Shares of MSTC continued their northward journey, rallying 18 per cent to Rs 181 on the BSE on Wednesday after the Chhattisgarh government appointed the company as its selling agent.

The stock of the state-owned e-commerce firm was trading at its highest level since listing on March 29, 2019. In the last 12 trading days, it has soared 91 per cent, as compared to a 3.3 per cent rise in the S&P BSE Sensex.

GAIL India posted a sluggish performance for the quarter ended September. Despite steady volume growth, operating performance was impacted by one-offs in the trading and gas transmission segments. This coupled with poor LPG & liquid hydrocarbon segment profitability resulted in a sub-par performance. Operating profits which were down 30.8 per cent sequentially slid by 47 per cent year-on-year.

The shut down at some fertiliser plants and delay in commissioning of few others led the company to sell some contracted volumes in the spot market impacting profitability in the gas marketing segment.

Vodafone Group Plc’s Indian venture may be headed for liquidation unless the government eases off on demands for mobile spectrum fees, the phone company’s chief executive officer said.

The Supreme Court ordered Vodafone Idea to pay $4 billion of fees linked to past frequency licences last month. With another airwave auction approaching, Vodafone Idea already has $14 billion in debt and UK-based Vodafone has pledged not to put any more money into the business.

Indian Oil Corporation, the country’s top refiner, is in talks with oil major Rosneft to explore possibility of importing Russian oil, its chairman Sanjiv Singh said on Tuesday.

We have taken very small quantities from Russia in the past which cant be considered significant so we are trying to explore if we can increase the Russian crude volume coming to India...We are in discussion with Rosneft and we are hopeful that something should work, Singh told reporters at an energy conference.

Facebook has launched a new payments system that will work across its app ecosystem -- Facebook, Messenger, Instagram and WhatsApp.

Appropriately named Facebook Pay, it will begin rolling out on Facebook and Messenger this week in the US for fundraisers, in-game purchases, event tickets, person-to-person payments on Messenger and purchases from select Pages and businesses on Facebook Marketplace.

The Bharti group, through two of its companies, on Tuesday made a conditional bid for the spectrum of Reliance Communications (RCom) even as Reliance Jio asked for an extension of the November 12 deadline to make an offer under insolvency proceedings.

The interim resolution professional (RP) had invited prospective companies to make a bid for the company as a going concern with assets and businesses like telecom towers, spectrum, a fibre network, real estate, and an enterprise business, in order to recover debts of more than Rs 33,000 crore of secured creditors.

The government on Monday gave sugar mills three months more till December to export the last year's balance quota of the sweetener.

Mills were able to export about 3.8 million tonne of sugar during the 2018-19 marketing year (October-September) due to depressed market conditions, against the target of 5 million tonne under the Minimum Indicative Export Quota (MIEQ) scheme.

Multiple online sales festivals, new launches and price corrections on a few key models by brands helped smartphone shipments in India grow 9.3 per cent in the July-September quarter to touch record 46.6 million units, research firm IDC said on Monday.

Sequentially, Smartphone shipments were higher by 26.5 per cent in the third quarter ended September 2019 compared to the previous quarter. IDC expects the smartphone market to see only mid-to-high single-digit year-on-year growth in 2019.

Over the weekend, India’s Supreme Court pronounced on a title dispute in Ayodhya, a small town in India’s northern state of Uttar Pradesh. Like many other property cases in India, this one had been working its way through the judicial system for decades. But it may be the most consequential such dispute in Indian history.

Millions of Hindus believe Ayodhya was the capital of Ram, an avatar of Vishnu and hero of the epic Ramayana, and the dispute was over rights to the site where Hindus say a 16th century mosque was built over Ram’s birthplace.

Domestic passenger vehicle sales witnessed a marginal increase of 0.28 per cent to 2,85,027 units in October from 2,84,223 units in the year-ago period.

Domestic car sales were down 6.34 per cent to 1,73,649 units as against 1,85,400 units in October 2018, according to data released by the Society of Indian Automobile Manufacturers (Siam).

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