Alibaba.com Ltd, Hong Kong-listed unit of China's Alibaba Group, said today that 83.8% of its shareholders have approved a $2.5 billion buyout offer by the parent to take the company private, in a decision that was widely expected.
After rising over 140 points intra-day, the BSE benchmark Sensex today finally closed with a meagre gain of 30 points amid hectic selling in the last hour of trade triggered by the rupee moving towards its record lows against the dollar.
Boosted by the smart results, shares of the Anil Ambani Group company opened the day on a positive note and further gained 7% to Rs. 311.35 on the BSE.
The rupee continued its downward spiral today and breached the record low of the 55 mark against the American dollar, according to reports.
Snapping a three-day gaining streak, the BSE benchmark Sensex today dropped by 157 points after investors became jittery with rupee slumping to a new record low amid fund outflows.
Paring all losses of the previous trading session, the rupee today recovered by 17 paise to 54.86 against the US dollar on the Interbank Foreign Exchange market in early trade, following measures taken by RBI to curb the local currency's fall.
The rupee hit a record low to the US dollar for the fifth straight session today, weighed down by large dollar demand from oil firms and weak global risk sentiment, especially after Fitch downgraded Japan's ratings.
The BSE benchmark Sensex today extended losses for the second straight session and lost over 84 points in early trade, due to a falling rupee and weakening trend on other Asian bourses.
Falling for the sixth straight day, the rupee plunged to a new low of 56.20 against the dollar on Wednesday on the back of strong demand for the American currency from importers, before recovering slightly to close at 56.00. HT reports. Dollar dreams, rupee nightmares | Rupee continues its free fall 
The government today raised the petrol price by Rs. 7.50 per litre effective from midnight.
BJP on Wednesday flayed the steep hike of
Rs. 7.5 per litre in petrol price terming it as "unreasonable" which will make the life of the common man "miserable".
Diesel to cost Rs. 4/litre more, LPG minus subsidy will be Rs. 800; no change in kerosene price
The BSE benchmark Sensex today regained the psychological 16,000-point level and closed higher by 274 points, its biggest single-session gain since March 30, as stocks of oil and banking sectors led gains amid a recovery in the rupee from its record lows.
Continuing its slide against the US dollar for the seventh day in a row, the rupee hit new record low of 56.38 today amid firm demand for the American currency from importers and continued capital outflows in view of Greece's debt crisis.
After hitting a record low of
Rs. 56.38 against the US dollar during the day, the rupee recovered 14 paise from yesterday's closing level of 56 in the late afternoon trade.