Commercial vehicle major Ashok Leyland (ALL) on Friday said it is in the process of setting up two to three assembling units for buses and trucks in African countries.

The company, which is of the view that having local manufacturing or assembling footprint across the countries makes for a major impact, will also be looking at South America and South East Asian countries to set up assembling units in near future.

The country’s largest utility vehicle manufacturer, Mahindra and Mahindra on Friday missed estimates by registering a decline of 14.04% (Y-o-Y) in its net profit (standalone) during the October-December quarter at Rs 807.39 crore on the back of less than expected growth in the tractor volumes.

During the same quarter last year, the company made an exceptional gain by selling shares worth R300 crore of Mahindra Engineering Services (MESL).

Domestic equity markets posted their biggest weekly fall this week since July 2009 as disappointing corporate earnings, sliding rupee and weak global markets continued to dampen sentiments. Sensex tanked 1,630.85 points, or 6.62 per cent, to 22,986.12 on Feb 12, 2016 from 24,616.97 on Feb 5, 2016. Similarly, NSE Nifty slid 508.15 points, or 6.79 per cent, to 6,980.95 during the week under review.

NEW DELHI: The fast-growing ecommerce sector is rubbing off on the commercial vehicle segment, helping boost sales when bulk purchases have yet to come from traditional customers in the infrastructure industry.

Senior executives at leading commercial vehicle manufacturers acknowledge the contribution of ecommerce-related logistics in the industry's recent strong performance, and they expect it to increase.

NEW DELHI: Oil and Natural Gas Corporation (ONGC) has told the Justice AP Shah committee that Reliance Industries Ltd (RIL) and regulator Directorate General of Hydrocarbons (DGH) knew gas from the stateowned company's blocks in the Krishna-Godavari basin was flowing into RIL's holdings in the area.

It sought an explanation from the regulator for this along with compensation from the company for the lost gas.

MUMBAI: Public sector lender Bank of Baroda on Saturday announced a net loss of Rs 3,342 crore fo the December quarter against a Rs 332 crore profit last year on account of an almost 5 times increase in provisions.

The provisions against bad loans or loans where repayment has not happened on time have jumped to Rs 6,164 crore against Rs 1,262 last year.

Healthcare major Apollo Hospitals Enterprise today reported 14.96% rise in standalone net profit to Rs 109.23 crore for the December quarter.

The company had posted a net profit of Rs 95.01 crore for the corresponding period of the previous fiscal, Apollo Hospitals Enterprise said in a BSE filing.

Expressing its keenness to appear fair to all, the Supreme Court on Friday refused to quash criminal proceedings against Congress president Sonia Gandhi, vice-president Rahul Gandhi and other Congress brass in the National Herald case, but expunged remarks made by the Delhi High Court pinning criminal intent on them even before the trial has started.

A bench of Justices J.S. Khehar and C. Nagappan also granted the accused Gandhis and Congress leaders exemption from personal appearance in the Magistrate court for future hearings.

With the Centre having taken a firm stand over the protests at Jawaharlal Nehru University (JNU) against the hanging of Parliament attack convict Afzal Guru, Union Human Resource and Development (HRD) Minister Smriti Irani on Wednesday said that an insult to India in any form would not be tolerated by the country.

"Today is the say you worship Saraswati and the goddess blesses everyone so that the voices from their throats are directed towards the upliftment and strengthening of the nation. These voices are meant for praising India, but the nation won't tolerate any insults to Mother India," Irani told the media.

Shares of GMR Infrastructure were up over 1%, in an otherwise weak market, after net loss for the December 2015 quarter reduced to Rs 379 crore compared with Rs 638 crore in the same quarter last year because of higher operating margins from power projects.

Consolidated total income increased 29% to Rs 3,564 crore during December 2015 quarter from Rs 2,761 crore in the quarter ended December 2014.

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