ECONOMY

  • Sensex, Nifty rebound in volatile trade; Realty in limelight 10 hours 8 minutes ago

    Mumbai: The benchmark Sensex on Wednesday recovered 48 points to 28,386.19 after realty scrips, led by DLF, rose as government approved hiking floor area ratio in Delhi and FMCG shares, including ITC, jumped after Tuesday's slump. Rate cut hopes and short-covering ahead of Thursday's monthly expiry of derivative contracts boosted...
  • Rupee edges up against US dollar to end at 61.84 12 hours 49 minutes ago

    Mumbai: In listless trade, the Indian rupee on Wednesday edged up by two paise to close at 61.84 against the Greenback on stray dollar selling by exporters. Firm dollar overseas and sustained capital inflows, however, restricted the rupee rise, a forex dealer said. Some dollar demand from importers, mainly oil...
  • US investors elevate India over other emerging markets Yesterday

    New York: US investors, buoyed by optimism about India's economy and booming stock market, have been moving money into exchange-traded funds that focus solely on that country. US-listed India ETFs have added about $2 billion in net new assets so far this year, outshining other emerging market funds. That brings the...
  • Rupee rebounds 8 paise against dollar to end at 61.86 Yesterday

    Mumbai: After breaching the 62-mark in early trade, Indian rupee on Tuesday rebounded and ended with a gain of 8 paise at 61.86 against the Greenback on account of suspected RBI intervention through state-owned banks. Despite a sharp sell-off in local stocks and lower dollar value ahead of key US...
  • Sensex, Nifty log biggest drop in nearly six weeks Yesterday

    Mumbai: In their biggest drop in nearly six weeks, benchmark Sensex on Tuesday tumbled 161 points to 28,338.05 and Nifty index fell 67 points to 8,463.10 from record highs due to profit-booking and worries over new norms on P-Notes. Shares of Realty, FMCG, Power, Metal, Consumer Durables, Banking, Capital Goods...
  • India can grow at 9 per cent, become $10 trillion economy in 20 years: Report 2 days ago

    New Delhi: India has the potential to achieve 9 per cent growth rate and become a $10 trillion economy by 2034 on the back of concerted efforts by the corporate sector and a constructive role played by the government, a PwC report said on Monday. "India is on the cusp...
  • Rupee gains 8 paise against dollar in early trade 2 days ago

    Mumbai: The rupee strengthened by eight paise to 61.68 against the dollar in early trade on Monday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amidst sustained foreign capital inflows. Forex dealers said apart from increased selling of the American currency by exporters...
  • Sensex, Nifty end at new closing high; metals & IT surge 2 days ago

    Mumbai: Stirred up by positive global news, Indian market maintained strong upmove throughout the day before ending at record high levels. The Sensex ended up 164.91 points or 0.6 per cent at 28499.54 after hitting intra-day record high of 28542. The Nifty closed up 52.80 points or 0.6 per cent...
  • Manufacturing growth may moderate in December quarter: FICCI 3 days ago

    New Delhi: The country's manufacturing sector is likely to witness a moderate growth in the third quarter of this fiscal, according to a FICCI survey. Showing signs of recovery, industrial production grew at a three-month high of 2.5 per cent in September on account of better mining and manufacturing output....
  • 2015-16 Budget to unveil second generation reforms, says Arun Jaitley 3 days ago

    New Delhi: A "whole set of second generation reforms" will be unveiled in the next Union Budget, Finance Minister Arun Jaitely said on Sunday, promising "a lot of exciting time ahead". The country needs "a larger opening out in more sectors," it requires stability of policy and tax regime besides a...
  • India needs 25 million housing units, will touch 38 million by 2030 3 days ago

    New Delhi: The Delhi Development Authority (DDA) has launched its much awaited biggest housing scheme offering 26,000 flats of which 24,000 are one room sets meant for the lower income group. However, despite the scale of the scheme it is unlikely to bridge the housing gap in the city....
  • Rupee gains 8 paise against dollar in early trade 5 days ago

    Mumbai: The rupee strengthened by 8 paise to 61.86 against the dollar in early trade on Friday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid a higher opening in the domestic equity market. Forex dealers said besides increased selling of the American...
  • Market closes at new high; Sensex ends at 28,334.63, NIFTY at 8,477.35 5 days ago

    Mumbai: Indian stocks on Friday notched up their best gain in three weeks with benchmark Sensex surging 267 points and Nifty jumping by 75.45 points to hit new highs powered by a spurt in shares of lenders after Kotak Mahindra-ING Vysya announced India's biggest banking merger. The mood was positive across...
  • British Airways, Lufthansa to offer special fare, products to Indian travelers 6 days ago

    New Delhi: British Airways and Lufthansa are among several international carriers coming up with special fares and products to target the high-end Indian air traveler. British Airways (BA) came out with a limited period 20 per cent discount for its business class flights to North America, while Lufthansa announced introduction of...
  • Rupee plunges to 62-level against dollar, but recoups losses 6 days ago

    Mumbai: The rupee on Thursday plunged to nine- month low of 62.25 against the dollar but recouped losses to close the day at 61.94 on suspected selling of the US currency by state-run banks on behalf of the RBI and mild recovery in stocks. The previous low for rupee was 62.45...
  • Japan PM Shinzo Abe puts off tax hike, calls snap poll November 18, 2014

