South Korea’s Hyundai Motor said on Monday it had replaced the head of its China operations – an appointment that comes on the heels of a supply disruption and as it struggles to deal with the fallout from a diplomatic row between the two nations. Tao Hung Than, who is of Chinese descent, became CEO of Beijing Hyundai Motor on Friday, replacing Chang Won-shin, a company spokesperson said, without elaborating on the reason for the change. Chang held his job for less than a year. Hyundai was recently forced to halt production for about a week at its joint venture with China’s BAIC Motor Corp Ltd after a fuel-tank components supplier refused to provide parts due to non-payment.

Maruti Suzuki shares which have given stellar returns in the year so far, are still undervalued at these levels says research and brokerage firm CLSA. The shares were trading at Rs 7,838 on Monday morning, and have returned 47% in the year so far. CLSA has a buy rating on the stock with target price of Rs 9,230 per share.

The shares have seen a slight correction in the last one month, down by more than 0.5%. However, in the last three months the scrip has returned nearly 10%. The BSE Sensex is up by by more than 2% in the last three months. Notably, Maruti Suzuki shares have outperformed the index in one, three and five year periods.

Shares of the state-run coal mining company Coal India Ltd (CIL) advanced more than 2% on Monday after the PSU said that India is not facing any scarcity of coal and the output of Coal India is more than the country’s power demand. Coal India – largest producer of coal in the world had registered a high growth rate of 28% output in FY17 over the last fiscal, while the average rise in power demand in the country was at 10.3%, said Chairman and Managing Director Gopal Singh.

Key indices on Monday opened flat over escalating global tensions after a fresh nuclear test by North Korea on Sunday.

Asian markets were under pressure as North Korea’s latest nuclear disrupted markets and forced investors to run towards safe haven assets.

Flagging concerns over the proposed hike in GST on luxury cars, German auto-maker Mercedes Benz has said it was eager to increase its output and headcount from the country if the government extended a little bit of support on taxation.

"We do not understand suddenly why the need to actually review the cess all over again. We have so much to contribute. We have high ends jobs that we are able to create, willing to create..." Mercedes Benz India Managing Director and CEO Roland Folger told PTI here.

Infosys promoters, including iconic co-founders N R Narayana Murthy and Nandan Nilekani, have offered to sell as many as 1.77 crore shares -- worth up to Rs 2,038 crore -- in the company's Rs 13,000 crore buyback offer.

The promoters group -- which includes most of the founders and their families -- have expressed their intention to be part of the company's first buyback plan in its over three-decade history and have offered to tender a maximum of 1.77 crore shares.

Mumbai: Axis Bank on Friday said the Reserve Bank of India (RBI) has identified an additional list of defaulter companies that lenders must now focus on, potentially sending the firms to bankruptcy court should they fail to resolve the troubled loans by 13 December.

Axis did not disclose which companies were on the list, but said it had loans to 12 of the names provided to banks by the RBI earlier this week.

Share prices of Wipro rose by 2.54% on Thursday after the company said its shareholders have approved its Rs 11,000-crore buyback proposal. The stock hit a 16-month high and was the biggest gainer amongst Sensex stocks. The company has set September 15, 2017, as the record date to decide eligible shareholders. The stock ended 2.54% higher at Rs 299.05 on BSE. During the day, it went up by 2.86 per cent to Rs 300 – its 52-week high. On NSE, shares of the company gained 2.71% to close at Rs 299.10. The stock was the biggest gainer among the bluechips on both the key indices. The company’s market valuation also went up by Rs 3,616.23 crore to Rs 1,45,537.23 crore.

The shares of Ashok Leyland rallied more than 5.5% and closed at Rs 113 on the back of healthy sales numbers posted by the company for the month of August. The shares touched Rs 113.25 in the intraday trade; marginally short of the 52-week high at Rs 114.35 which the company had earlier touched on the 8th of August on NSE.

Yesterday, the company reported a 25 per cent growth in total sales during August at 13,634 units, as against 10,897 units a year ago. The numbers include both medium and heavy commercial vehicles (M&HCVs) and light commercial vehicles (LCVs).

The Advisory Committee on Mutual Funds appointed by the Securities and Exchange Board of India (Sebi), which is scheduled to meet on Friday, is planning to list a slew of recommendations before the regulator. Senior officials in the mutual fund industry say that the committee might recommend measures such as the merger of schemes, adoption of total return index (TRI) and an increasing amount of investor awareness campaign for Association of Mutual Funds in India (Amfi).

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.