Following are the business news

Following are the business news
highlights at 1830 hours today:
Mumbai: Sacked unceremoniously, a "shocked" Cyrus Mistry has levelled a series of allegations against Ratan Tata and contended that he was pushed in to a position of "lame duck" chairman and changes in decision making process created alternate power centres in Tata Group. (DEL52) Mumbai: Bad loan worries came back to haunt market as the Sensex slid for the second day by plunging 255 points, led by banking stocks after Axis Bank's sharp drop in quarterly profit suggested all is not well on the NPA front. (DEL47) New Delhi: Finance Minister Arun Jaitley today favoured levy of cess on tobacco and luxury products to compensate states for loss of revenue on GST saying the cost of funding that through an additional tax would be "exorbitantly high and almost unbearable". (DEL42)

New Delhi: Key Tata Group firms lost over Rs 10,000 crore for the second day today, extending the total erosion in market capitalisation to more than Rs 21,000 crore following Cyrus Mistry's ouster as Tata Group chairman. (DEL55) Mumbai: In a restricted trade, the rupee today ended almost flat at 66.83, a marginal 1 paisa drop against the American currency, amid month-end dollar demand from importers. (DEL56) New Delhi: Expressing disappointment at India's rank remaining low in terms of ease of doing business, Union minister Nirmala Sitharaman today said the efforts and reforms undertaken by the Centre and states have not been adequately captured in the ranking released by the World Bank. (DCM10) New Delhi: India being ranked 130 by the World Bank's latest 'Doing Business' report does not fully reflect the significant transformation in the overall business environment following government reforms, industry bodies said today. (DCM21) New Delhi: FMCG major Hindustan Unilever (HUL) today posted an 11.54 per cent rise in its standalone net profit at Rs 1,095.6 crore for the September quarter, helped by higher income from operations. (DCM68)

New Delhi: ITC Ltd today posted 10.49 per cent increase in standalone net profit at Rs 2,500.