NEW DELHI: State-owned LIC has sold over 1.92 crore shares, representing about 2 per cent stake of Asian Paints, through open market transaction.

With the sale of these shares, stake of LIC (Life Insurance Corporation of India) in Asian Paints has now come down to 3% from 5% earlier, as per a regulatory filing by the insurer.

NEW DELHI: The government will come out with a national e-commerce policy within 12 months to facilitate achieving holistic growth of the sector, an official said.

This was informed by commerce and industry minister Piyush Goyal in his second marathon meeting with stakeholders, including e-commerce companies, on Monday.

Kuala Lumpur: Growth in India's demand for gasoline and jet fuel is expected to slow slightly this year, the head of the country's largest refiner said on Tuesday, as prospects for world trade deteriorate.

"Growth in the first six months "has been slightly subdued because of many different reasons including monsoon impact," Indian Oil Corp Chairman Sanjiv Singh told Reuters.

Amazon India Senior Vice-President and Country Head Amit Agarwal has been named as the new chairman of Internet and Mobile Association of India (IAMAI) on Tuesday. He succeeds former Google India MD Rajan Anandan.

“Agarwal assumes office at a time when the industry is going through a growth trajectory with more than 500 million internet users in India,” IAMAI said in a statement.

Private sector ICICI Bank Tuesday said it aimed to grow its retail loan disbursement in Kerala by over 20 per cent to Rs 3,100 crore in FY20. The bank planned to achieve this growth by rapidly expanding disbursement of consumer loans and mortgage loans, the two main pillars of retail loans, its Executive Director Anup Bagchi said.

Virgin Hyperloop One has proposed a plan that will help people to travel from Mumbai to Pune under 30 minutes. According to news reports, Virgin Hyperloop One will begin working on the project by December 2019. Virgin Hyperloop is an American transportation technology company that works to commercialise the high-speed technology concept called Hyperloop.

While Anil Ambani-promoted Reliance Infrastructure looks to almost double its existing order-book in the current financial year, not all is well with its existing orders. One of RInfra's contracts worth Rs 567 crore from NTPC has been re-tendered and awarded to another company this month.

Mumbai: Domestic equity benchmark BSE Sensex fell over 150 points in early trade on Tuesday tracking losses in IT stocks amid weak cues from other Asian markets.

The 30-share index was trading 124.41 points, or 0.32 per cent, lower at 38,998.55 at 0930 hours. Similarly, the broader NSE Nifty was quoting 35.25 points, or 0.30 per cent, down at 11,664.40.

Pune: Hyundai, India’s second biggest Korean car maker’s new attractive sub-compact SUV model Venue has bucked the trend of steep falling cars sales in Asia’s third biggest economy.

Thanks to competitive pricing and its best features, Hyundai Venue has crossed 34,000 bookings within a month of its launch in the fiercely competitive but slowing economy. Buyers have to make a down payment of Rs 25,000 for the booking.

Maruti Suzuki has snatched one more position from Hyundai Motors India in the list of top 10 models sold in May, bagging eight places. Till April, seven Maruti models featured in the SIAM’s ten best-selling passenger vehicles list, while Hyundai bagged the remaining.

Hyundai’s hatchback i10, which has been in the top 10 list for many years, did not feature in May’s list.

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