Business

Rupee Recovers 13 Paise Against Dollar in Early Trade

Mumbai: The rupee recovered from a 30-month low by rising 13 paise to 68.34 against the dollar at the Interbank Foreign Exchange in early trade today on fresh selling of the US currency by banks and exporters. Dealers said fresh selling of the American unit by exporters and banks supported the domestic currency but dollar’s strength against other currencies overseas, ... Read More »

Monsanto India Falls 4% as Competition Watchdog Orders Probe

Mumbai: Shares of agri-biotechnology major Monsanto India fell by 4 per cent today after fair trade regulator CCI ordered a detailed probe against its US-parent joint venture Mahyco Monsanto Biotech India Limited (MMBL). Finding prima-facie violation of competition law, CCI has ordered a detailed probe into alleged abuse of dominance by the Indian arm of the US-based genetically modified seed ... Read More »

Just Dial Extends Gain, Jumps Over 30% in Two Days

Shares of the internet search firm Just Dial jumped as much as 10 per cent on Thursday on top of yesterday’s 19 per cent gain. Including today’s gains, the stock has surged over 30 per cent in last two sessions. Gains in Just Dial shares follow an announcement of a buyback offer by the company. Under this buyback, the company ... Read More »

Sensex Rises Tracking Gains in Global Markets

Mumbai: India’s stock markets rose on Thursday, heading for their second straight day of gains, as stabilising crude oil prices lifted mining and energy firms, while stronger Asian stocks boosted investor appetite for riskier assets. Asian stocks rose across the board as crude oil steadied on hopes that big producers will cap output. Minutes from the US Federal Reserve also ... Read More »

Sensex Ends 267 Points Higher on Broad-Based Buying

3:30 p.m.: The Sensex ended 267 points higher at 23,649 and the 50-share Nifty closed 83 points higher at 7,192. 3:12 p.m.: Pharma index was the top sectoral gainer, up 2 per cent. Dr Reddy’s Labs, Lupin, Cadila Healthcare, Piramal Enterprises, Sun Pharma and Cipla were among the top gainers from this space, up 1-5 per cent each. 2:41 p.m.: The ... Read More »

Sensex Rises Over 250 Points, Nifty Settles Above 7,150

The Sensex and Nifty rose for the second straight day on Thursday on the back of broad-based buying. Asian stocks rose across the board as crude oil steadied on hopes that big producers will cap output. Minutes from the US Federal Reserve also showed policymakers were divided over how to interpret the financial market volatility, suggesting it was backing away ... Read More »

MFs Bullish on IT Stocks; Exposure at Record High of Rs 43,000 Cr

New Delhi: Mutual Funds remain bullish on software companies, raising their allocation to all time high of over Rs 43,115 crore last month in view of the weakening rupee, which increases IT exporters’ profitability. In comparison, equity fund managers’ deployment in software stocks was Rs 35,463 crore in January last year. Industry experts said that fund managers have been raising ... Read More »

UK Sinha Assumes Office, Begins New Term As Sebi Chairman

New Delhi: U K Sinha today began his new term as Chairman of capital markets regulator Sebi following his reappointment to this position by the government. Sinha, who became Chairman of the Securities and Exchange Board of India (Sebi) on February 18, 2011, was initially appointed for a three-year term and was later given a two-year extension. Days before his ... Read More »

Royal Enfield Sales Zoom 65% in January

New Delhi: Eicher Motors’ Royal Enfield on Monday reported a 65 per cent jump in total motorcycle sales at 47,710 units last month as against 28,927 units in January 2015. The Chennai-based two-wheeler maker said sales of models with engine capacity up to 350 cc stood at 44,234 units last month as against 25,799 units in January 2015 – a ... Read More »

Bajaj Auto Sales Up Nearly 2% in January

New Delhi: Bajaj Auto on Tuesday reported a 1.78 per cent increase in total sales at 2,93,939 units last month as against 2,88,746 units in January 2015. Motorcycle sales during the month grew 2.44 per cent to 2,52,988 units as against 2,46,955 units in the corresponding period a year ago, the company said in a filing to the BSE. Bajaj ... Read More »