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HindustanTimes Sat,26 Jul 2014

Business

Rupee down 5 paise against dollar in early trade

The rupee fell marginally by five paise to 60.17 against the US dollar in early trade on Friday at the Interbank Foreign Exchange due to appreciation of the American currency overseas amid lower opening in the domestic equity market.

Sensex, Nifty fall from life-time highs; 1st drop in nine days

The BSE benchmark Sensex was down 0.77% and the broader Nifty fell 0.79% after both indexes hit record highs in earlier in the session on Friday.

Wipro shares tank 8.5%, Q1 earnings lag estimates

Shares of IT services major Wipro plunged as much as 8.5% in morning trade on Friday after the company's June quarter earnings missed expectations. Wipro's scrip tumbled 8.46% to Rs. 528 on the BSE.

Wipro net profit rises 30% in Q1, but lags estimates

India’s third-largest IT services company, Wipro, on Thursday reported a 30% year-on-year rise in net profit to Rs. 2,100 crore during the April-June quarter but fell slightly short of analysts’ estimates of Rs. 2,124 crore.

Govt to go ahead with Rs. 18,000-cr ONGC stake sale in reforms push

Setting aside the objections raised by the state-owned Oil and Natural gas Corp (ONGC) on government’s plans to disinvest 5% of its stake in the company, the finance ministry has decided to go ahead with a stake sale in the country’s largest profit-making public sector undertaking.

Alstom faces UK bribery charge for India project

Following months of investigations that included interaction with India’s Central Bureau of Investigation, Britain’s Serious Fraud Office (SFO) on Thursday initiated criminal proceedings against Alstom Network UK Ltd on charges of bribery.

Rs 36,000 cr worth of power projects stuck for coal

Power projects worth around Rs. 36,150 crore and a generation capacity of 7,230 MW are stranded due to coal shortage, Piyush Goyal, minister for coal, power and renewable energy, said in the Lok Sabha on Thursday.

Single Window: Microsoft to unite OS for all platforms

Microsoft is doing away with multiple operating softwares for its multiple devices. Now, there will be be just one Windows for all platforms — phone, PC, tablet and even Xbox.

Retro tax knot tough to untie: FM

Finance minister Arun Jaitley on Thursday said blamed the UPA government’s adversarial tax policies for hurting India’s image as an investment destination.

Cabinet clears bill to empower Sebi to deal with ponzi schemes

The Narendra Modi-led Cabinet Committee on Economic Affairs on Thursday approved the bill to empower market watchdog Securities and Exchange Board of India (Sebi) to crack down on ponzi schemes and investment frauds.

India willing to stall WTO deal to ensure food security for all

India will not support the World Trade Organisation’s (WTO’s) 'trade facilitation agreement' (TFA) if the deal doesn’t come bundled with a permanent solution that will allow unhindered roll-out of welfare schemes such as the food security programme.

Way to go: World Bank chief bats for Gujarat model all across India

India will be a far easier place to do business if the country adopted the practices and processes that Gujarat follows, World Bank said on Wednesday, in what could be seen a thumbs up for Prime Minister Narendra Modi’s much-touted Gujarat model of governance.

FII investment limit in G-secs raised by $5 bn

The Reserve Bank on Wednesday said the FII limit for investment in government securities has been increased by USD 5 billion within the total cap of USD 30 billion.

Rupee rises 15 paise vs dollar to end at over 1-week high

The rupee on Wednesday appreciated by 15 paise to close at over one-week high of 60.09 against the American unit following bullish local equities and sustained capital inflows, extending gains for the second straight day.

RIL wants higher price for gas, upset with $8.4/unit

Mukesh Ambani-led Reliance Industries Ltd (RIL) has told the petroleum ministry that the new price of $8.4 a unit for gas is not the right price and was 'well below the arm’s length price.'
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