Ashok Leyland expects plants to be operational only for up to 10 days in June

"Our plants are still not fully operational due to lockdown that is ongoing in the states where our plants are located. We expect the opening up announcements by the respective state governments in a phased manner, resulting in impact of our operations in the month of June 2021 also," Ashok Leyland said in a regulatory filing.

Mehul Choksi extradition: Government to file affidavit in Dominican Court requesting to be made party to Choksi’s hearing

The report noted that India is seeking to present that at present the court only has Choksi’s point of view and they be made party to the case since he is an Indian citizen and on the run for money laundering and cheating.

Top cryptocurrency prices today: Bitcoin, Dogecoin, Ethereum

Bitcoin#39;s price is currently $36,908.60, which marks its dominance at 42.21 percent, a decrease of 1.08 percent over the day.

India#39;s manufacturing PMI at 10-month low in May as new orders dwindle

After falling to a 7-month low in March, manufacturing PMI had improved slightly in April. But as production tumbled in May and finances remained stressed, manufacturing companies again cut jobs. This was the 14th straight month of job losses in a row.

Delhi govt allows home delivery of liquor for orders placed on app, website

Home delivery of liquor will be allowed only if the order was placed through a mobile app or an online web portal. No delivery will be made to hostels, offices and institutions.

WazirX announces India’s first NFT marketplace – All you need to know

More than 300 creators have been ‘whitelisted’ to release their art on the marketplace.

KKR, CDR nearing deal to buy Cloudera

The terms of the deal couldn#39;t be learned, the report said, adding that the company has a market value of nearly $4 billion.

Aurobindo Pharma, Vaxxinity seek DCGI nod to begin Phase-2/3 of COVID-19 jab UB-612

N Govindarajan, Managing Director of Aurobindo Pharma, at the company#39;s earnings call on Monday said that the drug maker expects the approval of UB-612 in December or January next year if everything goes according to their plan.

GDP Data: Numbers better than expected, but experts say vaccination pace key to consumption growth

For the full financial year (FY21), the gross domestic product (GDP) growth contracted 7.3 percent. But it grew 1.6 percent in the fourth quarter (January-March) of the financial year (FY21).

COVID-19 impact | Lockdowns ravage auto firms in May; sales seen at 11-month low

Lockdowns have forced car showrooms in major markets to shut down, which has reduced May sales to less than a third of the average since January this year, sector experts say.

CII elects T V Narendran as new president

T V Narendran takes over from Uday Kotak, Managing Director, and Chief Executive Officer, Kotak Mahindra Bank Ltd.

Auto sales in May might have been hit by lockdown, double-digit decline seen across segments

Experts largely look confident about a recovery in automobile sales from the second quarter of FY22 onwards, as restrictions are likely to be lifted. One brokerage sees a strong cyclical upturn that will last at least three years.

COVID-19 impact: Business Confidence Index plunges, says FICCI Survey

The latest round of FICCI’s Business Confidence Survey showed that the Overall Business Confidence Index nosedived and stood at 51.5 in the current round after reporting a decadal high value of 74.2 in the previous survey round.

Glenmark expects 10-12% sales growth in FY22, anticipates value unlock of its RD business

Sale of anti-COVID drug Fabiflu and other products fire Q1 revenues; the company spends little over $100 million annually on innovation RD business, bigger than most of its peers, developing a potential pipeline of drug assets

Bharti Airtel extends free vaccination programme for nearly 80,000 staff of partner, distributor network

Airtel has partnered with Apollo Hospitals to vaccinate its employees and their dependent family members. The programme is already underway, with camps being set up in 35 cities across India. The telco is bearing the cost of the vaccination drive.

Global chip supply shortages could take couple of years to address: Intel CEO Pat Gelsinger

Intel CEO Pat Gelsinger noted that the work and study-from-home trends during the COVID-19 pandemic have led to a "cycle of explosive growth in semiconductors" that has placed huge strain on global supply chains around the world.

