Economy

  • Rupee up 5 paise against dollar in early trade December 31, 2013

    Mumbai: The rupee on Tuesday gained 5 paise to 61.86 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters. Forex dealers said strengthening of other currencies against the dollar overseas and a higher opening in the equity market also...
  • Sensex, Nifty gain; Bank Nifty strong, Sesa Sterlite up 3 pc December 30, 2013

    Mumbai: The market ended on a negative note. The Sensex ended down 50.57 points at 21143.01, and the Nifty closed 22.70 points lower at 6291.10. About 1362 shares advanced, 1138 shares declined, and 148 shares were unchanged. The Indian markets dip into the red after a positive opening. The Sensex is...
  • India to be world's 3rd largest economy by 2028 after China,US: Survey December 27, 2013

    India is likely to overtake Japan in 2028 to become the third largest economy in the world after China and United States, according to London-based economic consultancy Cebr. As per Cebr's World Economic League table report for 2013, India has lost a place in the league table in 2013 to Canada...
  • RBI Governor meets Chidambaram, discusses economic situation December 26, 2013

    "We exchanged our views on the current macroeconomic situation," Rajan told reporters after the meeting, which was also attended by Department of Economic Affairs Secretary Arvind Mayaram. Rajan had surprised the markets by leaving all key policy rates unchanged at the mid-quarter policy review on December 18, notwithstanding persistent high inflationary...
  • Sensex surges over 371 points to end at 21,079.72 December 20, 2013

    Mumbai: Shrugging off fears linked to a trimmed US stimulus, the Sensex on Friday shot up by 371.10 points - its best gain in nearly a month - on account of smart jump in RIL on government nod for higher gas prices and good buying in bluechips from banking, IT and auto...
  • Rupee rises 10 paise to close at 62.04 versus US dollar December 20, 2013

    Mumbai: The rupee slipped in the early trade today. It has opened lower by 27 paise at 62.39 per dollar versus 62.12 Thursday. The dollar index gains to 80.7 levels, while the euro is a tad subdued and the yen faces pressure in early trade ahead of the outcome of...
  • Despite economic slowdown, India's exports to US, Europe rise December 18, 2013

    Despite global economic slowdown, India's exports to the US and Europe have grown in the first seven months of the current fiscal year, government data showed Wednesday. "In the first seven months of current fiscal year, 2013-14 exports to Europe and the US have increased in comparison to the corresponding period...
  • Growth expected to improve in second half of 2013-14: RBI December 18, 2013

    The Reserve Bank on Wednesday said it expects economic growth to improve in the second half of this financial year on the back of expansion in the agriculture sector, exports and movement in stalled projects. Addressing a media conference, RBI Governor Raghuram Rajan said he would stick with the earlier 5...
  • November WPI inflation rises to 14-month high of 7.52 per cent December 16, 2013

    New Delhi: Costly vegetables, particularly potato and onion, pushed the November wholesale inflation to a 14-month high of 7.52 per cent, making it difficult for the Reserve Bank to ease key policy rate. Vegetable prices shot up by 95.25 per cent in November as compared to 78.38 per cent in the...
  • Sensex down 56 points to 2-weak low, WPI data raises rate hike risk December 16, 2013

    Mumbai: Falling for the fifth day in a row, the benchmark Sensex on Monday dropped by 56 points to end at over two-week low as November WPI inflation data cemented fears of a rate hike by the RBI in its policy review meeting this week. Oil & gas, auto and FMCG...
  • Sensex down 210 pts on RBI rate hike, US taper fears December 13, 2013

    Mumbai: Across-the-board selling today on mounting speculation that the RBI will hike interest rate and the US Fed will trim its economic stimulus next week shaved off over 210 points of benchmark Sensex, which posted its biggest weekly loss in five. Investor wealth fell by Rs 75,000 crore as overall 1,575...
  • Sensex falls 84 points to end at 21,171.41 December 11, 2013

    Mumbai: Sensex fell 84 points to end at 21,171.41 on Wednesday. The market fell further in early trade on Wednesday following weakness in global equities as investors are cautious ahead of Fed meeting and RBI policy next week. The Sensex slipped 101.18 points to 21,154.08, and the Nifty declined 29.50 points...
  • Sensex, Nifty hit record highs after BJP sweeps Assembly polls December 9, 2013

    Mumbai: The Sensex and Nifty on Monday surged to new lifetime highs on all-round buying after the BJP swept three out of 4 state polls and boosted hopes that a new government in 2014 general elections would be more business-friendly. The BSE Sensex ended at closing high of 21,326.42 with a...
  • Sensex gains for second week; lenders rise December 6, 2013

    Mumbai: The BSE Sensex and the Nifty rose on Friday to their highest close in more than a month, extending gains for a second consecutive session on hopes state elections results on Sunday will show strong support for the main opposition party ahead of general polls due next year. Blue chips...
  • Rupee closes higher by 34 paise or 0.55 per cent at 61.41 against US dollar December 6, 2013

    Mumbai: The rupee ruled firm for the third consecutive day and moved up 34 paise to 61.41 against the dollar on Friday, the highest level in more than five weeks, on sales of the US currency by banks and exporters amid foreign capital inflows into the local equity market. The rupee...
  • Rupee hits fresh 1-month high, up 30 paise vs dollar December 5, 2013

