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Biz EOD: Maruti sales decline 27%, Yes Bank share tanks, RBI assures public and more

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Biz EOD: Maruti sales decline 27%, Yes Bank share tanks, RBI assures public and more
Top stories from the world of business and economy

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:

1. Maruti Suzuki reports 27% decline in domestic PV sales in September 2019

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.

2.YES Bank share price tumbles over 23% after promoters offload 2.16% stake

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.

3.No need to panic, Indian banks are safe and stable, says RBI

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.

4. Lufthansa Group looks for an Indian carrier to expand network

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.

5. Ranitidine ban: Indian drug regulator 'alerts' state authorities to ensure patient safety

The communication also directed the state-level authorities to communicate to the DCGI at the earliest on the action initiated by them.

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