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Sunday, Jan 26, 2020 | Last Update : 02:49 PM IST

Business

Bajaj Auto, Triumph start manufacturing new mid-capacity motorcycles in India

HDFC Bank board had tapped the global head-hunting firm in a bid to end a boardroom impasse over Puri’s successor and zero in on a candidate.

HDFC Bank taps Egon Zehnder to identify Aditya Puri's successor

The SUV-shaped S-Presso featured amongst India's top 10 bestselling cars within a month of its launch.

Maruti Suzuki begins export of S-Presso

The bank has however made all arrangements to ensure normal functioning in its branches and offices.

Operations may be impacted due to bank unions' two-day strike: SBI

Earlier this month, Infosys had said its audit committee had found no evidence of financial impropriety or executive misconduct.

Not received any Sebi request for further audit in whistleblower case: Infosys

On January 10, the top court stayed the NCLAT verdict restoring Mistry as executive chairman of the Tata group.

Tata-Mistry case: SC stays NCLAT order rejecting RoC please seeking modification

IMF this month cut India’s growth forecast to 4.8 per cent for the ongoing fiscal year - its lowest level in 11 years.

Govt likely to fund some USD 28 bn of expenditure via off-budget borrowings: sources

US Trade Representative would have 60 days to approve, disapprove or take no action on that determination.

US regulator to review recommendation on Fiat Chrysler's complaint against Mahindra

The broader NSE was trading 17.85 points, or 0.15 per cent, down at 12,162.50.

Sensex drops over 70 points in early trade; Nifty below 12,200

The rupee opened weak at 71.34, but it recovered some lost ground to touch 71.30 against the US dollar.

Rupee falls 5 paise against US dollar in opening trade

DLF has so far developed 153 real estate projects comprising 331 million sq ft. It has a land bank of 192 million sq ft.

DLF to invest Rs 5,000 cr in new commercial proj in Chennai

The government was forecast to set a fiscal deficit target of 3.6 per cent of GDP for 2020-21, up from 3.3 per cent targeted for the current year, the poll found.

RBI to hold rates on inflation concerns, fiscal boost likely: report

The poll was conducted before Malaysia’s central bank on Wednesday surprised markets by cutting interest rates by 25 basis points to 2.75 per cent.

Investors bullish on Asian currencies as trade worries fade: report

However, like most financial instruments, add-on credit cards comes with its share of pros and cons.

Want to apply for add on cards? Here are the pros and cons

ONGC had clubbed the 64 fields into 17 onshore contract areas that have a cumulative 300 million tonne of oil and oil equivalent natural gas reserves.

ONGC gets 28 bids for 50 oil, gas fields in 1st bid round

Forex reserves rise by USD 58 mn to record high of USD 461.21 bn

FCA decreased by USD 367 million to USD 427.582 billion, the RBI data released on Friday showed.

India is the largest importer of gold, which mainly caters to the demand of the jewellery industry. (Photo: Representational)

Gold imports dip 9 per cent during Apr-Oct

Dip in gold imports has helped in narrowing the country's trade deficit to USD 94.72 billion during Apr-Oct 2019-20.

The RBI largely earns profits through its trading of currencies and government bonds. (Photo: AFP)

Indian government to seek RBI dividend boost as revenue drops

Reserve Bank of India approved a 1.76 trillion rupees (USD 24.8 billion) dividend payment to the federal government

Given current sentiments, 2020 may not register high growth but weather is expected to play a key level for growth. A hot elongated summer may drive growth for cooling products in the first half, said CEAMA President Kamal Nandi.

Consumer durables report steady growth in 2019; slowdown a threat in 2020

The consumer durables sector, estimated to be around Rs 76,400 crore in FY'19, logged a growth rate of about 10 per cent.

In the meeting, the GST target was set at Rs 1.10 lakh crore every month between December 2019 and March 2020. Of these four months, Rs 1.25 lakh collections has to be achieved in at least one month, the sources said.

