DGCA threatens IndiGo Aviation regulator DGCA asked IndiGo on Friday to replace Pratt and Whitney (PW) engines of 23 A320neo planes by November 19 or else they would be grounded. The regulator also asked IndiGo that all 97 such aircraft in its fleet must have modified PW engines by January 31 next year "at all costs". The DGCA directive came after the airline faced four engine malfunctions in A320neo planes in the last one week, which "has caused serious concern and resultant disruption". Oct GST collections remain subdued
The Goods and Services Tax (GST) collection in October declined to Rs 95,380 crore, as against Rs 1,00,710 crore in the same month a year ago, as per government data released on Friday. This is the third consecutive month when GST mop-up remained below the Rs 1 trillion mark, despite October being a festive month. COAI ignores Jio's protest; seeks full waiver of telcos' dues Ignoring its member Reliance Jio's contentions, telecom industry association COAI has shot off an 'addendum' to its earlier demands and has now sought a complete waiver of statutory dues that its other members such as Bharti Airtel and Vodafone-Idea owe to the government following the Supreme Court ruling.Maruti Suzuki sales up 4.5% in October
The country's largest carmaker Maruti Suzuki India (MSI) on Friday reported a 4.5 per cent increase in total sales at 1,53,435 units in October.
The company had sold 1,46,766 units in October last year, MSI said in a statement. Domestic sales also grew 4.5 per cent to 1,44,277 units last month as against 1,38,100 units in October 2018, it added. Manufacturing PMI drops to 2-year low in Oct
Manufacturing activity in the country continued to weaken in October, with factory orders and production rising at the weakest rates in two years, a monthly survey said on Friday. The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to a two-year low of 50.6 in October from 51.4 in September. This indicates only a marginal improvement in the health of the manufacturing industry, the survey said.India's Oct unemployment rate highest in over 3 years India's unemployment rate in October rose to 8.5%, the highest since August 2016, and up from 7.2% in September, according to data released by the Centre for Monitoring Indian Economy (CMIE) on Friday, reflecting the impact of a slowdown in the economy.
Dr Reddy's Q2 net doubles to Rs 1,092 cr on one-off gains
Riding on one-off gains, drug major Dr Reddy's Laboratories Limited has reported a 33 per cent jump in profit before tax, at Rs 766.4 crore, while its post-tax profit more than doubled to Rs 1,092.5 crore for the quarter ended September 2019. Th epre- and post-tax profit figures in the corresponding quarter the previous year were Rs 578 crore and Rs 503.8 crore respectively.
Pepsico India wins US award for saving more than 17 billion litres of water
US Secretary of State Mike Pompeo on Thursday presented the prestigious Award for Corporate Excellence to Pepsico India for its efforts to save more than 17 billions of litres of water through community water programs and positively impacting thousands of community members.