PV sales snap 11-month slide in October
Passenger vehicle sales in India rose marginally in October aided by positive festive season sentiment and introduction of new models in utility vehicle space, just about managing to snap 11 continuous months of decline in sales, auto industry body SIAM said on Monday. Society of Indian Automobile Manufacturers (SIAM) expressed hope that the positive sentiment would continue in November and December as well, thus helping the industry “slowly come out of the slowdown”. According to the latest data by SIAM, passenger vehicle (PV) sales during October increased by 0.28 per cent to 2,85,027 units, from 2,84,223 units in the year-ago period. Passenger vehicle wholesales in India had declined for the 11th consecutive month in September.
Shiv Sena steps up efforts to form govt in Maharashtra
With the Maharashtra governor inviting the Shiv Sena to stake claim, party chief Uddhav Thackeray now faces the biggest test of his political life to form a Sena-led government in the state, if the Congress and NCP decide to support him. Racing against time, the Shiv Sena on Monday redoubled efforts to cobble together an alliance to form a government in Maharashtra with political adversaries NCP and the Congress, which held intense discussions on the possibility extending support to the right-wing party.
Nearly 70,000 staffers have opted for VRS so far: BSNL CMD
As many as 70,000 employees of BSNL have already opted for the VRS scheme which was launched last week, Chairman and MD of the state-owned telecom corporation P K Purwar said on Monday. In all, nearly one lakh BSNL employees are eligible for the voluntary retirement scheme (VRS) out of its total strength of about 150,000. BSNL has pegged its internal target for VRS at 77,000 employees, and the effective date of voluntary retirement under the present scheme is January 31, 2020.
Jet Airways, Naresh Goyal under SFIO lens
Shares of Jet Airways were locked in the lower circuit band of 5 per cent at Rs 22.2 on the BSE on Monday after reports suggested founder Naresh Goyal was under Serious Fraud Investigation Office’s (SFIO) lens for siphoning off funds. In comparison, the S&P BSE Sensex trading 0.16 per cent lower. According to a Business Standard report, The probe agency has found that the company’s vast network of sales agents across the globe was not independent of Jet Airways and several of these entities were linked to its founder, Naresh Goyal.
Manmohan nominated to parliamentary standing committee on finance
Rajya Sabha Chairman Venkaiah Naidu has nominated former prime minister and senior Congress leader Manmohan Singh to the parliamentary standing committee on finance in place of party colleague Digvijaya Singh. Digvijaya Singh has now been nominated to the parliamentary standing committee on urban development by the chairman of the Upper House, according to a Rajya Sabha bulletin.
As Delhi chokes, 10 power plants set to miss emissions deadline
Ten coal-fired power plants near India’s capital of New Delhi are poised to miss a December deadline to install pollution control devices that would have curbed premature deaths linked to toxic emissions. Eight of the plants, whose operators include Vedanta Ltd., Larsen & Toubro Ltd. and Uttar Pradesh Power Corp., have yet to order the required flue-gas desulfurization units, according to the Central Electricity Authority. The units can take as long as three years to secure and install, and it’s unclear if the operators will be penalized by authorities if they miss the deadline.
9 listed housing firms’ combined sales up 11%
Housing sales of nine major players, which are listed on stock exchanges, rose 11 per cent to nearly Rs 5,300 crore during the first quarter of this fiscal as home buyers are preferring organised players having good track record of execution, property consultant Anarock said. The sales of these nine listed entities are expected to grow in the remaining period of this fiscal, it added. These nine companies are — DLF, Godrej Properties, Mahindra Lifespace, Oberoi Realty, Prestige, Sobha, Puravankara, Brigade and Kolte-Patil.
Cyclone Bulbul kills 12 in Bangladesh
The death toll from Cyclone Bulbul rose to 12 in Bangladesh and five fishermen are still missing, government officials said on Monday. Most of the victims had refused to evacuate and died due to falling trees, said Enamur Rahman, Bangladesh’s junior minister for disaster management and relief.