    Mumbai: The rupee on Thursday rose by 30 paise to trade at fresh one-month high of 61.75 against the dollar in early trade at the Interbank Foreign Exchange market on increased selling of the US currency by exporters, amid sustained foreign capital inflows. Strengthening of other currencies against the dollar overseas and...
  • Rupee closes at 62.36 vs US dollar, down 5 paise December 3, 2013

    Mumbai: The rupee on Tuesday closed by 10 paise to trade at 62.36 against the dollar in early trade at the Interbank Foreign Exchange market due to increased demand for the US currency from oil importers. Forex dealers said besides dollar's gains against euro and yen overseas after better-than-expected manufacturing...
  • Diesel price hiked by 50 paise per litre from Saturday midnight November 30, 2013

    New Delhi: Diesel prices have been hiked by 50 paisa per litre, excluding VAT, with effect from Saturday midnight. The prices of petrol, however, remains unchanged. The price increase, the 11th since January, excludes local sales tax or VAT, oil companies announced. The price of diesel in Delhi will be hiked...
  • GDP grows better than expected, 4.8 per cent in September quarter November 30, 2013

    An expansion in farm output and some infrastructure helped the economy recover slightly in the September quarter, but growth still hovered close to decade lows, tempering hopes of a sustained rebound ahead of elections due next year. September's figure of 4.8 per cent was the fourth successive quarter of economic growth...
  • Capital market, financial sector reforms on unveil, says P Chidambaram November 29, 2013

    Exuding confidence that growth rate will climb to 6 per cent next year, Finance Minister P Chidambaram on Friday said government will in next 6 months liberalise capital markets and financial sector to help economy return to high growth trajectory. Unveiling UPA government's agenda for the remaining six months of its...
  • Rupee opens at 62.40 vs US dollar, down 26 paise November 28, 2013

    Mumbai: The rupee on Wednesday weakened by 26 paise to 62.40 against the US dollar in early trade on the Interbank Foreign Exchange market due to appreciation of the greenback against other currencies overseas. Dealers attributed the rupee fall to dollar gains against other currencies overseas. The rupee had gained 36...
  • Rupee rises to 3-week high, up 36 paise at 62.14 vs dollar November 27, 2013

    Mumbai: The rupee climbed 36 paise to a three-week high of 62.14 against the dollar on Wednesday after banks and exporters sold the US currency as it weakened overseas. The rupee resumed higher at 62.45 per dollar from the previous close of 62.50 at the interbank foreign exchange market and firmed...
  • Sensex ends almost flat ahead of F&O expiry, GDP data November 27, 2013

    Mumbai: The benchmark Sensex today ended flat with a marginal 4.76-point drop as caution prevailed ahead of the expiry of November derivatives contracts on Thursday and GDP and fiscal deficit data due on Friday. Power, realty and IT stocks saw selling while consumer durables, FMCG and auto scrips witnessed buying, traders said. ...
  • Rupee falls most in a week, closes at 62.93 per dollar November 21, 2013

    The rupee faltered for a second consecutive day on Thursday to its lowest against the dollar in a week after Federal Reserve minutes hinted at stimulus tapering, sparking concerns about a renewed period of volatility in the currency. Data showing foreign institutional investors (FIIs) have slowed their purchases in domestic shares...
  • PSUs need more autonomy, freedom from bureaucratic control:PM November 21, 2013

    New Delhi: Pitching for public sector enterprises being made more competitive, Prime Minister Manmohan Singh on Thursday said the state-run companies need to be given greater functional autonomy, be freed from bureaucratic control and not shielded from private sector competition. "Going forward, our governments will have to increasingly adopt competition-neutral policies....
  • India a safe investment destination: FM to Indian diaspora November 21, 2013

    Singapore: Finance Minister P Chidambaram on Thursday assured the Indian diaspora community that their home country was a safe investment destination. He also assured stability of Indian rupee, saying it better reflected the true value after the RBI took urgent steps for managing the currency volatility. "We believe that the exchange...
  • Rupee opens weak at 62.90 vs $ against Wednesday's close of 62.58 November 21, 2013

    Mumbai: The Indian rupee slipped 32 paise in the early trade at 62.90 per dollar versus 62.58 Wednesday. Himanshu Arora, Religare said, "Dollar-rupee pair is expected to trade higher in Thursday's session amid weakness in equities and fresh month-end dollar demand from oil companies." "Further expectations of tapering by Fed...
  • India approves 20 FDI proposals worth $146 million November 20, 2013

    The Foreign Investment Promotion Board has approved 20 foreign direct investment proposals worth 9.16 billion rupees, a finance ministry statement said on Tuesday. The board also recommended private sector Federal Bank's foreign investment plan amounting to 14 billion rupees to the cabinet panel, the statement said. ...
  • Sensex rises 40 points to end at two-week high November 19, 2013

    Mumbai: In choppy trade, the benchmark Sensex on Tuesday climbed for the third straight day and ended 40.08 points higher at a nearly two-week high buoyed by gains in Infosys, SBI and Maruti Suzuki shares, amid sustained strength in the rupee against US dollar. After gaining 656 points in previous...
  • Rupee up 31 paise vs US dollar in early trade November 19, 2013

    Mumbai: Rising for the fourth straight day, the rupee gained 31 paise to 62.10 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange market on increased selling of the US currency by exporters. Strengthening of euro and yen against the dollar in overseas market and a higher...