    Tokyo: Japan's Prime Minister Shinzo Abe called a snap election for December and put off a sales tax hike planned for next year, vowing on Tuesday to step down if his strategy to revive the ailing economy falls flat. Despite Abe's aggressive revival policies to end two decades of stagnation, the...
  • Rate cut by RBI will give a good fillip to the economy: Arun Jaitley November 18, 2014

    Pushing for a rate cut by the Reserve Bank of India, Finance Minister Arun Jaitley said that the measure would give a good fillip to the economy. Jaitley's comments came on the back of a slide in crude oil prices and inflation moderating. "I am quite clear in my mind...
  • Rupee drops for 4th day vs USD, ends at 1-month low of 61.74 November 18, 2014

    Mumbai: The Indian rupee on Tuesday weakened for the fourth straight session and ended at a one-month low of 61.74 against the US dollar. In line with lacklustre trade in local equities, the rupee closed one paisa down against the greenback on alternate bouts of buying and selling, despite a sharp...
  • Sensex closes 15 points down at 28,163.29; Nifty down at 8,425.90 November 18, 2014

    Mumbai: Sensex on Tuesday ended about 15 points down at 28,163.29 after hitting lifetime high of 28,282.85 while Nifty closed 5 points down at 8,425.90. Indices are steady in noon trade with the Sensex up 23 points at 28201, and the Nifty up 3 points at 8434. Buyers are focused on...
  • Modi, Abbott hold talks, seek enhanced economic partnership November 18, 2014

    Canberra: India and Australia on Tuesday sought early conclusion of negotiations for a comprehensive economic partnership agreement and a closure on the civil nuclear deal as Prime Minister Narendra Modi and his counterpart Tony Abbott held talks. After the two leaders held talks, India and Australia signed five pacts on social...
  • Rate cut by RBI will give 'good fillip' to economy, says Arun Jaitley November 17, 2014

    New Delhi: Pitching for a rate cut by RBI, Finance Minister Arun Jaitley on Monday said that lower cost of capital will give a "good fillip" to the economy. "I am quite clear in my mind that the cost of capital has to come down....
  • G20 plans major investment initiatives in countries like India November 17, 2014

    Brisbane: The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth. A Brisbane Action plan released as part of the G20 communique also said that the state of the global economy calls for a comprehensive and coherent policy response that restores...
  • Markets' dream run continues, Sensex, Nifty surge to new peaks November 17, 2014

    Mumbai: Extending their record-breaking run, the Sensex on Monday surged 131.22 points to end at new peak of 28,177.88 and the Nifty rose 40.85 points to fresh closing high of 8,430.75 on the back of positive cues on the trade deficit front and robust gains logged by SBI and Tata...
  • Rupee ends almost stable at 61.73 Vs US dollar on Monday November 17, 2014

    Mumbai: In lackluster trade, the Indian rupee on Monday closed almost flat at 61.73 against the Greenback on alternate bouts of demand and supply amid rise in dollar value overseas. While the marginal drop in rupee was its third straight session of decline, the local currency seemed to hold steady compared...
  • G-20 leaders agree on $2 trillion boost to growth November 16, 2014

    Brisbane: Under pressure to jolt the lethargic world economy back to life, leaders of G-20 nations on Sunday finalized a plan to boost global GDP by more than $2 trillion over five years. The fanfare, however, was overshadowed by tensions between Russian President Vladimir Putin and Western leaders. The communique from...
  • Inflation drops to 5-year low of 1.77 per cent, India Inc wants rate cut November 14, 2014

    New Delhi: Driven by softening prices of fuel and food items, the WPI inflation cooled to a five year low of 1.77 per cent in October raising hopes of rate cut by the Reserve Bank next month to boost economic growth. The decline in Wholesale Price Index (WPI) based inflation...
  • Rupee ends lower by 4 paise vs dollar at 61.55 November 13, 2014

    Mumbai: Paring its early gains, the rupee finished lower by 4 paise at 61.55 against the US dollar on renewed dollar demand from banks and importers. The rupee resumed higher at 61.46 per dollar as against last closing level of 61.51 at the Interbank Foreign Exchange (Forex) Market. However, it declined afterwards...
  • Sensex ends 68 points down; HPCL, BPCL slip 4-6 per cent on excise hike November 13, 2014

    Mumbai: The market has ended lower. The Sensex was down 68.26 points or at 27940.64 and the Nifty slipped 25.45 points at 8357.85. About 1334 shares advanced, 1716 shares declined and 105 shares were unchanged. Tata Power, Sesa Sterlite, ONGC, GAIL and Hero Moto were major laggards. On the gaining...
  • Manohar Parrikar travels in economy class, avoids Z security November 12, 2014

    Panaji: Union Defence Minister Manohar Parrikar on Wednesday said he would use the security cover only when necessary, and avoid using the special aircraft as far as possible. "I have not taken Z security cover in Goa. I would prefer to go around with minimum security. But in Delhi while travelling...
  • Industrial output growth picks up in September to 2.5 per cent November 12, 2014

    New Delhi: India's industrial output grew a faster-than-expected 2.5 per cent year-on-year in September, helped by a rebound in capital goods sector, government data showed on Wednesday. Analysts polled by Reuters had forecast the output to grow a meagre 0.6 per cent. Industrial production was upwardly revised to 0.5 per cent...