations and shradh period.

Maruti Suzuki’s electric car testing to start next month: Here’s when you can drive the first electric Maruti

In the presence of Prime Minister Narendra Modi at the MOVE Global Mobility Summit, Suzuki Chairman O Suzuki confirmed that Maruti Suzuki will commence the testing of its electric cars starting next month. Earlier, RC Bhargava, Chairman, Maruti Suzuki had confirmed that Maruti Suzuki will launch its first electric car in India in 2020.