Business

In a draft notification, the government proposed renewal of fitness certificates for vehicles older than 15 years every six months instead of the current time frame of one year.

PNB shares closed the trading session at Rs 68.15, up 3.2%, on BSE after hitting an intra-day high of Rs 69.65. The stock has corrected nearly 20% in the last one year.

The central bank was closely monitoring and scrutinising the top 50 NBFCs, and had a good understanding of what were the numbers and cash flows of these firms, the RBI Governor said.

Kotak said Maruti Suzuki’s revenue is expected to decline 14% year-on-year in the June quarter, though the fall may be offset by 4% increase in average sale price (ASP) due to an increase in costs owing to new safety regulations.

Bajaj Finance’s consolidated net profit rose by a whopping 43% year-on-year to Rs 1,195 crore during the June quarter compared with Rs 835.9 crore in the same quarter last year.

Bharti Infratel’s consolidated net profit grew by 39% year-on-year to Rs 887 crore for the June quarter on account of network expansion by mobile service providers.

Rajiv Ahuja previously served at Convergys as the senior vice president and country manager for India, China, Malaysia and Japan.

India's economy is set to grow at 7.0 per cent in 2019, picking up to 7.2 per cent in 2020. The downward revision of 0.3 percentage point for both years reflects a weaker-than expected outlook for domestic demand, the IMF said in its World Economic Update...

HDFC Bank stock was trading at Rs 2,315.05, down 2.55%, on BSE after hitting an intra-day low of Rs 2,307.50. The stock has risen over 10% in the last one year.

For the south Asian region, ADB said the outlook remains robust, with growth projected at 6.6 per cent in 2019 and 6.7 per cent in 2020.

As many as 11 coal-based power plants at Wanakbori, Uukai, Gandhinagar and Sikka were shut last week on falling demand, but now they are again back on stream to meet the increasing demand, according to an official.

A notice was issued to the state-owned bank advising it to show cause as to why penalty should not be imposed on it for non-compliance with the extant directions.

Huawei was added to a Commerce Department list in May that prohibits US companies from supplying it with new American-made goods and services unless they obtain licenses that will likely be denied.

The company said it was 'undergoing substantial financial stress' and its ability to raise funds was 'substantially impaired and the business has been brought to a standstill with there being minimal/virtually no disbursements'.

Godrej, however, congratulated Prime Minister Narendra Modi for presenting a 'grand vision' to build a new India and nearly double economy to a USD 5 trillion giant over the course of his second term in office.

Forex traders said the rupee is trading in a narrow range ahead of the release of retail inflation and factory output data. Besides, the weakening of the greenback vis-a-vis other currencies overseas supported the local unit.