Business highlights

Following are the top business stories at 2020 hours: DEL66 BIZ-LD MSP PANEL Committee on MSP sets up four sub-groups to discuss key issues New Delhi: The committee on Minimum Support Price (MSP) formed four sub-groups on mandated topics, including making ''MSP more effective and transparent'' in its first meeting on Monday but Samyukta Kisan Morcha (SKM) remained absent.

DEL54 BIZ-LD STOCKS Sensex sinks 872 points as global markets reel; ITC, Nestle buck trend Mumbai: The Sensex dived 872 points while the Nifty finished below the 17,500-mark on Monday, in tandem with a sell-off in world stocks on renewed concerns over global growth and hawkish stance of central banks. DCM14 BIZ-STOCKS-WEALTH Equity investors poorer by over Rs 6.57 lakh crore in two days New Delhi: A decline in equities for two sessions has eroded investors' wealth by more than Rs 6.57 lakh crore.

DCM18 BIZ-ROAD ACCIDENTS-POTHOLES Over 5,000 people died in road accidents due to potholes during 2018-2020 New Delhi: Road accidents caused by potholes led to death of 5,626 people between 2018 and 2020, according to the latest government data.

DCM23 BIZ-INFOSYS Infosys reduces average variable pay to 70 pc for June quarter amid margin squeeze New Delhi: India's second largest IT services company Infosys has scaled back the average variable payout of employees to about 70 per cent for the June quarter amid margin squeeze and high employee costs, according to sources.

DEL70 BIZ-LD RUPEE Rupee ends flat at 79.84 against US dollar Mumbai: The rupee recovered early losses to close flat at 79.84 against the US dollar on Monday amid a strong greenback overseas and massive sell-off in equities. DCM8 BIZ-LENDING RATES LIC Housing Fin, Bajaj Housing Fin hike lending rates by 0.50 pc Mumbai: Mortgage lenders Bajaj Housing Finance and LIC Housing Finance on Monday announced a 0.50 per cent hike each in their lending rates.

DEL37 BIZ-GOLD-PRICE Gold falls Rs 315; silver declines Rs 635 New Delhi: Gold price fell by Rs 315 to Rs 51,679 per 10 gram in the national capital on Monday amid a decline in international precious metal rates, according to HDFC Securities.

DEL73 BIZ-GOODS VEHICLE-TRACKING Govt makes location tracking device mandatory for vehicles used for carrying hazardous goods New Delhi: The Ministry of Road Transport and Highways (MoRTH) on Monday made it mandatory for goods vehicles, manufactured on or after September 1, used for carrying dangerous or hazardous materials to be fitted with location tracking device.