Maruti Suzuki, which sells every second car in the domestic market, has revised its annual volume growth forecast to 8 per cent. The Suzuki-owned company has been logging a double-digit growth rate for four consecutive years. It had set a growth target in excess of 10 per cent for FY19.

Mahindra and Mahindra (M&M) is looking to corner 15-20 per cent market share in the competitive compact SUV segment with its about-to-be-launched offering — the XUV300. It will also launch an electric version of the model in 2020.

Based on the Ssangyong Tivoli platform, the sub-four metre, five-seater model will compete with Ford Ecosport, Suzuki Vitara Brezza and Renault Duster and go on sale in the first half of February. “The XUV500 is a very successful model. The Cheetah-inspired model is really liked by consumers.

The country's largest carmaker Maruti Suzuki India (MSI) on Wednesday cut its sales forecast for the ongoing fiscal to 8 per cent from an earlier projection of double-digit growth.

The company cited low demand in the second half of the year due to high interest rates, increased insurance cost and fuel prices for its downward revision, besides its lack of new model launch in the volume segment.

The board of India's top explorer, Oil and Natural Gas Corp Ltd, will consider a proposal this week to list its overseas investment arm, ONGC Videsh Ltd, on domestic bourses, two sources privy to the matter said on Wednesday.

The move to float the unit, which has investments in 11 producing assets in countries including Russia, Brazil, United Arab Emirates, Sudan and Venezuela, is part of a government push to sell state assets to raise funds.

World’s largest oil exporter Saudi Arabia and richest Indian Mukesh Ambani-run Reliance Industries are discussing joint investment in petrochemicals and refinery projects, the Saudi Oil Minister Khalid al-Falih said.

Al-Falih, who has known Ambani for over a decade now, travelled to Udaipur earlier this month to attend the pre-wedding festivities of Ambani’s daughter Isha’s marriage with Ajay Piramal’s son Anand.

New Delhi: Indian drug inspectors have seized samples of Johnson & Johnson’s baby powder from a plant in a northern state, an industry source said on Wednesday, following a Reuters report the company knew for decades that cancer-causing asbestos lurked in the product.

Shares of Indian telecom company Reliance Communications Ltd plunged as much as 13 percent on Wednesday after the Economic Times reported that Department of Telecommunications (DoT) rejected a proposed spectrum sale to Reliance Jio Infocomm Ltd. The RCom stock fell as much as 13.3 percent to Rs 13.65 per share on NSE. At 10.52am, RCom shares traded at 14.85 per share, down 5.71% from its previous close.

The Insolvency and Bankruptcy Code eliminates the right to redemption of Essar Steel shareholders, the counsel to lenders and ArcelorMittal said as part of their rejoinder arguments to Essar Steel Asia Holdings (ESAHL)’s plea for consideration of their settlement offer proposed ‘for and on behalf of Essar Steel’.

Carlyle Group is seeking to double its holding in mortgage lender PNB Housing Finance, people familiar with the matter said, reversing an earlier attempt to pare its stake in the company.

The US private equity firm is considering buying Punjab National Bank’s (PNB) shares in PNB Housing, which would give it a controlling stake, the people said, asking not to be named as the information is not public.

The Reserve Bank of India (RBI) on Tuesday announced further purchases of government securities (G-secs) under open market operations (OMOs) for a total amount of Rs 50,000 crore in January 2019. The operations will be conducted through five auctions of Rs 10,000 crore each.

RBI also decided to scale up the amounts to be purchased in the remaining two OMO auctions scheduled in December 2018 to `15,000 crore each after evaluating current liquidity conditions.

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