CATEGORIES

Rupee hits new closing low, RBI intervention caps loss

The rupee fell to an all-time low on Thursday, pressured by a lingering depreciation bias and heightened demand for the US dollar in the non-deliverable forwards (NDF) market, while the intervention from the Reserve Bank of India helped prevent sharp losses.

NBFCs mop up over ₹10,000 cr via bonds

FUNDRAISING SPREE

Sebi board may widen UPSI scope, tighten SME rules

THE BOARD OF the Securities and Exchange Board of India (Sebi), in its meeting on December 18, is likely to approve a slew of measures, including tighter norms for small and medium enterprises (SME) listing, review of custodian and merchant banker regulations and expansion of the definition of unpublished price sensitive information (UPSI).

NBCC to be consultant for 16 projects of Supertech

INSOLVENCY APPELLATE TRIBUNAL NCLAT has appointed state-owned NBCC as a project management consultant to complete debt-ridden realty firm Supertech's 16 real estate projects at a cost of nearly ₹9,500 crore, a move that will provide relief to thousands of homebuyers.

Panel to flag bad loans

To improve the resolution process, banks have been instructed to closely monitor the top 20 NCLT cases at the MD level, with senior officials, not below the rank of GM, required to attend proceedings.

India needs $2.2-trn infra investment by 2030: Report

INDIA WILL REQUIRE an investment of $2.2 trillion for infrastructure development to become a $7-trillion economy by 2030, Knight Frank India said on Thursday, while stressing on the need of radical measures to encourage private participation in this area.

Makers of auto parts in a fix over EV switch

AUTO COMPONENT MANUFACTURERS, who were asked to set up factories by their clients to support the electric vehicle evolution, find themselves in a tough spot as automakers pivot back to traditional petrol and diesel engine technologies.

Samsung accuses CCI of illegal raid

\"THE ENTIRE SEARCH exercise undertaken is patently illegal and any material collected thereunder should not be relied upon and should be promptly returned,\" the Indian unit of Samsung Electronics wrote.

Switch Mobility drives in 2 e-buses

SWITCH MOBILITY—THE EV subsidiary of Ashok Leyland has introduced a new electric bus Switch EiV12, claimed to be India's first with chassis-mounted batteries, and having a scalable battery capacity of over 400 kWh.

Bluestone files papers for IPO

INTERNET FIRST JEWELLERY brand Bluestone has filed the draft documents for an initial public offer (IPO) with Sebi to raise funds through a combination of fresh issue and offer for sale.

Inflation eases sharply to 5.48% in Nov

THE DECLINE IN Indian inflation is when globally many economies have again started experiencing price pressures and China is looking at easing monetary policy through 2025 to simulate growth.

Realtors build hopes on new cities, more launches after tepid H1

EXPERTS SAY DEMAND HIGH, BUT PRICING KEY TO SALES

'Equity oil, rather than exploration, at core of overseas strategy now'

WE ARE LOOKING INTO COST OPTIMISATION, MAXIMISING PROFITS, AND IMPROVING PROJECT TIMELINES

Blinkit forays into quick food delivery market with Bistro

ZOMATO-OWNED BLINKIT is entering the quick food delivery space with its new offering Bistro, aiming to compete with Zepto Cafe and Swiggy's Bolt.

Zomato gets fresh ₹803-cr tax notice

FOOD DELIVERY MAJOR Zomato on Thursday said it has received a GST demand order of ₹401.7 crore for non-payment of the tax on delivery charges between October 29, 2019, and March 31, 2022.

Rebel Foods raises $210 mn in round led by Temasek

CLOUD KITCHEN OPERATOR

RIL, Rosneft ink mega $13-bn oil supply deal

● Russian oil major to supply 500K barrels of crude a day

Cabinet clears Bills for joint LS, Assembly polls

● To be tabled in Parliament in the ongoing session

Investment rate likely to rise to mid-30s in 5 years: Nageswaran

EXPRESSING OPTIMISM THAT private sector investments will continue to rise, chief economic adviser to the government V Anantha Nageswaran on Thursday said the gross fixed capital formation (GFCF) rate may rise from 30.8% now to mid-30s in the next five years, aiding India to grow at a sustainable rate when the world is going to be extraordinarily difficult.

India needs to boost reforms, says World Bank chief economist

WORLD BANK CHIEF economist Indermit Gill has urged India's policymakers to accelerate structural reforms, as changes needed to transition to a high-income country are not taking place quickly enough.

IIP growth rises to 3-month high of 3.5% in October

• Manufacturing, electricity, consumer durables fare better

Govt seeks Parliament nod for ₹44,143-crore extra spending

THE CENTRE ON Thursday sought Parliament approval for net additional expenditure of ₹44,143 crore for the current fiscal, out of gross additional spending of ₹87,763 crore in the first batch of supplementary demand for grants.

Safeguard duty on steel under consideration, says ministry

● Govt releases standards for green steel; product may get priority in public procurement

HDFC Bank's investment banking gets Sebi warning

MARKETS REGULATOR SECURITIES and Exchange Board of India (Sebi) has issued an administrative warning letter to HDFC Bank alleging non-compliance of some provisions related to its investment banking operations.

EY case puts spotlight on white-collar labour laws

Decades-old laws largely focused on blue-collar workers

Pushpa 2 hits ₹1,000-crore milestone at global BO

ALLU ARJUN'S PUSHPA 2: The film has hit the milestone of ₹1,000 crore at the global box office in just six days, making it the fastest Indian film to register the feat.

Why international stars are pulling out of Hockey India League en masse

THE NO-SHOW

US hotels welcome Indian tourists with chai, samosa

Post-Covid Boom

Rupee gains 2p to settle at 84.83

THE RUPEE GAINED 2 paise to close at 84.83 against the US dollar on Wednesday, a tad above its all-time low level, amid rising expectations of a shift in the Reserve Bank's monetary policy stance following the appointment of Sanjay Malhotra as the new governor.

MFs, pension funds must be active in corp bond market: Setty

STATE BANK OF India (SBI) chairman C S Setty on Wednesday called for active participation of mutual funds and pension funds in the corporate bond market.