India’s largest carmaker Maruti Suzuki India Ltd reported a 27 per cent decline in domestic passenger vehicle sales in September 2019. YES Bank share price fell over 23 per cent in trade on a report that the lender’s promoters have sold another 2.16 per cent stake in the bank. The Reserve Bank of India has assured the public that the Indian banking system is in a sound state and there is no need to panic. Read for more top stories from the world of business and economy:
Maruti Suzuki sales have gone up 18.55% on a month on month basis from 93,173 units in August 2019 to 110,454 units in September 2019.
YES Bank share price tumbled 23.88% to a fresh 52-week low of Rs 31.55 against the previous close of Rs 41.45 on BSE. Of late, YES Bank promoters have been frequently selling their stake.
In an earlier statement, the RBI had said that the government was trying to strengthen the public sector banks and there was no question of closing down any one of them.
Lufthansa had a codeshare agreement with Jet Airways. But, since the grounding of Jet, the group is looking at new codeshares in the Indian market.
The communication also directed the state-level authorities to communicate to the DCGI at the earliest on the action initiated by them.