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).

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).

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