Govt sets Rs 1.1 lakh cr monthly GST collection target; asks taxmen to buckle up

Taxmen were told that both the GST and Rs 13.35 lakh crore target for direct taxes for 2019-20 will have to be achieved.

Market

The broader Nifty advanced 39.60 points to hit its all-time (intra-day) high of 12,261.25.

Sensex, Nifty hit fresh record peaks

Equity benchmark BSE Sensex jumped 140 points to hit its lifetime high of 41,698.43.

The broader NSE was trading 46.70 points, or 0.38 per cent, up at 12,216.55.

Sensex jumps over 200 points; Nifty reclaims 12,200

The 30-share BSE index was trading 204.30 points or 0.49 per cent higher at 41,528.11.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 97.34.

Rupee falls 14 paise, slips below 71 per US dollar

Traders said weak opening in domestic equities and foreign fund outflows weighed on the rupee.

The broader NSE was trading 18.90 points, or 0.15 per cent, lower at 12,205.65.

Sensex drops over 200 points; Nifty tests 12,200

After hitting an intra-day low of 41,301.63, the 30-share BSE index pared losses to trade 86.90 points or 0.21 per cent lower at 41,442.01.

Companies

Tesla shares were last up 1.4 per cent at USD 555 after the bell, building on a 7.2 per cent gain.

Tesla crosses USD 100 billion stock market valuation in extended trading

Tesla’s market value also puts Musk a step closer to earning the first USD 346 million tranche of options in a record-breaking pay package.

Axis Bank has initiated insolvency process against its subsidiary Vidarbha Industries Power Ltd for a claim of Rs 553.28 crore.

Axis Bank files insolvency plea against RPower arm

The company is engaged with all its lenders to arrive at a suitable resolution outside CIRP.

Driving consolidation in the food delivery space, Zomato has acquired UberEats in an all-stock deal valued Rs 2,485 crore.

Zomato gobbles up UberEats

With this deal, Zomato claimed to have become No. 1 in the food delivery space, which is projected to reach $15 billion by 2023.

The NCLAT dismissed it by saying that the NCLT has already dealt with the issue.

NCLAT dismisses IT dept plea against Reliance Jio on demerger of tower

The IT department has contended that by scheme of arrangement, the transferor company Reliance Jio Infocomm.

The meeting is expected to discuss the Preliminary Information Memorandum (PIM) on the Air India sale process, the source said.

Shah-led GoM's second meeting on Air India disinvestment likely today

The expression of interest could be invited 45 days after the uploading of the PIM document.

Autos

All vehicle segments reported de-growth last year as low consumer sentiments, weak rural demand and economic slowdown took a toll on demand in world’s fourth largest auto market.

2019 saw worst decline in auto sales

Undoubtedly, this is the worst fall in sales since the industry body started recording monthly and yearly sales data in 1997.

Jaguar Land Rover, Tata Motors-owned British luxury car maker, on Wednesday introduced new Jaguar XE sedan to take on marker leader Mercedes-Benz, BMW, Audi, Volvo and Lexus in Asia’s third biggest economy.

JLR drives in XE sedan at Rs 44.98 lakh

Next year, Jaguar is will also launch the all-electric I-Pace SUV in India.

Passenger vehicle sales in Asia's third biggest car market resumed their declining trend in November after a blip in the preceding month, indicating automakers are yet to recover from the worst auto slowdown in India in more than a decade.

Vehicles back in slow gear; total sales down 12 per cent in November

Commercial vehicle sales, the barometer of economic activity in the country, fell 15 per cent over last year to 61,907 units.

The model comes with various features including air quality sensor, connected navigation system among others.

JLR drives in new XE in India priced at Rs 44.98 lakh

The company is confident that Jaguar fans and discerning customers will be delighted with the latest offering.

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Scheme has provided an average of 41.44 days of employment per household.

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