ECONOMY

  • Rupee down 13 paise against dollar in early trade November 7, 2014

    Mumbai: The rupee fell by 13 paise to 61.54 against the dollar in early trade on Friday at the Interbank Foreign Exchange due to increased demand for the US currency from importers. Forex dealers attributed the rupee's weakness to increased demand for the US currency from importers but a higher opening...
  • Reforming the economy not an easy process but will overcome hurdles soon, assures Arun Jaitley November 5, 2014

    New Delhi: Emanating optimism regarding a positive investment environment in the country, Finance Minister Arun Jaitley on Wednesday said that he is satisfied with the beginning that the government has made. He also said that reforming the economy is not an easy process and will take considerable time. "The pit...
  • NCAER lowers India GDP growth forecast for this year to 5 per cent November 4, 2014

    New Delhi: The National Council of Applied Economic Research (NCAER) has lowered India's GDP growth forecast to 5 per cent in the current financial year on weak economical fundamentals and uncertainties in growth prospects. The economic think-tank in its earlier projection had suggested that the Indian economy was likely to...
  • Rupee depreciates four paise vs US dollar to end at 61.40 November 3, 2014

    Mumbai: The Indian rupee on Monday depreciated by four paise to close at 61.40 against the Greenback on moderate dollar demand from importers, amid some hesitancy in equities. A better dollar overseas also weighed on the rupee while sustained capital inflows restricted the rupee fall. At the Interbank Foreign Exchange (Forex)...
  • Rupee snaps 4-day fall, ends at 61.36 vs US dollar on strong stocks October 31, 2014

    Mumbai: Robust capital inflows and good show by local equities helped the Indian rupee today snap a four-day losing trend and end nine paise higher at 61.36 against the Greenback. Fresh dollar selling by exporters and some banks also aided the rupee rise while a strong dollar overseas after forecast-beating US...
  • Nifty closes above 8300 for 1st time, Sensex spikes 520 points October 31, 2014

    Mumbai: The market staged spectacular performance on Friday as equity benchmarks saw the biggest one day gains for the first time since May 2014 led by index heavyweights like HDFC, Infosys, L&T and Reliance Industries. The rally was majorly driven by strong growth in US GDP in Q3CY14 and Japan's...
  • Global brands imbibing Indian values to boost luxury consumption October 30, 2014

    New Delhi: Luxury seems to have found a new address in India with emerging cities and small towns contributing to nearly half of country's Ultra HNH segment. In other words, Luxury brands are finding new patrons from small towns who have both money as well as taste. This is an...
  • Rupee drops to 2-week low vs US dollar after Fed sticks to low rates October 30, 2014

    Mumbai: Moving in opposite direction to stocks, the rupee on Thursday fell for the fourth day, dipping 10 paise to close at two-week low of 61.45 against the Greenback after US Federal Reserve kept in place its plans to maintain record low interest rate for some more time. While the Fed's...
  • Rupee up 7 paise against dollar in early trade October 29, 2014

    Mumbai: The rupee strengthened by seven paise to 61.25 against the dollar in early trade on at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks. Besides, the dollar's weakness against other currencies overseas as investors await news from the US Federal Reserve about interest...
  • Sensex soars 217 points to five-wk high ahead of Fed meet outcome October 29, 2014

    Mumbai: The benchmark Sensex on Wednesday surged 217 points to end at five-week high of 27,098.17 powered by gains in interest rate sensitive stocks, tracking rally in global markets ahead of the outcome of US Federal Reserve's policy meeting. Besides, hopes of further economic reforms by Modi government, rising rate cut...
  • RSS top brass meets Union Ministers to discuss economic issues October 28, 2014

    New Delhi: Some Union ministers met leaders from RSS and its affiliates in New Delhi on Tuesday. Discussion was primarily on the economic issues. The RSS leaders Suresh Soni, Krishna Gopal, Dattatreya Hosabale and Bajranglal Gupta were present in the meeting. From BJP Murlidhar Rao, Ram Madhav and Purshottam Rupala...
  • Rupee slips 2 paise Vs dollar, ends at 61.32 in dull trade October 28, 2014

    Mumbai: The rupee on Tuesday slipped further by two paise to close at 61.32 against the US dollar due to some demand for the American unit in a lacklustre trade. There was some dollar demand from importers, mainly oil refiners, as brent crude for December delivery was trading low near USD...
  • Rupee up 8 paise against dollar in early trade October 27, 2014

    Mumbai: Maintaining its gaining streak for the fifth straight day, the rupee appreciated by eight paise to 61.19 against the US dollar in early trade at the Interbank Foreign Exchange on Monday on increased capital inflows amidst selling of the American currency by exporters. Besides, strengthening of the euro against the...
  • Leftist Dilma Rousseff narrowly wins second term in Brazil October 27, 2014

    Sao Paulo: Brazil's leftist President Dilma Rousseff narrowly won re-election on Sunday after convincing voters that her party's strong record of reducing poverty over the last 12 years was more important than a recent economic slump. After one of the closest, most divisive campaigns in Brazil in decades, Rousseff won 51.6...
  • Bottlenecks need to be cleared to woo private investments: Arvind Subramanian October 24, 2014

    Washington: Acknowledging that private investment is stifled in India due to "lots of regulations" and also scarcity of coal and electricity, new Chief Economic Adviser Arvind Subramanian has said that removing these bottlenecks will be key to kick start growth in the country. "The Indian economy needs a couple of...
  • Mahurat Trading: Nifty breaches 8000, Sensex firm on Diwali October 23, 2014

