Union Minister of Heavy Industries and Public Enterprises and Shiv Sena MP Arvind Sawant today resigned from his ministerial post, amid the political developments in Maharashtra. Sawant was sworn in after the 2019 Lok Sabha elections, the lone Union Minister from Shiv Sena.

At 8:00 AM, news agency ANI posted an update, quoting Sawant, who said, I am resigning from my ministerial post, thereby confirming the earlier reports of him possibly resigning and the Sena quitting ties with the NDA alliance at the centre.

Shares of HDFC Asset Management Company (AMC) were trading higher for the third straight day, up 5 per cent in an otherwise subdued market, at Rs 3,345 on the BSE on Monday. The stock was trading at its highest level since its listing on August 6, 2018, and has zoomed 204.09 per cent from its initial public offer (IPO) price of Rs 1,100 per share.

In the past three days, the stock has rallied 14 per cent after MSCI Global Standard Index decided to include the stock in the MSCI India index, with effect from November 26, 2019.

India's Yes Bank Ltd., the world’s worst-performing lender in 2019, has posted the globe’s biggest gain over the past month.

Its shares have rallied about 50 per cent -- the biggest gain among global peers valued at more than $1 billion -- after embattled founder Rana Kapoor was forced to sell his holdings in October and a new management team promised fresh capital and lower bad loans.

The Shiv Sena is all set to stake claim to form government in Maharashtra with support from the NCP. Governor Bhagat Singh Koshyari on Sunday invited Shiv Sena, the second largest party in the assembly, to form the government after the BJP expressed its inability as it does not have the required number to reach the majority mark of 145.

"Governor Bhagat Singh Koshyari today asked the leader of elected members of the second largest party, the Shiv Sena, Eknath Shinde (party's legislative leader) to indicate the willingness and ability of his party to form the government in Maharashtra," the office of the governor said.

Shares of Ashok Leyland slipped up to 7.2 per cent to Rs 71 in the morning deals on the NSE on Monday, after the company reported weak September quarter earnings. The commercial vehicle major logged a 97 per cent drop in standalone profit before tax at Rs 19.11 crore during Q2FY20, as compared to Rs 670.8 crore during same quarter last year.

At 9:43 AM, the stock was trading 3.2 per cent lower at Rs 74.05. In comparison, the benchmark Nifty50 was 0.19 per cent down at 11,885-mark. Nearly 2.05 shares changed hands on the NSE and BSE till the time of writing of this report.

India’s largest drugmaker, Sun Pharmaceutical Industries, is expanding in the Japanese market when most of its peers have indicated they are not bullish on it.

Mumbai-based Lupin is Japan’s sixth-largest drug generics player but it recently said the annual price cuts imposed there had made the market unattractive. It would continue to grow there but only in single digit (in value terms).

The Left parties said on Saturday that the Supreme Court's Ayodhya verdict should not be seen as a victory for any litigant and no one should indulge in any provocative acts in the wake of the order.

In a statement, the Communist Party of India (Marxist) said while the judgment had provided a judicial resolution to this fractious issue, there are certain premises of the judgment which are questionable.

The Telecom Regulatory Authority of India (Trai) on Friday decided to address the issue of interconnection usage charges (IUC) and said it would review the matter through discussions.

Trai, in its consultation paper, said it would review the regulatory regime for international call termination charges that were lowered to 30 paise per minute last year.

Facebook apologised on Friday after black employees anonymously shared feelings of workplace bias in an online post.

The post shared at Medium by a "FB Blind" profile laid out perceived slights by managers, white colleagues, and the human resources department.

An Ahmedabad-based company’s assets worth over Rs 56 crore have been attached in connection with a bank fraud and money laundering case, the Enforcement Directorate (ED) said on Saturday. The agency issued a provisional order for attachment of 37 immovable properties of Sai Infosystems I (SIS) Ltd and others under the Prevention of Money Laundering Act (PMLA). “The attached assets include plots and a farm house, various commercial and residential properties in Gujarat and adjoining areas owned by SIS, Atrium Infocomm Pvt Ltd and Sujyot Infrastructure Pvt Ltd (group companies of SIS) and others,” the ED said in a statement.

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