ECONOMY

  • Rupee recovers 12 paise against dollar in early trade January 30, 2015

    Mumbai: The rupee recovered by 12 paise to 61.74 against the US dollar in early trade on Friday at the Interbank Foreign Exchange on fresh selling of the American currency by exporters. Forex dealers said the dollar's weakness against other currencies overseas and a higher opening in the domestic equity market...
  • Sensex drops 499 points, Nifty snaps 10-day rally on profit-taking January 30, 2015

    Mumbai: The benchmark Sensex on Friday hit new high of 29,844.16 but succumbed to heavy profit-booking led by banking shares to fall by 498.82 points to 29,182.95, logging its worst drop in three weeks, even as the government's mega share sale in Coal India sailed through. The NSE Nifty, which hit...
  • GDP base year revision may help government contain fiscal deficit January 29, 2015

    New Delhi: A new series of national accounts with 2011-12 as base year for computing economic growth rate will be released on Friday, which may provide some cushion to government struggling to meet fiscal deficit target. With the revision of base year, the size of economy is expected to bigger...
  • Rupee ends unchanged against US dollar at 61.41 January 28, 2015

    Mumbai: The Indian rupee on Wednesday ended unchanged against the US dollar at 61.41 ahead of the outcome of US Federal Reserve's policy meeting. The rupee resumed lower at 61.50 per dollar as against the last closing level of 61.41 per dollar at the Interbank Foreign Exchange (Forex) Market. It moved...
  • Rupee gains 35 paise against dollar in early trade January 23, 2015

    Mumbai: The rupee strengthened by 35 paise to 61.35 against the dollar in early trade at the Interbank Foreign Exchange on strong selling of the US currency by exporters amid sustained capital inflows. Forex dealers said besides selling of the American currency by exporters, continued overseas capital inflows and soaring domestic...
  • Chinese daily scoff at reports of India's GDP overtaking China January 21, 2015

    Beijing: Peeved over IMF's forecast that India's growth rate would surpass that of China by 2016, a state-run daily on Wednesday said that having overshadowed by the Communist giant for long, India is seeking evidence to show that "it is not inferior to China". "It's different in India. Long overshadowed...
  • Rupee gains 9 paise against dollar in early trade January 21, 2015

    Mumbai: The rupee strengthened by 9 paise to 61.60 against the US dollar in early trade, extending its rising streak for the fifth straight day at the Interbank Foreign Exchange on selling of the US currency by exporters and banks. The rupee settled two paise higher at 61.69 against the...
  • Sensex, Nifty at historic high levels; HUL steals the show January 21, 2015

    Mumbai: Rising for the fifth day in a row, benchmark BSE Sensex on Wednesday set a life-time high of 28,958 points and NSE Nifty recorded a historic 8,741 points as overall macro outlook and optimism over forthcoming budget continue to buoy investor sentiment. After resuming the day higher...
  • Europe deflation biggest risk to global economy in 2015: Nobel Laureate for Economics January 21, 2015

    Nobel Laureate for Economics Edmund Phelps speaks out on Global Financial Crisis saying that Europe's deflation is the biggest risk to the global economy in 2015. ...
  • Sensex hits life high, ends at 28788.28, Nifty at 8698.00 January 20, 2015

    Mumbai: Equity benchmarks surged to record highs on Tuesday among growing perception that India is the best placed among emerging markets because of its improving macro economic fundamentals. The 30-share Sensex hit a new peak of 28829.29, before closing at 28784.67, up 522.66 points or 1.85 per cent over its...
  • There was no focus on manufacturing in last 5 years, says Arun Jaitley January 18, 2015

    Finance Minister Arun Jaitley on Saturday addressed 'Act for Growth Meet'. ...
  • India will become a country of opportunities, says PM Modi January 16, 2015

    New Delhi: India will become a country of opportunities and the government is committed to achieving the fiscal deficit target, said Prime Minister Narendra Modi on Friday. Speaking at the ET Global Business Summit in New Delhi, Modi said the New Age India has also begun its transition from a winter...
  • RBI rate cut decision 'turning point', will boost growth: Arun Jaitley January 16, 2015

    New Delhi: Finance Minister Arun Jaitley on Friday described the decision of RBI to cut key policy rate by 0.25 per cent as an "important turning point" and hoped it would engender faster growth. "After two years that interest rates are going to move downwards and...
  • Why 2015 will be defining year for India January 16, 2015

    New Delhi: If there were an annual prize for the "World's Most Hopeful Economy," it would likely go to India. After years of disappointing returns, the world's largest democracy rediscovered vigor in 2014. Stocks rose by a third; foreign investment grew by a quarter; the economy at one stage expanded...
  • Rupee rises to over 1-month high, up 19 paise Vs US dollar at 61.87 January 16, 2015

    Mumbai: The Indian rupee on Friday appreciated for the second straight session and rose 19 paise to log its over one-month closing high of 61.87 against the Greenback following sustained dollar selling by exporters and capital inflows in local shares. However, a strong dollar overseas after Switzerland's unexpected move to lift...
  • Rupee off 2-month high, ends 12 paise up Vs dollar as RBI cuts rate January 15, 2015

