Domestic equity benchmark BSE Sensex rebounded over 200 points and the NSE Nifty reclaimed the 10,900 level in early trade on August 6 led by gains in banking and auto stocks.

The 30-share index was trading 214.96 points, or 0.59%, higher at 36,914.80 at 0930 hours. Similarly, the broader NSE Nifty was quoting 68.65 points, or 0.63%, up at 10,931.25.

The first quarter Ebitda at `8,400 crore and PAT at `3,600 crore were significantly higher than our/street estimates on higher-than-expected GRM and inventory gains (against inventory loss expectations) as some of the crudes in its slate had higher price by quarter end.

The management is confident of benefiting from IMO-regulation led rise in GRM (more so at Paradip refinery) and expects current marketing EBITDA levels to sustain in FY20.

Amazon.com Inc.’s determination to offer shoppers the best deals is prompting merchants selling products on its marketplace to raise their prices on competing websites, a testament to the company’s growing influence over the e-commerce market.

Amazon constantly scans rivals’ prices to see if they’re lower. When it discovers a product is cheaper on, say, Walmart.com, Amazon alerts the company selling the item and then makes the product harder to find and buy on its own marketplace — effectively penalizing the merchant.

With sales subdued and inventory with dealers piling up, two-wheeler makers like Bajaj Auto and TVS Motor have started facilitating zero-interest loans in select states to woo buyers. Meanwhile, Hero MotoCorp has dropped the interest on loans to 7% from the prevailing 10-12%. Manufacturers are offering these soft loans via their finance arms — TVS Credit, Hero FinCorp and Bajaj Auto Finance. The offer is currently available in some markets.

Rating agency Icra on Monday downgraded non-convertible debenture programme, long-term loans, long-term fund-based facilities and long-term non-fund-based facilities to (Icra) AA- (negative) from (Icra) AA (negative).

While short-term debt programme, commercial paper programme and short-term non-fund-based facilities have been reaffirmed at (Icra) A1+. Data from Bloomberg showed that, total debt of Tata Motors stood at `1.06 lakh crore as on March 2019.

State Bank of India (SBI) has sought expressions of interest (EoIs) for the sale of overseas oil and gas assets owned by Videocon Oil Ventures (VOVL) on behalf of a consortium of lenders, according to a public notice. This is the second time since October 2018 that banks have sought EoIs for these assets.

The overall slump in consumption has impacted cigarette sales of ITC Ltd. The diversified business conglomerate has reported around 3% volume growth in the April-June quarter, against 7-8% in the past three consecutive quarters. This growth slowed despite no hike in cigarette taxes for two years now.

Focus on data subscribers and weeding out low revenue customers have helped Bharti Airtel, while its peer Vodafone Idea could not implement the strategy.

However, network and content costs are on the rise for Bharti as it witnesses a steady rise in mobile data customers.

India's central bank is poised to deliver its fourth successive quarter-point interest rate cut on Wednesday, amid calls from investors and the government for further easing as a slowdown gripping the economy becomes more pervasive.

The Reserve Bank of India will lower the benchmark repurchase rate by 25 basis points to 5.5 per cent, according to almost all of the 36 economists surveyed by Bloomberg.

India’s space agency on Sunday released the first set of pictures of Earth captured by a camera aboard the Moon-bound Chandrayaan-2 spacecraft still in orbit around the planet awaiting its next orbit-raising manoeuvre.

The Indian Space Research Organisation (Isro) released at least three pictures showing Earth from different perspectives, calling them “the first set of beautiful pictures of the Earth” from Chandrayaan-2.

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