Ashok Leyland, a flagship company of the Hinduja group and country’s second largest commercial vehicle manufacturer, announced on Tuesday that, it has become the first Indian original equipment manufacturer to meet Bharat Stage VI emission norms across its full range of heavy duty trucks with gross vehicle weight of 16.2 tonnes and above.

The Government of India has approved Rs. 9,000 crore capital infusion in IDBI Bank. Out of Rs 9,000 crore, the government will provide Rs 4,557 crore as one-time re-capitalisation of the bank, while Rs 4,743 crore will be infused by the LIC.

Nesco Ltd was picked by our Bollinger Band squeeze scanner which suggests that the stock is near a consolidation breakout.

At the end of the session, Sensex closed at 36,562.91, down 769.88 points or 2.06 per cent, while, Nifty slipped 225.35 points or 2.04 per cent to settle at 10,797.90.

Following weak auto sales numbers, the NIFTY Auto index made an intraday low of 6888.30 and at the end of the session NIFTY Auto index was trading at 6939.25, down by 70 points.

Following stocks are close to their 52-weeks low as at 14:53 p.m. on September 03, 2019.

The markets on September 03, 2019 opened gap down. BSE Sensex is trading at 36,617.68, down by 715.11 points and the Nifty is trading at 10,816,45, down by 206.80 points.

The company has agreed to withdraw the arbitration proceedings on receipt of the total payment. Out of this amount, around Rs. 66 crore is towards principal which is already provided for in the books of the company and around Rs. 26 crore is towards interest income which is not yet recognised due to uncertainty.

The company is also is planning to appoint 2,000 people. The company’s manpower cost has grown to 8.2 per cent (as a percentage of sales) in Q1FY20 as compared to 7.8 per cent in the corresponding quarter last year. Talking about the contribution from private labels, the company is hoping to achieve 75 per cent share from the same vs 70 per cent at present.

In the next few months, Sagar Anveshika will undergo outfitting of accommodation areas as well as fitment of scientific instruments in the laboratories. The company aims to deliver the vessel to NIOT by December 2019, again almost 3 months ahead of schedule.