    Mumbai: The rupee touched two-month high of 61.47 against the US dollar in day trade before closing up by 12 paise at 62.06 today amid a rally in stock markets as RBI cut policy rate by 0.25 percentage points. The rupee gained 71 paise to touch...
  • Nifty ends at 8494, Sensex soars 729 points January 15, 2015

    Mumbai: The market has ended with some very strong gains. The Sensex was up 728.73 points or 2.7 per cent at 28075.55, and the Nifty ended up 216.60 points or 2.6 per cent at 8494.15. About 1693 shares advanced, 1206 shares declined and 322 shares were unchanged. Banks led...
  • Rupee snaps five-day uptrend vs US dollar January 14, 2015

    Mumbai: The Indian rupee on Wednesday snapped its five-day uptrend against the greenback, ending four paise lower at 62.18 on fresh dollar demand from banks and importers in view of fall in crude oil prices. The rupee resumed higher at 62.08 per dollar as against the last closing level of 62.14...
  • Rupee gains 12 paise against dollar in early trade on Tuesday January 13, 2015

    Mumbai: Continuing its rising streak for the fifth straight session, the rupee gained another 12 paise at 62.04 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks amid higher opening of domestic equities. Besides, encouraging...
  • Industrial output recovers in November, up 3.8 per cent January 12, 2015

    New Delhi: Industrial output recovered at a much faster-than-expected pace in November, posting an annual growth of 3.8 per cent year-on-year, helped by a rebound in capital goods sector, government data showed on Monday. Analysts were expecting output growth to come in at 2.2 per cent compared with a 4.2 per...
  • World Bank projects 6.4 per cent economic growth in India in 2015 January 11, 2015

    Gandhinagar: Indian economy is likely to grow at 6.4 per cent in 2015 and accelerate further in the next year on the back of steps being taken by the Narendra Modi-led NDA government, World Bank President Jim Yong Kim said on Sunday. Speaking at the...
  • PM Modi woos investors at Vibrant Gujarat summit, says India offers demand, democracy, demography January 11, 2015

    Gandhinagar: Prime Minister Narendra Modi on Sunday wooed investors from across the world by presenting his government as business-friendly and portraying India as the idle place for an investment. He said, "India offers you 3Ds - democracy, demography and demand and it will not be found anywhere else in the...
  • Perks in India Inc get fancy; top talent gets iPhones, Mercedes cars January 11, 2015

    New Delhi: When it comes to rewarding top performing employees, many large corporates are giving out expensive gifts such as latest iPhones, Mercs, flats and jewellery a trend started by a little-known diamond firm in Gujarat a few months back. Last Diwali, Surat-based Hari Krishna Exports created a flutter by announcing...
  • Sensex climbs 183 poits; Infosys up 5 per cent January 9, 2015

    Mumbai: In a volatile trade, the stock market benchmark Sensex on Friday soared higher by 183 points, led by gains in IT stocks as Infosys beat market expectations with a robust set of quarterly results. After opening on a strong note, the 30-scrip BSE index...
  • Rupee gains 35 paise to end at four-week high vs US dollar January 9, 2015

    Mumbai: Notching up gains for the third successive session, Indian rupee on Friday surged 35 paise to end at four-week high of 62.32 against the greenback on persistent selling by participants and on continued optimism of inflows. Weakness in the dollar in overseas markets also boosted the rupee value, forex...
  • Rupee up 9 paise against dollar in early trade January 8, 2015

    Mumbai: The rupee strengthened by 9 paise to 63.08 against the dollar in early trade at the Interbank Foreign Exchange on increased selling of the US currency amid a higher opening in domestic equity market. Forex dealers said besides continued selling of the American currency by exporters and banks, a higher...
  • Global slow growth opportunity for India, says Arun Jaitley January 7, 2015

    Kolkata: Observing that India needs to create an environment for cyclic investments and ease norms of doing business, Union Finance Minister Arun Jaitley on Wednesday pointed to the ongoing global slow growth as an opportunity for the country as investors are eyeing its market. If the Union Minister, during his address...
  • Rupee logs best gain in 3 weeks, up 40 paise vs US dollar January 7, 2015

    Mumbai: Bucking the weak trend in stocks, the Indian rupee on Wednesday bounced back by 40 paise in its sharpest single-day gain in three weeks to end at 63.17 against the Greenback on fresh dollar selling by exporters and some banks. Besides, talk of foreigners buying domestic debt also helped the...
  • Arvind Pangariya will work hard to improve country's economy, says his brother January 7, 2015

    Columbia University professor Arvind Panagariya's appointment as the Vice Chairman of the NITI Aayog means he'll be home after 40 years. His family says he will work hard to improve India's economy and boost growth across the country. His brother said, "Overwhelmed at my brother's appointment as Vice Chairman of...
  • No respite for markets as Sensex, Nifty drop to three-week lows January 7, 2015

    Mumbai: After Tuesday's crash, the benchmark Sensex on Wednesday languished in the red for most of the session and closed 79 points down at three-week low on losses in bluechips, including ICICI Bank and Hindalco, amid continued capital outflows. The NSE Nifty barometer ended with a loss of 25.25 points at...