Mumbai: The Hinduja Group flagship, Chennai-based Ashok Leyland, plans to redesign its light commercial vehicles (LCVs) to serve the fast-growing Indian e-commerce industry’s last-mile delivery needs, according to a senior company executive.

LCVs are defined by industry body Society of Indian Automobile Manufacturers (Siam) as vehicles having a maximum mass under 7.5 tonnes.

New Delhi: The Board of Control for Cricket in India (BCCI) should be brought under the ambit of the Right to Information (RTI) Act and held accountable to the public, the Law Commission has recommended to the government.

The commission has asked the government to treat BCCI as an agency of the state under Article 12 of the Indian Constitution.

New Delhi: The income tax (I-T) department has cautioned salaried taxpayers against under-reporting their income or inflating their deductions in assessment year 2018-19.

It has also warned intermediaries like chartered accountants against abetting such tax evasion. Any infractions will invite action under various penal and prosecution provisions of the Income Tax Act.

The BSE benchmark Sensex rose over 100 points in early trade today tracking strong Asian cues supported by a rally in oil prices and easing global trade concerns.

The 30-share index was trading higher by 147.14 points, or 0.42 %, to 34,478.82 with metal, realty, FMGC, Teck, IT and capital goods stocks rising up to 1.81 %.

After losing market share in the utility vehicle (UV) segment to competition in FY18, Mahindra & Mahindra (M&M) seems to be in fight-back mode. On Wednesday, it launched the new XUV 5OO at a much more affordable price point, perhaps with an eye on the volumes that are being garnered in the sports utility vehicle (SUV) segment by later entrants like Maruti and Hyundai whose models were priced cheaper. In fact, Maruti in FY18 has emerged as the new leader in SUVs in India.

The early part of calendar 2018 saw 15 scheduled commercial banks – including the country’s three largest banks and 10 from south India – scale back their network of point-of-sale (PoS) terminals. According to data released by the Reserve Bank of India (RBI), the size of the POS networks of the 15 banks shrunk between 0.4% to 33% in the December 2017 to February 2018 period.

The TVS Apache RR 310 has outsold its closest rival KTM RC 390 in the month of March 2018. In fact, the bike has beaten the combined sales of KTM RC 390 and 390 Duke during the said period. According to the sales data issued by the Society of Indian Automobile Manufacturers (SIAM), the TVS Apache RR 310 found 983 new homes in the month of March 2018. On the other hand, 716 units of the KTM RC 390 and 390 Duke were sold combined during the same month.

Thanks to decontrol of auto fuel prices and the reduced threat of a return of rigorous regulations, Reliance Industries and Essar Oil (Rosneft) have fast-tracked the process of strengthening their fuel retail network. These private-sector companies, which currently have a little over 5,550 retail fuel outlets —less than 10% of the total — will together add another 2,500 over the next couple of years.

Shares of oil marketing companies (OMCs) were trading lower in the range of 2% to 4% on the BSE in early morning trade on Thursday after global crude oil prices hit 3-year high on Wednesday.

Hindustan Petroleum Corporation or HPCL (down 4% at Rs 308), Bharat Petroleum Corporation or BPCL (down 3.7% at Rs 390) and Mangalore Refinery & Petrochemicals or MRPL (down 3% at Rs 104) have hit their respective 52-week lows on the BSE in intra-day trade today.

The rupee today slipped by 2 paise to settle at a fresh seven-month low of 65.66 against the US currency due to sustained dollar demand and forex outflows, extending its fall for a third day amid surging crude prices.

The rupee had fallen to a low of 65.79 in early trade but the RBI's suspected intervention helped the currency recover to a day's high of 65.59.

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