BUSINESS

Rupee Gains 14 Paise Against US Dollar

Mumbai: The rupee rose 14 paise to 64.88 against the US dollar in early trade at the forex market today on increased selling of the greenback by exporters and banks. Also, a higher opening of domestic equities supported the rupee,

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Sensex Rallies Nearly 400 points, Nifty Above 10,250-mark

Mumbai: Domestic equities staged a strong comeback on Thursday with the BSE Sensex rebounding by nearly 400 points and the Nifty reclaiming the 10,250-mark on receding fears of a US-China trade war. Investors were also awaiting RBI’s monetary policy outcome,

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ICICI Securities Shares Fall 16.3 Percent on Market Debut

Mumbai: Shares in ICICI Securities Ltd fell as much as 16.3 percent on their market debut on Monday after the company raised a lower than expected 35.14 billion rupees ($541.26 million) at its initial public offering last week. Shares were

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Rupee Opens 9 Paise Higher Against US Dollar

Mumbai: The rupee strengthened by 9 paise to 65.09 against the US dollar in opening trade on Tuesday on fresh selling of the greenback by exporters. The dollar weakened against other global currencies as China imposed extra tariffs on US

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IL&FS Transportation Directors Approve Plan to Raise Rs 175 Crore via NCDs

New Delhi: IL&FS Transportation Networks Ltd on Friday said its committee of directors has approved the company’s plan to raise Rs 175 crore via issuance of non-convertible debentures (NCDs). IL&FS Transportation Networks Limited (IL&FS Transportation) is a market leader in

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JSW Steel to Buy US Based Acero Junction for $81 Million

Mumbai: India’s JSW Steel Ltd said on Thursday it agreed to buy Acero Junction Holdings for $80.85 million, as it looks to expand its operations in the United States. JSW Steel entered into a stock purchase agreement on Wednesday with

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Global Trade War May Impact India, Says Assocham

New Delhi: Indian economy particularly exports may be impacted if the global trade war escalates further, industry body Assocham said on Sunday. “If the tariff war escalates into a full-scale global trade war, it would have a collateral damage for

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Passport details must for loans of Rs 50 crore and above: Government

Passport details of borrowers taking loans of Rs 50 crore and more have been mandatory to ensure a swift action in case of fraud and prevent fraudsters from fleeing the country, a top official said today. Passport details will help

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Government Ropes in IIFT, ICAI for Improving ‘Doing Business’ Ranking

New Delhi: Commerce and industry ministry has appointed four institutes, including IIFT and ICAI, to interact with stakeholders and suggest measures to push India’s ranking in ease of doing business index, an official said. The National Institute of Construction Management

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Pilot Bags Rs 35,000 Crore-Deal from Maharashtra Govt to Build India’s First Aircraft Factory

Mumbai: The dream of a commercial pilot to set up an aircraft manufacturing company is set to take wings with the Maharashtra government on Monday signed a Rs 35,000 crore pact with him to build aircraft. Maharashtra Chief Minister Devendra

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Coca-Cola Sales Beat as Consumers Drink More Vitamin Water, Coffee

Coca-Cola Co reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, sending its shares up 2.4 percent.Organic sales, which exclude the impact of the company’s ongoing efforts to refranchise its bottling operations,

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RBI Tightens Rules, Sets 180-day Timeline for Banks to Settle Bad Loans

Mumbai: The Reserve Bank of India has tightened its rules around bank loan defaults, seeking to push more large loan defaulters toward bankruptcy courts and abolishing half a dozen existing loan-restructuring mechanisms, in its latest bid to accelerate resolution of

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Rupee Drops 13 Paise Against Dollar at 64.39

Mumbai: The rupee today depreciated by 13 paise to trade at 64.39 against the US dollar on increased demand for the American currency from importers and banks. Dealers said early losses in domestic equity markets and increased foreign fund outflows

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General Motors aims to ramp up component exports from India

American auto major General Motors is looking to ramp up component exports from India even as it continues to add new global markets for vehicle shipments from the country, a company official said. The company, which has stopped selling cars

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Go For A Cashless Wedding

Thanks to demonetization, the big trend this wedding season, is to go cashless completely. Yes, even the priest can be paid by cheque. These big cash-driven affairs can now be taken care of online with a few clicks from any

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