Sales of Maruti Suzuki’s mid-size sedan Ciaz seem to have come under pressure with 43% tax (28% GST plus 15% cess) getting levied on hybrid cars. Launched in 2014, Maruti unleashed Ciaz’s mild hybrid variant last year, which attracted just 12.5% excise duty compared to a 28% on any other car in the segment. Hence, Ciaz became most popular choice of customers in the segment. However, after the GST roll-out, taxes on hybrid cars were hiked to the same level – 28% GST plus 15% cess as any other car with a more than 4-metre chassis and this has substantially impacted the fortune of the sedan.

Shares of state-owned oil exploration & production companies – Oil and Natural Gas Corporation (ONGC) and Oil India – rallied up to 3.5% on the BSE in early morning trade on rising crude oil prices.

“Oil prices rose 3% on Monday, hitting the highest since early July 2015, as Saudi Arabia's crown prince cemented his power over the weekend with an anti-corruption crackdown, while the US rig count fell and markets continued to tighten,” the Reuters report suggests.

Microsoft CEO Satya Nadella, who is on a two-day visit to India, on Monday interacted with the software engineers working at the Hyderabad campus, one of the largest R&D centers being run by the company outside its Redmond headquarters.

Though the event was kept out of media glare, Microsoft India put out some pictures of Nadella's interaction with young employees and also Nadella's interview by NDTV's Prannoy Roy there. Employees were the sole audience at the interview session between the Microsoft CEO and Roy.

With the bulk of its wireless telephony business shutting down, Anil Ambani-owned Reliance Communications (RCom) on Monday skipped interest payment to its bond holders.

The company didn’t pay the interest, of about $9.75 million due on Monday, on its $300-million bonds that will mature in 2020.

New Delhi, Nov 6 () Private lender HDFC Bank has made online transactions through RTGS and NEFT free of cost from November 1, with an aim to promote a digital economy.

On the other hand, various charges for cheque-related transactions as well as request for additional leaves will get costly from early next month for non-managed savings and salary accounts.

Mumbai: The Indian rupee on Monday closed weaker against the US dollar while bond yield hit six-month high after international crude oil prices climbed near two year high.

The home currency ended at 64.68 against the dollar, down 0.20% from its Friday’s close of 64.55. The rupee opened at 64.66 a dollar and touched a high and a low of 64.63 and 64.74 respectively.

Mumbai: Promoters are within their rights to submit bids in the resolution process of stressed assets under Insolvency & Bankruptcy Code (IBC), said Rajnish Kumar, chairman of State Bank of India (SBI), on Monday.

“Ethical... I don’t know, but legally they are within their rights to participate. I am not concerned about that because even if it is existing promoters, there will be few pre-conditions from the creditors’ side,” Kumar said, while speaking on the sidelines of a banking conclave here.

Idea Cellular has announced a new tariff plan to take on Reliance Jio, Vodafone and Airtel. Jio had recently revamped most of its prepaid and postpaid plans. Meanwhile, 1GB data per day is still one of the most popular plans that companies have come up with. Jio has a Rs 399 plan which offers 1GB data per day. As a response, Idea Cellular has come up with the latest plan priced at Rs 357. This plan offers 1GB data per day. The new Idea Rs 357 plan also provides unlimited voice calling and 100 SMSes. However, Jio additionally offers free roaming. In terms of validity, the Idea plan can be availed for 28 days, but Jio offers the same for 70 days.

Markets regulator Sebi will look into alleged fund diversion and corporate governance lapses at various listed firms and their promoters, including those linked to Vijay Mallya, named in the leaked 'Paradise Papers'.

While some entities linked to Mallya are already being probed by Sebi and other agencies, any fresh disclosure in the leaked documents made public by ICIJ (International Consortium of Investigative Journalists) would be thoroughly looked into, senior officials said.

Mahindra & Mahindra (M&M) was up 3% at Rs 1,373 on the BSE in an otherwise range-bound market as the company said that its board will consider bonus issue in their forthcoming meeting on Friday, November 10, 2017 after a gap of 12 years.

Earlier, in August 2005, M&M had issued bonus shares in the ratio of 1:1 i.e. 1 (one) bonus equity share for every 1(one) existing equity share held by the shareholders as on the "Record date".

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