TVS Motor Company is trading higher by 3% at Rs 200 on National Stock Exchange after reporting a robust 46% year-on-year (yoy) growth in total sales in the month of August 2014 to 227,482 units. The company had sold 155,532 units in the same month last year.

Total two wheeler sales increased by 47% from 148,469 units recorded in August 2013 to 217,662 units in August 2014, TVS Motor said in a statement.

The Securities and Exchange Board of India (Sebi)’s move to safeguard small investors in initial public offerings (IPOs) of non-profitable companies is proving a hurdle to greater retail participation. For public issues of companies that didn’t have a three-year ‘profitability’ track record, a change in norms by Sebi in 2012 had lowered the retail investor quota from 35 per cent to 10 per cent of the issue size.

State Bank of India (SBI) on Monday signed a loan agreement with the Japan Bank of International Cooperation (JBIC) to set up an export credit line in two currencies worth $152 million. The total amount in the export credit line consists of 13.5 billion yen and $21 million, a release said, adding the loan is co-financed with the Bank of Tokyo-Mitsubishi (BTMU).

The Rs 30,000 life insurance cover under the Pradhan Mantri Jan Dhan Yojana has some modalities to be worked out on the premium payment and claims payment. Life Insurance Corporation of India (LIC), which will offer the cover to all individuals who open bank accounts under the financial inclusion scheme by January 26, 2015, had a meeting with finance ministry officials to get clarity on the collection of premiums and administration of the scheme.

Consumer activism entered a new phase in working out claims and compensations. The latest example is of the Belaire project in Gurgaon, over which DLF, the country's largest real estate company, was recently told by the Supreme Court to pay Rs 630 crore for abusing its dominant market position.

Apartment owners at Belaire, in the process of selling their units are adding a clause in the sale deeds that if compensation is granted, they - not the buyers - will have the right to claim it.

The Department of Telecom (DoT) is working on a mechanism to provide wi-fi hot spots in cities with population of over 10 lakh and in tourist centres.

The DoT has held meetings recently with telecom operators for the scheme. It has not been decided if the service will be free or chargeable, sources said.

Markets continue to trade near their day's highs in late morning deals with capital goods and bank shares leading the gains on better-than-expected GDP growth in the first quarter ended June 30, 2014.

At 11:50AM, the 30-share Sensex was up 168 points at 26,808 and the 50-share Nifty was up 56 points at 8,010.

CHANDIGARH: After slashing petrol prices by up to Rs 2.50 a litre, the government is working hard to deliver on its Lok Sabha poll promises and its eyes are now on diesel price reduction, home minister Rajnath Singh said on Sunday.

"We are working hard to deliver on our promises. We stopped rise of prices and we slashed price of petrol by up to Rs 2.50. Our eyes are now on diesel," he said.

CHENNAI: The commercial vehicle industry, battered by its worst slowdown in a decade in the last two years, is beginning to turn around and should end the current financial year either flat or on a positive note.

That's a huge improvement from the 20%-plus negative growth clocked last financial year. According to top industry sources, the top-end tractor trailer segment has already hit pre-slowdown, 2011-level growth once again totting up 52% growth in the first seven months of this calendar.

NEW DELHI: The Securities & Exchange Board of India has decided against giving any immediate relief to the government to boost share sales through follow-on public offers (FPOs), even as it has provided some flexibility in offer-for-sale (OFS) on stock exchanges to boost retail investor participation in the disinvestment programme.

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