Indian stocks on Friday notched up their best gain in three weeks with benchmark Sensex surging 267 points and Nifty jumping by 75.45 points to hit new highs powered by a spurt in shares of lenders after Kotak Mahindra-ING Vysya announced India's biggest banking merger.
The IRCTC is preparing a big-bang entry into the Indian e-commerce market in collaboration with a multinational or domestic e-tailer. It is in the process of inviting bids from private e-commerce players to sell merchandise on its website in return for a 7-8% commission.
Rising for the second day, Indian rupee on Friday strengthened 18 paise to end at 61.76 against the greenback on suspected selling of the US dollar by state-run banks on behalf of the RBI and a strong rally in local stocks.
GMR Male' International Airport Private Limited (GMIAL), a subsidiary of GMR Infrastructure Limited (GMR), has claimed $803 million (around Rs. 4,987 crore) from the Maldivian government for 'wrongfully' terminating the international airport contract in that country's capital.
India will spend 253 billion rupees ($4.1 billion) to tackle rampant theft of electricity by rolling out metering in cities and upgrading old distribution networks, the power ministry said late on Thursday.
Amid controversy over sanctioning a $1 billion loan (nearly Rs. 62,000 crore) to Adani Group, SBI said Thursday it had only signed a preliminary MoU and will disburse the money only after proper due diligence.