Indian Oil Corporation (IOC) shares slipped as much as 4.42 per cent to Rs 140.30 apiece on the BSE on Friday after the company reported 83 per cent year-on-year (YoY) decline in profit before tax (PBT) at Rs 814.48 crore for the quarter ending September, owing to higher inventory losses and a decline in refinery margin. It had recorded Rs 4,805.74 crore PBT during the same period last year.

India and Germany have resolved to intensify bilateral and multilateral cooperation to deal with the threats of terrorism and extremism, Prime Minister Narendra Modi said on Friday after holding wide-raging talks with German Chancellor Angela Merkel.

After the two leaders co-chaired the fifth Inter-Governmental Consultations, India and Germany signed five joint declarations of intent and inked 11 pacts in fields such as space, civil aviation, maritime technology, medicine and education.

The Goods and Services Tax (GST) collection in October declined to Rs 95,380 crore, as against Rs 1,00,710 crore in the same month a year ago, as per government data released on Friday.

This is the third consecutive month when GST mop-up remained below the Rs 1 trillion mark, despite October being a festive month.

TVS Motor has reported a 25 per cent drop in domestic two-wheeler sales during the month of October 2019, at 252,684 units as compared to 338,988 units a year ago. However, the company said October sales were two per cent higher than in September, which effectively reduces stock-in-trade for BS VI transition.

Total two-wheeler sales, including exports, were down by 20 per cent to 308,161 units in October 2019 from 384,307 units a year ago.

Ashok Leyland has reported a 50 per cent drop in domestic M&HCV sales during the month of October 2019 to 4,565 units as against 9,062 units, a year ago.

The biggest drop was in trucks, whose sales declined by 59 per cent to 3,335 units in October from 8,124 units in the same month a year ago. Bus sales in October, on the other hand, were up 31 per cent to 1,230 units, from 938 units the previous year.

Aviation regulator DGCA asked IndiGo on Friday to replace Pratt and Whitney (PW) engines of 23 A320neo planes by November 19 or else they would be grounded.

The regulator also asked IndiGo that all 97 such aircraft in its fleet must have modified PW engines by January 31 next year "at all costs".

Riding on one-off gains, drug major Dr Reddy's Laboratories Limited has reported a 33 per cent jump in profit before tax, at Rs 766.4 crore, while its post-tax profit more than doubled to Rs 1,092.5 crore for the quarter ended September 2019. Th epre- and post-tax profit figures in the corresponding quarter the previous year were Rs 578 crore and Rs 503.8 crore respectively.

US Secretary of State Mike Pompeo on Thursday presented the prestigious Award for Corporate Excellence to Pepsico India for its efforts to save more than 17 billions of litres of water through community water programs and positively impacting thousands of community members.

Established in 1999, the ACE recognizes US companies that promote and uphold high standards as responsible members of their communities where they do business.

TVS Motor Company and Bajaj Auto have settled a decade-old dispute related to patent rights for spark plugs.

The companies said they entered into a settlement agreement on Thursday to amicably settle the decade-old dispute related to alleged infringement of Bajaj's patent for digital twin spark plug ignition technology.

Automobile maker Mahindra and Mahindra Ltd has received a patent for its multimodal solar power system, which reduces the electric load demand on vehicle battery, and supports the operation of an air-conditioner. This innovation will help increase the life of vehicle batteries and reduce greenhouse gas emissions.

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