Indian stocks just suffered their worst July in 17 years, and if history is to be believed, there is little hope that August will be much better.

The S&P BSE Sensex dropped 4.9% in the month that ended Wednesday, hurt by disappointment with the country’s new budget, muted corporate earnings and the ongoing credit crunch. The benchmark index has performed better in August than July in only five years since 2002, data compiled by Bloomberg show.

Unenthusiastic market sentiments have lead to the country's leading automobile manufacturer, Maruti Suzuki, observe a substantial decline in its sales for the month of July 2019. The Indo-Japanese automaker sold a total of 1,09,264 units during last month. In comparison, during the same month last year, the sales for the carmaker stood at 1,64,369 units.

Continuing with its fund raising exercise, Paytm Mall has raised about Rs 1,101 crore ($160 million) by selling a 5.59% stake to US-based e-commerce firm eBay, according to a regulatory filing by Paytm E-commerce Private Ltd.

With this round, the Indian e-commerce giant has now raised about $805 million in three rounds.

HDFC, India's largest non-bank home financier, has reduced its lending rates by 0.10% across tenures for both existing and new borrowers with effect from August 1.

Keki Mistry, vice chairman and chief executive officer, HDFC Ltd told DNA, "Liquidity in the system has improved which is giving room to bring down the lending rates."

State-owned Indian Oil Corp (IOC) on Wednesday reported a 47% drop in its first quarter net profit due to a slump in refinery margins.

The company reported a consolidated net profit of Rs 3,737.50 crore during the quarter ending June 2019, as compared to a net profit of Rs 7,092.42 crore during the corresponding period last year, the company said in a regulatory filing.

Commercial vehicle major Ashok Leyland posted a 44% dip in consolidated profit at Rs 247 crore in the first quarter of current fiscal. The company had posted a profit of Rs 443.32 crore in the April-June quarter a year ago.

The company's consolidated revenue from operations declined 8% during the quarter under review to Rs 6,612.42 crore from Rs 7,193.79 crore in the corresponding quarter of 2018-19.

Amazon.com Inc is in exploratory talks with Reliance Industries Ltd-owned Reliance Retail for buying up to 26% stake in India's biggest brick-and-mortar retailer, the Economic Times (ET) reported on Thursday.

Talks began after Reliance's negotiations with China's Alibaba Group to sell a stake in the retail entity fell through due to differences over valuation, the financial daily reported citing two senior industry executives.

The only major Asian economy that’s grown its export share since the start of the tariff wars in 2018 is the one with the fewest trade links to China.

India’s share of world exports rose to 1.71 per cent in the first quarter of 2019 from 1.58 per cent in the fourth quarter of 2017, data compiled by Bloomberg show. The share of every other economy among Asia’s 10 biggest exporting nations fell in the same period.

The government seems to have softened its stance on the time frame for transition to electric vehicles (EVs).

The Ministry of Heavy Industries, the Ministry of Road Transport and Highways, the power ministry, and the NITI Aayog — tasked with the policymaking and implementation of the government’s e-mobility plan — have extended an olive branch to the beleaguered automobile industry by agreeing to a “softer, pragmatic, phase-wise approach”.

Facebook doesn’t have to face a lawsuit by victims of Hamas attacks and their relatives who claimed that the social network unlawfully assisted the terror group, a federal appeals court ruled.

In a 66-page ruling issued Wednesday, a divided court upheld a judge’s decision to throw out the case, saying an interactive computer service is not the publisher of third-party information when it uses tools that are designed to match content with consumer interests.

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