ET NEWS

Opener Pathum Nissanka's magnificent hundred went in vain as India defeated Sri Lanka via a Super Over in their inconsequential Super 4s match of the Asia Cup here on Friday. In the Super Over, left-arm pacer Arshdeep Singh struck twice to restrict Sri Lanka to just two runs, which India skipper Suryakumar Yadavknocked off in the first ball. Earlier, sent into bat, India posted 202 for five, with in-form opener Abhishek Sharma slamming a 31-ball 61 laced with eight fours and two sixes. Tilak Varma (49 not out off 34 balls), Sanju Samson (39 off 23) and Axar Patel (21 not out off 15) also made useful contributions. In reply, Nissanka produced a brilliant 58-ball 107 but Sri Lanka were restricted to 202 for five in 20 overs. Kusal Perera chipped in with a 32-ball 58. Kuldeep Yadav (1/31), Varun Chakaravarthy (1/31), Hardik Pandya (1/7), Arshdeep Singh (1/46) and Harshit Rana (1/54) shared the wickets for India. Brief Scores: India: 202 for 5 in 20 overs (Abhishek Sharma 61, Tilak Varma 49 not out, Sanju Samson 39; Charith Asalanka 1/18). Sri Lanka: 202 for 5 in 20 overs (Pathum Nissanka 107, Kusal Perera 58; Kuldeep Yadav 1/31).

Hindustan Unilever, India's largest consumer goods company, on Friday said it expects near-flat to low single-digit growth in the September quarter due to temporary disruptions across its distribution network caused by the goods and service tax (GST) rate cuts.The maker of Dove shampoo and Lux soap said the lowered taxes support long-term consumption though it has faced a transitory impact in the form of disruptions at distributors and retailers for clearing existing inventories with pre-GST prices."This has resulted in postponement of ordering in anticipation of receiving new stocks with updated prices and lower orders across the overall portfolio as consumers delayed their pantry buying. This has led to a short-term impact on sales for the company in September," HUL said in a stock exchange filing. "Given our existing pipeline inventory in the channels, we expect this impact to continue into October as well." The revamped GST regime rolled out from September 22 lowered taxes on daily essentials including soaps, shampoos, toothpaste, and food items from 12% or 18% to 5%. HUL said the revised rates covered about 40% of its portfolio, and it has passed on the price cuts to consumers through competitive pricing and enhanced value. While consumer companies expect retailers and distributors to replenish inventories, they do not anticipate an immediate spike in consumer demand as these price cuts are not time-bound and will not trigger any pantry loading.Notably, the trade pipeline for many companies had virtually dried up as trade partners did not want to block their working capital by ordering and getting credit for the price difference later."These reforms are expected to increase disposable income and drive long-term demand across key categories. This is a one-off, transitory impact, and we anticipate recovery starting November as prices stabilise, underpinned by rising disposable incomes and our ongoing portfolio transformation actions," HUL said.The company's performance is considered a proxy for broader consumer sentiment in India. Its value sales growth has been swinging between near-flat and 4% for nearly two years.HUL posted a 5% rise in sales during the June quarter but said while demand was recovering gradually, it did not expect the scenario to change overnight.

Tata Motors on Friday announced the appointment of Shailesh Chandra as Additional Director, Managing Director & CEO, effective October 1, 2025, for a three-year term. Chandra will continue to lead Tata Passenger Electric Mobility, the company’s wholly-owned EV subsidiary, following the resignation of P B Balaji as Group CEO.PB Balaji will take charge as the CEO of JLR Automotive in the UK, effective the same day.The Mumbai-based auto major's commercial vehicles business and its related investments would be housed in one entity, while the passenger vehicles business, including PV (Passenger Vehicle), EV (Electric Vehicle), JLR ( Jaguar Land Rover), and its related investments, will be part of the other firm.In a regulatory filing, the company said its board has also approved the appointment of Girish Wagh to the board of TML Commercial Vehicles Ltd -- the proposed listed entity in which the commercial vehicles business of the automaker would be demerged -- as an Additional Director, Managing Director and CEO effective October 1, 2025.Besides, the company has appointed Sudha Krishnan as an Additional, Non-Executive Independent Director of the company, for a tenure of five years commencing from October 1, 2025. Tata Motors said Hanne Sorensen will continue to be a director on the Board of Jaguar Land Rover Automotive Plc. UK, Kosaraju Veerayya Chowdary and Guenter Karl Butschek will join the Board of TML Commercial Vehicles Ltd. Chandra joined Tata Motors Limited in April 2016 as Head – Corporate Strategy and Business Transformation and later as President – Electric Mobility Business and Corporate Strategy. Prior to joining Tata Motors Limited, he was engaged with Tata Sons Limited from September 2013 upto March 2016 as General Manager – Group Strategy and Assistant Vice President – Group Chairman’s Office.He also serves as a Non-Executive Director on the Board of Directors of Tata Technologies Limited, Fiat India Automobiles Private Limited and also a few foreign companies, namely, Trilix S.r.l., Italy and Tata Motors Design Tech Centre Plc, UK.Chandra possesses a bachelor’s degree in technology in mechanical engineering from Banaras Hindu University and an executive master’s degree in business administration from S.P. Jain Institute of Management and Research.