Benchmark Sensex erased early gains and plunged 216 points in late morning trade, while the Nifty tested the 10,000 level due to sudden selling pressure in realty, oil & gas, power, energy, banking, capital goods and FMCG counters amid lower Asian cues.

The BSE mid—cap and small—cap indices too were down 0.86 per cent and 0.95 per cent, respectively.

India's second largest carmaker Hyundai Motor India will soon be joining the race to bring in electric cars to India and the company is planning to undertake a feasibility study to bring in an small electric SUV into the Indian market sometime later next year. Hyundai India is also considering bringing in electric version of its Grand i10 and Elite i20 cars. In an interview to Times of India, Y K Koo, MD, Hyundai India commented that “Electric cars are a focus for us. We have to go by the government’s policy and norms,It’s better to implement electric cars on lower-segment products. For example, the Grand i10 and i20 and small cars are more convenient, more easy, and more practical for electric than bigger-sized vehicles when it comes to the Indian market."

Ford India will launch the updated EcoSport in the country during the festive season, the sub-compact SUV has been spotted several times revealing the exterior design as well as the interior features. Earlier, we reported that the upcoming Ford EcoSport will be powered by the same 1.5 litre petrol and 1.0 litre EcoBoost petrol engine along with the 1.5 litre diesel unit. The above-mentioned engines also power the current EcoSport models. It is now expected that the carmaker will also launch the 2017 EcoSport with a new petrol engine.

BENGALURU: Indian IT companies are doing their best to weather the changes in the sector and are actively working at retraining their employees to ensure that they make the transition, head of Nasscom IT services council Nitin Rakesh said.

Several articles have been written predicting the end of the Indian IT sector but changes in the space are nothing new, Rakesh, also Mphasis CEO, said. “We have gone from mainframes to client server, to internet and now to digital offerings. We have made these changes before. As always there is a period of transition. And I can tell you, each company is capable of making this pivot though they may pick different parts to focus on,” Rakesh said.

Insurance Regulatory and Development Authority of India (Irdai) on Monday said though Aadhar is not a mandatory requirement for Know Your Customer (KYC) in the insurance sector, it is the most simple form of KYC document.

"Aadhar is not mandatory for the (insurance) sector but is the most simple one. On the government level they are creating a platform for all the KYC.

Air India is looking for bridge loans worth up to $740 million to finance purchase of six Boeing 787-8 planes, according to a tender document.

While the government is working on final contours for a strategic disinvestment of its stake in loss-making Air India, the airline is ready with plans to fly to more overseas destinations.

State-owned power generation firm NTPC may soon be asked to relocate a biodiversity park at its Dadri thermal power plant, Uttar Pradesh, to meet the fly ash requirement of the highway sector.

The issue was flagged at a group of infrastructure meeting last week and Power and Coal Minister Piyush Goyal — who attended the meeting, along with Environment Minister Harsh Vardhan and railways and defence ministry officials — agreed to shift the eco-park to another location.

In a bid to bring back some of the lost zing, the markets regulator, the Securities and Exchange Board of India (Sebi), is looking to extend the trading hours for the derivatives market. Sources said Sebi was considering if trading in index futures could be kept open even after the cash market closed. The move will provide investors the tool to price in news flow that comes after market hours.

Currently, a lot of foreign investors use global platforms such as the Singapore Stock Exchange (SGX) and the Chicago Mercantile Exchange (CME) — which offer almost round-the-clock trading on some Indian contracts — for trading or hedging their underlying exposure to Indian stocks.

Goods and Services Tax (GST) Council, in its 20th meeting on August 5, authorised the Union government to move legislative amendments to increase ceiling of cess on motor vehicles to 25 per cent from present 15 per cent, the Finance Ministry informed on Monday. The official Twitter handle of the ministry also stated that GST Council will take the decision on when to raise the actual cess on motor vehicle in due course of time. “GST Council in its 20th Meeting held on 5th Aug, 2017 considered the issue that total tax incidence on motor vehicles after GST has come down. It recommended that Central Govt may move legislative amendments to increase max ceiling of cess on motor vehicles to 25% from present 15%,” the Finance ministry tweeted.

Over 100 women Congress workers on Monday staged a novel protest here by carrying a mock coffin of a gas cylinder to condemn the Centre's proposed move to withdraw subsidy for LPG.

The workers took out the mock funeral procession symbolising the death of gas cylinders, and placed them near the South Taluk office here.

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