    Mumbai: The market starts auspicious Mahurat trading session with smart gains. It also marks the beginning of Samavat 2071. The Nifty opened at 8029 up 21 points while the Sensex is up 68.91 points at 26856.14. US stocks erased earlier gains to close lower on Wednesday as a shooting at...
  • Muhurat trade at BSE this Diwali could bring good news for the economy October 23, 2014

    Mumbai: Muhurat trade at the Bombay Stock Exchange this Diwali could bring good news for the economy. Both Sensex and Nifty have risen 26 per cent in the last one year, while Midcap index has risen 30 per cent. A lakh invested in Gati last year has yielded five lakh today...
  • Nifty gains for 3rd day, ends above 7900; Wipro surges 3 pc October 21, 2014

    Mumbai: The market rallied for the third consecutive session on Tuesday with the benchmark Nifty closing above the 7900 level supported by banks, metals, auto and capital goods stocks. The 30-share BSE Sensex rose 145.80 points to close at 26575.65 and the 50-share NSE Nifty climbed 48.35 points...
  • Rupee gains 5 paise vs dollar, ends at over 1-week high of 61.31 October 21, 2014

    Mumbai: The Indian rupee gained for the third session on Tuesday, surging by another five paise against US dollar to end at over one-week high of 61.31 on sustained selling of the greenback by banks and exporters in view of strong equity market and capital inflows. The domestic unit resumed...
  • Rupee gains for second day; election results cheer October 20, 2014

    Mumbai: The rupee gained for a second consecutive session on Monday after the BJP's success in two state elections and the government's removal of diesel subsidies and a hike in natural gas prices sparked hopes for additional reforms. The government lifted diesel price controls and raised the cost of natural gas...
  • Sensex soars over 321 points to end at 26429.85; Nifty at 7879.40 October 20, 2014

    Mumbai: The BSE Sensex and Nifty rose more than 1 per cent on Monday to mark their biggest daily gain in more than one week after the government's energy reforms led to a rally in oil firms, while wins by Bhartiya Janta Party in Maharashtra and Haryana assembly polls raised...
  • SBI says most of Hudhud-hit branches in Andhra now operational October 18, 2014

    Mumbai: State Bank of India said it has restored normal operations at almost all the 225 branches affected by the cyclone 'Hudhud' in Andhra Pradesh. "Of the 225 branches in the affected districts of Visakhapatnam, Vijaynagaram and Srikakulam, as many as 195 branches have been brought to normal as of...
  • Rupee snaps two-day fall, rebounds 39 paise Vs US dollar to end at 61.44 October 17, 2014

    Mumbai: Tracking a recovery in local shares, the Indian rupee on Friday snapped a two-day declining trend and bounced back by 39 paise to end at 61.44 against the Greenback on fresh dollar selling by exporters and some banks. At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced higher...
  • Rupee tumbles to over 7-month low, down 42 paise vs US dollar October 16, 2014

    Mumbai: Indian rupee on Thursday plummeted to 61.93 and closed 42 paise down at over seven-month low of 61.83 against the greenback on heavy capital outflows and a spike in demand for US dollars. The dollar index was up by a whopping 0.45 per cent against basket of six major...
  • MSMEs should get easier finance from banking system: BJP October 14, 2014

    New Delhi: Micro, Small and Medium Enterprises should get easier finance from the formal banking system, senior BJP leader Murali Manohar Joshi said on Tuesday. "Small and medium scale industries are doing 70 per cent production of the country. If they do not remain in good health, the country's economy...
  • Public sector still relevant to Indian economy: Hamid Ansari October 14, 2014

    New Delhi: Although it has seen "tremendous denigration" over the years, the public sector continues to be relevant to the Indian economy, Vice President Hamid Ansari said on Tuesday. "Unfortunately, over the years the Public Sector has seen tremendous denigration... We consciously opted for mixed economy (private and public sector)...
  • Rupee down 15 paise against dollar in early trade October 10, 2014

    Mumbai: The rupee fell by 15 paise to 61.20 against the dollar in early trade on Friday due to fresh demand for the US currency from banks and importers amid a weak opening in local equities. Dealers said besides increased demand for the American currency from importers, the dollar's strength against...
  • Sensex plunges 340 points October 10, 2014

    Mumbai: Equity benchmarks erased some gains seen in previous session. The Sensex fell 339.90 points or 1.28 per cent to 26297.38, and the Nifty lost 96.80 points or 1.22 per cent to 7863.75 as the markets closed on Friday. About 1012 shares have advanced, 1903 shares declined, and 112 shares are...
  • Xi Jinping's book on governance provides window to world about China October 9, 2014

    Beijing: Chinese President Xi Jinping has penned a book offering an insight to the world on governance in the world's most populous nation, becoming the first CPC leader in recent years to have written a book while in office. 'Xi Jinping: The Governance of China', which has been published in...
  • Fed minutes lift Sensex 390 points; BHEL up 8 pc, Infosys Q2 eyed October 9, 2014

    Mumbai: Bulls finally found their feet on Dalal Street on Thursday. Equity benchmarks snapped three-day losing streak due to broadbased rally triggered by Fed chair Janet Yellen and the US Federal Reserve. Benchmarks recouped all its losses seen in previous three sessions. The 30-share BSE Sensex surged 390.49 points or...