28 C
Bhubaneswar
Monday, July 24, 2017

Business

Petrol down by 80 paise, diesel by Rs 1.30

 After two consecutive hikes, petrol prices have been cut by 80 paise per litre and diesel by Rs 1.30 per litre. The Indian Oil Corp (IOC) said that the reduction in the rates will be in effect from midnight. After the cut, petrol will cost Rs 59.20 a litre in Delhi and diesel will be available Rs 47.20/litre. "Since last price change, the...

Rupee strengthens 13 paise against American currency

The rupee rose 13 paise at 66.60 against the USD in early trade on increased selling of the US currency by exporters even as the US Federal Reserve raised interest rates for the first time in nearly a decade. Forex dealers stated that a higher opening in the domestic equity markets also supported the rupee but the dollar's rise against other currencies...

Sensex sheds 93 pts in early trade

Mumbai: The benchmark BSE Sensex went down 93 points  in early trade today as participants cut down bets in view of the October series expiry in the derivatives segment amid weak Asian cues. The 30-share barometer declined 93.42 points, or 0.34 per cent, to 26,946.34 after opening in positive zone. The gauge had lost 431.03 points in the previous three sessions. Losses in FMCG,...

MPs urge Telecom Minister to merge Maha and Mumbai circles

Mumbai: In a bid to reduce consumer bills, 10 Maharashtra MPs have submitted a representation to Union Telecom Minister Ravishankar Prasad, asking for the merger of Mumbai and Maharashtra circles. "Presently, Mumbai and Maharashtra are treated as two different circles. Users of Mumbai have to pay national roaming charges while travelling within Maharashtra and similarly users of Maharashtra using mobile in...

Rupee falls 18 paise against US currency

The rupee  depreciated 18 paise to 67.06 against the dollar in early trade  at the Interbank Foreign Exchange, mainly on strong demand for the American unit from importers and some banks amid a lower opening of the domestic equity market. Dealers said besides dollar's gain against some overseas currencies, sustained capital outflows weighed on the domestic unit. The rupee had closed...

Sugar surges on sustained demand

Mumbai:  Sugar prices surged at the Vashi wholesale market here today due to sustained demand from stockist and retailers amid ensuing festival season. Small sugar (S-30) climbed by Rs 50/3 per quintal to Rs 2,512/2,615 from last Wednesday's closing Rs 2,462/2,612. Medium sugar (M-30) also rose by 20/24 per quintal to Rs 2,582/2,736 compared to Rs 2,562/2,712, previously. Following are today's closing rates...

Ranbaxy, Sun Pharma readies for new Leadership Team

New Delhi: Ranbaxy acquisition Laboratories and Sun Pharma has put in place a team of top executives including Dilip Shanghvi's son Alok Shanghvi to lead the businesses of both the organizations. While the leadership team is comprised mainly from the representatives of Sun Pharma, it also has executives from Ranbaxy, drawing upon expertise, experience and contribution of the chosen leaders...

IRDA: Final guidelines for reinsurers come out by October

Several insurance companies have applied to increase their foreign direct investment (FDI), which was earlier limited to 26%. Also, seven to eight reinsurance companies have expressed interest in entering India post the Insurance Act amendment. Insurance Regulatory and Development Authority (IRDA) said it is working on the final guidelines for reinsurers, which will come out by October. "About 7 to 8...

Sensex jumps 565 pts on hopes Fed will delay rate hike

Tracking firm global cues, the market benchmark Sensex today closed at one and a half months high of 26,785.55 with a surge of 564.60 points as inventors sensed diminishing chances of the Fed rate hike in the near future after a weak US jobs report. The index rising for the fourth straight session also got a leg-up from the rupee...

Sensex gains over 105 points ahead of RBI’s policy

Mumbai, Apr 7 : The benchmark BSE Sensex rose over 105 points in early trade today on sustained buying by investors ahead of the Reserve Bank's bi-monthly monetary policy review amidst a firming trend overseas. The 30-share index, which had gained 546.97 points in the previous two sessions, rose by 105.71 points, or 0.37 per cent, at 28,610.17, with healthcare, capital...

Rupee slips 6 paise US currency

The rupee declined 6 paise at 66.45 against the dollar in opening trade on increased month-end demand for the US currency from importers and banks. The dollar was firm against major global currencies, which dampened rupee sentiment, but a higher opening of the domestic equity market capped the losses, dealers said. The rupee had gained 1 paisa to end at 66.39 yesterday on fag-end selling...

RCom, Reliance Jio in talks for spectrum sharing: Anil Ambani

Mumbai: Terming it as a "virtual consolidation" in the highly-competitive telecom space, Anil Ambani today said his group firm RCom is tying up 'trading and sharing' of spectrum with Mukesh Ambani-led Reliance Jio including for the much-awaited 4G services. Addressing shareholders at the Annual General Meeting, Reliance Communications Chairman also said he was "grateful" to his elder brother for "unstinted support...

Sensex declines 44 points in opening trade

The benchmark BSE Sensex fell 44 points in opening trade  as stocks of IT, technology, FMCG and metal companies succumbed to profit-booking after recent gains amid weak Asian cues. The 30-share index tumbled 43.64 points, or 0.17 per cent, to 25,692.26. In the previous session, the gauge gained 216.68 points. Similarly, the NSE Nifty edged down by 12.75 points, or 0.16 per cent,...

Refined palmolein prices recovered marginally

Refined palmolein prices recovered marginally at the Vashi oils and oilseeds wholesale market here on renewed demand from retailers. While, groundnut oil maintained a stable trend in the absence of any worthwhile buying. In the non-edible segment, castorseeds bold and castor oil commercial recouped due to fresh offtake from shippers and soap manufacturers. Linseed oil surged owing to sustained demand from...