Raymond appoints Harmohan Sahni as CEO of realty business

"Raymond Ltd strengthened its executive leadership team with the appointment of Harmohan Sahni as chief executive officer of its realty business. An industry stalwart, Harmohan was till recently the COO of Real Estate business of ECL Finance Ltd (Edelweiss Group) and has enormous experience in executing projects," Raymond said in a statement.

SoftBank ‘evaluating’ sale of $1.5 billion worth shares in Paytm ahead of IPO: Report

Paytm IPO: If the share sale goes through, this would be SoftBank’s largest exit in India after Flipkart.

BNP Paribas appoints new head of territory for India

A 30-year veteran of BNP Paribas, he has served as CEO of BNP Paribas India branches and led CIB in India since December 2019.

Fixed deposit rates: Here are FD interest rates offered by SBI, HDFC Bank, ICICI, Kotak Mahindra Bank

Fixed deposit rates: State Bank of India (SBI), ICICI Bank, HDFC Bank and Kotak Mahindra Bank offer FD tenures ranging from 7 days to 10 years.

TVS Motor Company expands in Iraq, launches two new products

The company, which opened a new showroom with sales, service and spares support in Baghdad, said it will launch its commuter motorcycle TVS StaR HLX 150 5 Gear and three-wheeler TVS King Deluxe Plus in that market.

J Kumar Infraprojects bags Rs 1,307.88 crore order from MMRDA

In a regulatory filing the company said the order is for part design and construction of balance works of Mumbai Metro Rail project.

Serum Institute to raise AstraZeneca COVID-19 vaccine output in June

Owing to vaccine shortage, in March, India had put a temporary hold on all major exports of the AstraZeneca coronavirus vaccine to meet demand at home as infections rise.

Mahindra-Fiat faceoff: MM says Thar supply ramp-up bigger worry than dispute over Jeep Wrangler

While the average production rate of Mahindra Thar hovers around 3,000 units per month, it gets twice the number of bookings here, stretching the waiting period.

Privatisation: Airport charges at Adani-run Lucknow airport jump 10x

The Adani Group won operating contracts for the previously government-run Ahmedabad, Guwahati, Jaipur, Lucknow, Mangalore and Thiruvananthapuram airports for 50 years in 2019.

SpiceJet to pay employees based on work hours, defers up to 35% of May salary for some

During the second COVID-19 wave, passenger traffic has fallen to less than 10 percent as compared to the pre-COVID levels, SpiceJet told employees.

CRED#39;s Kunal Shah takes potshot at Zerodha#39;s 100 crore salary decision, Nithin Kamath defends

Nithin clarified this is an enabling resolution that allows them as working promoters to draw salaries up to 100 crores in case of liquidity requirements.

Why Indian equity markets ignored the deadly second wave

For Indian equities, the long-term structural liquidity support is hard to ignore and any correction will therefore be short-lived

SBI revises cash withdrawal limits at non-home branches: All you need to know

Cash withdrawal for self (using a withdrawal form) along with a Savings Bank passbook has been increased to Rs 25,000 per day.

Fuel price hike | OMCs raise petrol prices by 28-29 paise, diesel by 26-28 paise on May 31

Since May 3, fuel prices have cumulatively jumped by Rs 3.83/litre for petrol and Rs 4.42/litre for diesel after a series of consecutives price hikes over the month.

Delhivery raises $277.4 million in pre-IPO round, Fidelity biggest investor

An amount of $126 million was invested by Fidelity, followed by $75.6 million added by Gamnat Pte Ltd, $50 million by Chimera Investments and $25 million was put in by Pacific Horizon Trust, a report claimed.

FPIs net sellers for 2nd consecutive month; pull out Rs 1,730 crore in May

In April, the total net outflow from the Indian capital markets (both equity and debt) stood at Rs 9,435 crore.

First picture of Mehul Choksi from Dominica jail surfaces, shows him with injury marks

Choksi is wanted in India in connection with a Rs 13,500-crore loan fraud in Punjab National Bank. He had been living in Antigua and Barbuda for the last three years after fleeing India before the fraud came to light.

