Business

The outlook partly reflects government and policy ineffectiveness in addressing economic weakness, which led to an increase in debt burden from already high levels, the ratings agency said.

Industrial output growth in August contracted by 1.1 per cent, after a gap of 26 months, reinforcing fears of a slowing economy and deteriorating consumer sentiment.

The Essential Commodities Act seeks to regulate the production, supply and distribution of commodities that the government declares 'essential' in order to make them available to consumers at fair prices.

At 2:40 pm, shares of Snowman Logistics were trading at Rs 40.35, up 5.4%, after hitting the day’s high of Rs 43.85. Meanwhile, shares of Adani Ports were trading higher by around 0.9% at Rs 393.40.

Tech Mahindra Ltd shares gained 1.4% after net profit rose 17.2% to Rs 1,124 crore in the September quarter compared with the previous quarter.

After opening marginally higher, the 30-share index slipped into the negative terrain to trade 113.84 points, or 0.28 per cent, lower at 40,134.39.

Honda Motorcycle & Scooter India Employee Union leaders alleged that the company has reduced production of the facility by 50 per cent and is in the process of retrenching more contractual workers.

The UAE's Supreme Petroleum Council met on Monday and announced the news, saying the federation of seven sheikhdoms on the Arabian Peninsula had discovered new reserves of 7 billion 'stock tank' barrels of oil.

Crown prince Mohammed bin Salman's most ambitious economic initiative so far has been to push the state energy giant Aramco towards a stock market debut. After years of delays, the green light was announced on Sunday.

In September this year, total overdue amount, which was not cleared even after 60 days of grace period offered by generators, stood at Rs 52,408 crore as against Rs 34,658 crore in the same month last year.

'Anuradha Pradeep (non-executive and non-independent director) has resigned from the directorship of the bank on November 1, 2019,' the bank said in a regulatory filing.

Amazon in August agreed to acquire a 49% stake in a unit of India's Future Group which owns 7.3% of Future Retail, giving the US-based company a 3.58% stake in the retailer which operates more than 1,500 stores in the country.

Ramco Cements said consolidated revenue rose 11.4% to Rs 1,332 crore in the September quarter compared with Rs 1,196 crore in the corresponding period of last year.

InterGlobe Aviation on Tuesday announced that it had placed an order for 300 A320neo family aircraft, comprising A320neos, A321neos and A321XLRs.

The unit had posted a loss of Rs 2,063.8 crore for the financial year ended March 31, 2018, documents filed by Flipkart India to the corporate affairs ministry showed.

At the interbank foreign exchange market, the rupee opened lower at 71.06 against the US dollar. During the day, the domestic unit fluctuated between a high of 70.87 and a low of 71.06.