India News

MUMBAI : The rupee strengthened to its highest level in nearly a month on Thursday afternoon boosted by the dollar's sharp losses against major currencies and some gains in the local sharemarket.

At 3:57 p.m. (1027 GMT), the partially convertible rupee was at 46.57/58 per dollar, after hitting 46.52, its strongest since July 2 and above its previous close of 46.75/76.

Mumbai: The Bombay Stock Exchange benchmark index, Sensex, on Thursday gained 35 points in range-bound trading, amid food inflation falling to single digit and mixed trends in Asia. The 30-share Sensex, which dropped by 120 points in the previous session, gained 34.63 points to end the day at 17,992.00 points.

Read this complete story

Cashew prices declined by Rs 5 per kg in the national capital today owing to fall in demand from retailers and stockists. Adequate stocks position followed by increased arrivals from producing belts also weighed on the cashew prices.

Read this complete story

Menthol prices fell further by Rs 5 per kg in the national capital today in view of subdued demand from consuming units. Comfortable stocks position followed by increased arrivals from producing belts in Uttar Pradesh also put pressure on the prices.

Read this complete story

Punjab National Bank, the second-largest public sector lender, is likely to hike its deposit rates by 25 to 50 basis points in view of the increase in repo and reverse repo rates announced by the RBI in its first quarter review of the monetary policy this week.

Read this complete story

New Delhi : Telecom network solutions company Huawei Technologies Thursday launched four new handsets, including two android devices, U8300 and U8500, in the Indian market.

Read this complete story

New Delhi : The Indian government has asked British infrastructure and consulting companies to invest in infrastructure projects, Road Transport and Highways Minister Kamal Nath said Thursday.

Read this complete story

New Delhi : With Opposition parties stalling Parliament over price rise, Oil Minister Murli Deora today said the hike in domestic LPG rates translated into less than a rupee per day burden on consumers and 50 paisa a day for PDS kerosene users.

Read this complete story

Mumbai : A benchmark index for Indian equities markets Thursday afternoon recovered after a brief slip but was still ruling flat amid sluggish global cues.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 17,961.58 points, was trading at 17,972.88 points, 15.51 points or 0.09 percent down from its previous close at 17,957.37 points.

Read this complete story

Berger Paints India is in talks with a domestic speciality paint maker for a possible acquisition, Chairman K.S. Dhingra said at its annual general meeting on Thursday.

The firm has appointed Ernst & Young to advise on the deal, he said.

New Delhi : Road Transport and Highways Minister Kamal Nath and visiting British Business Secretary Vince Cable Thursday unveiled the 100,000th excavator manufactured by construction equipment maker J.C. Bamford (JCB) here.

Read this complete story

The country's largest realty firm DLF reported 3.80 per cent jump in its consolidated net profit for the quarter ended June 30 at Rs 411.03 crore on account of robust sales and divestment of non-core assets.

Read this complete story

State-run explorer Oil India Ltd has set aside $2 billion for overseas acquisitions, Chairman N.M. Borah told reporters on Thursday.

Bigger rival Oil and Natural Gas Corp Ltd has spearheaded India's hunt for foreign petroleum assets, often competing with Chinese firms, but smaller firms such as Oil India and refiners like Indian Oil Corp are also scouting for assets.

Read this complete story

Reliance Industries will be able to pump natural gas at full capacity from its deep-sea field during the year to March 2013, the country's oil secretary said, indicating a delay of almost two years.

Read this complete story

India's state-run IDBI Bank plans to issue a benchmark-sized 5.5-year dollar bond as early as Thursday, a source close to the deal said. Barclays Capital, BNP Paribas, HSBC, Royal Bank of Scotland and Standard Chartered Bank were hired to manage the deal. The issuer is on the last leg of a three-day roadshow that will end in London later in the day.

IT services giant HCL Technologies Ltd today posted a growth of 23.26 per cent in its standalone net profit at Rs 237.82 crore, for the quarter ended June 30.

HCL Technologies had a net profit of Rs 192.94 crore in the same period previous year, the company said in a filing to the Bombay Stock Exchange.

Read this complete story

Mumbai : The Indian rupee appreciated by 7 paise to 46.68 a dollar in early trade on the Interbank Foreign Exchange today, largely on the back of fresh capital inflows by foreign funds and dollar''s losses against other currencies. The rupee had lost 9 paise at 46.75/76 against the dollar in yesterday''s trading.

Read this complete story

Mumbai : The Bombay Stock Exchange benchmark Sensex today rose by almost 13 points in early range-bound trading, as funds and speculators kept their positions restricted on last session of monthly expiry in the derivatives segment. The 30-share index, which had lost 120.24 points in the previous session, was up by 12.77 points or 0.07 per cent at 17,970.14 points after declining to 17,918.10 points.

Read this complete story