LT to offer quarantine facilities to about 2.5 lakh contract labourers, 45,000 employees

Quarantine facilities have been made available from Eastern to Southern India while tie-ups with 144 hospitals have been made to provide medical care to the infected workforce, the company claimed.

Confident of better performance in India this year: Mercedes-Benz

Having addressed the supply chain issues that plagued it last year, Mercedes-Benz India is also sticking to its original plan to bring 15 new products in the market this year despite the launch of its SUV GLA delayed by almost a month due to fresh surge in COVID-19 cases in April.

Section 79 of IT Act and why it’s in the news

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Centre expands scope of ECLGS to Civil aviation, removes loan outstanding ceiling for a few sectors

The government also removed the loan outstanding ceiling of Rs 500 crore on sectors like hospitality, travel and tourism, leisure and sporting, and civil aviation, which means that even bigger entities with even higher outstanding loans in these sectors can avail of the ECLGS scheme.

Anand Mahindra#39;s hilarious take on #39;calibrated unlock#39; suggestion amuses netizens

Anand Mahindra called the financial impact of the pandemic a “harsh reality of lives vs livelihood” and said that “more lives will be ruined if economic activities continue to be frozen” due to coronavirus-enforced lockdown even if the restrictions had saved people#39;s lives.

Lottery Sambad Result May 30: ‘Dear Bangasree Ichamati’ lottery winners to be announced at 4 pm

Lottery Sambad Result: The first prize winner of the #39;Dear Bangasree Ichamati#39; lottery will take home Rs 50 lakh

Coronavirus News Highlights: CM Uddhav Thackeray urges Centre to take a call on Class 12 exams for all states

Coronavirus News Highlights: The total number of COVID-19 vaccine doses administered in India has crossed 21.2 crore, according to the Union Health Ministry.

Affle Q4 profit jumps three-fold to Rs 59 crore; revenue rises to Rs 177.58 crore

Affle delivered broad-based growth from both existing and new customers across the top 10 resilient industry verticals, it said in a statement.

Fortis Healthcare posts Q4 net profit of Rs 62.36 crore

Revenue from operations of the company stood at Rs 4,030.12 crore for the financial year ended March 2021.

Central Bank of India allots over 280 crore preferential shares to govt for capital infusion

The allotment has been done subsequent to passing of the special resolution by shareholders at an extraordinary general meeting held on May 18, it said.

Freight train on DFC clocks record speed of 99.38 kmph, runs faster than Rajdhani trains

The freight train on Saturday which achieved the highest speed completed its 351 km journey in three hours and twenty minutes.

Kotak Mahindra Bank board approves proposal to raise Rs 5,000 crore via debt

The capital is to be raised in one or more tranches, subject to the approval of the members of the bank at the ensuing Annual General Meeting and any other approvals, it said.

Gold prices end flat on firm rupee, inflation hedge; to hover around Rs 51,200 per 10 gm in June

The bullion metal has been trading higher than 20, 50 and 100 days#39; moving averages but lower than the 5 and 200 days’ moving averages on the daily chart.

Mahindra Mahindra expects car sales to take two years to rebound after COVID shock

Battered by the pandemic in 2020 and an economic slowdown in 2019, passenger vehicle sales in India fell to 2.7 million units in the last fiscal year - their lowest level in six years and well below the peak of 3.4 million units in fiscal year 2019.

Crude oil prices climb 4.16% on improved demand forecast; resistance seen around Rs 5,000

Prices could move higher as demand could continue to lend support. However, concerns about Indian demand and expectations for potential supply increase from Iran could cap upside.

This week in Auto: Mahindra rolls out product plans, Auto companies fight Coronavirus, worker unrest and more

Here is a complete list of all the important developments of the week in the auto space

Dominican court blocks removal of fugitive businessman Mehul Choksi: Here#39;s all you need to know about extradition

The Dominican court has restrained local authorities from removing Mehul Choksi from the country, throwing up a hurdle to India#39;s attempts to have him brought home and tried in the PNB scam.