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Ford’s India operations close to posting profit this fiscal
Posted on 10th August 2018
MUMBAI: Ford Motor’s India is close to posting a net profit, driven by strong gains in domestic sales and booming exports that helped the automaker’s local unit post a 20% expansion in turnover for the third consecutive year.

In fiscal 2018, Ford India’s domestic operations crossed a billion dollars in turnover for the first time. Exports accounted 2.4 times local sales, taking the total turnover to $3.4 billion.

Maruti Suzuki building website to challenge CarWale, CarDekho
Posted on 10th August 2018
New Delhi: Maruti Suzuki India Ltd is building a website where car buyers can compare prices, in a direct challenge to platforms such as CarWale and CarDekho, which provide similar services. The country’s largest carmaker expects such a platform to help generate sales leads, one person aware of the plans said, as online queries generate data and user information that can be shared with its own dealers.

Sensex retreats from record high, down 106 points
Posted on 10th August 2018
Retreating from its lifetime high, the BSE Sensex dropped 106 points in opening trade on Friday on profit-booking in recent gainers amid a weak trend at other Asian markets.

The 30-share barometer fell by 106.02 points or 0.27 per cent to 37,918.35, with banking, PSU, metal, realty and FMCG stocks falling up to 0.30 per cent.

Rajasthan suspends Net services over 140 times in a year: COAI to DoT
Posted on 10th August 2018
Telecom operators body Cellular Operators Association of India on Thursday urged telecom secretary Aruna Sundararajan to address the issue of frequent suspension of internet services by state governments, especially Rajasthan, which has suspended such services for more than 140 times in the last one year.

ONGC is HPCL promoter, no confusion about it, says Dharmendra Pradhan
Posted on 10th August 2018
Petroleum minister Dharmendra Pradhan on Thursday said national oil explorer ONGC is the promoter of oil marketing company HPCL and “there should be no confusion about it”. FE had earlier reported that though HPCL was taken over by ONGC in January this year, the former is yet to recognise the upstream major as its promoter in the mandatory quarterly filings with the stock exchanges.

ICICI Bank shares rise on optimism over bad loan cycle ending soon
Posted on 10th August 2018
Hitting a six-month high, the ICICI Bank stock gained 4.64% and ended the session at Rs 332.95 on Thursday on the back of optimism that the bad loan cycle may be nearing an end. ICICI Bank’s stock has risen 28.40% from its July low. In a note to investors, Credit Suisse said ICICI Bank has been reflecting low new NPL formation over the past few quarters.

Air India cancels flight to accommodate Haj pilgrims
Posted on 10th August 2018
Even as Congress MP Shashi Tharoor took to Twitter on Thursday criticising Air India for cancelling its scheduled flight from Thiruvananthapuram to Bengaluru from August 23 to 27, which is during the Onam festival week, thus inconveniencing passengers who had booked months in advance, the national carrier said that the cancellation has been done to utilise the aircraft for Haj pilgrims.

Concor ropes in TCS to strengthen mobile app for reverse auction
Posted on 10th August 2018
In a bid to improve the quality of services offered by vendors for containerized movement of cargo at the first and last mile, state-run Container Corporation of India (Concor) has roped in Tata Consultancy Services (TCS) to strengthen its mobile app to facilitate continuous reverse auction for the first time among vendors.

SBI to sell 4% of its existing shareholding in SBI General Insurance
Posted on 10th August 2018
The State Bank of India (SBI) has informed the stock exchanges that its board is looking to sell 4 per cent of its existing shareholding in SBI General Insurance to a non-promoter entity through small parcel share sale (SPSS). SBI General, formed in 2010, is a joint venture between SBI and the Insurance Australia Group.

Sebi should seek power to tap phone calls: Panel on fair market conduct
Posted on 10th August 2018
A committee on fair market conduct has suggested that market regulator, Securities and Exchange Board of India (Sebi), should seek powers to tap telephones and other electronic communication devices to check insider trading and other frauds.

Currently, Sebi has the power to only ask for call records, which includes numbers called and the duration of calls made.

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