Mahansaria Tyres Private Limited (MTPL) will set up a $107-million facility to manufacture off-highway tyres in Gujarat, backed by International Finance Corporation (IFC) through equity and loan.

IFC will provide a loan of up to $30 million and it will buy a stake in MTPL for up to $7.74 million.

The blockbuster growth in the world's major cities in recent years will slow sharply in 2020 and 2021 as the global trade slowdown takes its toll, according to new research.

Nine of the top 10 biggest global cities will slow next year, with the stars of the US Silicon Valley showing the most dramatic signs of slamming on the brakes, Oxford Economics researchers found in a report provided to AFP.

Shares of Mahindra & Mahindra (M&M) slipped 2 per cent to Rs 512 on the BSE on Friday and was trading close to its 52-week low level. The car & utility vehicles maker's stock is less than 2 per cent away from its 52-week low price of Rs 503, touched on August 14, in intra-day trade.

In past one month, M&M has underperformed the market by falling 12 per cent as the company's tractor sales delivered disappointing performance.

Vodafone Idea Ltd, India's third largest mobile service provider, will shut down if the government does not provide relief on the liability it faces in past statutory dues following a Supreme Court order, its billionaire chairman Kumar Mangalam Birla said on Friday. "If we we are not getting anything then I think it is end of story for Vodafone Idea," Birla said at the HT Leadership Summit when asked about the future of Vodafone Idea in absence of a government relief on payment of Rs 53,038 crore dues.

Shares of Eris Lifesciences hit a five-month high of Rs 473, up 7 per cent on the BSE on Friday, in an otherwise range-bound market. The stock of the pharmaceutical company was trading at its highest level since July 2019. In comparison, the S&P BSE Sensex was down 0.20 per cent at 40,699 points at 11:17 am.

On Tuesday, the company announced acquisition of the trademark Zomelis, for Vildagliptin-based formulations, and its associated trademarks from Novartis AG, Switzerland, for a consideration of $13 million (roughly Rs 93 crore).

Shares of YES Bank dipped 5.5 per cent to Rs 58.70 on the BSE on Friday after Moody's downgraded the bank's long-term foreign currency issuer rating to 'B2' from 'Ba3', as potentially stressed assets and low loss-absorbing buffers may add pressure to its funding and liquidity. The global rating agency assigned negative outlook on the bank's rating.

The private sector lender's stock was trading at its lowest level since October 31, 2019.

Tata Motors is in the process of setting up at least seven regional stockyards as it seeks to move to a leaner and efficient distribution system. This will ensure its vehicles reach dealers much faster and delivered to buyers in a maximum of three days.

The move is also aimed at reducing the financial burden on dealers as it takes care of inventory costs, said Mayank Pareek, president, passenger vehicles business, Tata Motors.

Fixed deposit holders of debt-troubled Dewan Housing Finance Corporation (DHFL) have been asked to submit their FD claims to the insolvency professional by December 17.

The holders need to submit their FD certificate or receipt number, identity proof, and a cancelled cheque to substantiate proof of claim.

Four men accused of raping and murdering a veterinarian outside Hyderabad last month were shot dead when they tried to escape Friday morning, said a senior police officer.

The four men were being taken to the crime scene for investigation when they tried to break free at around 3.30 am, reported TV news channel NDTV.

The Supreme Court on Thursday said its 2018 verdict allowing entry of girls and women of all ages into the Ayyappa temple at Kerala's Sabarimala was not the final word as the matter was referred to a larger bench.

The apex court's observation came when senior advocate Indira Jaising, appearing for a woman devotee, Bindu Ammini, alleged violation of the 2018 verdict and said her client was attacked for her bid to enter the shrine.

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