Business

Confederation of Indian Industry (CII) President Shobana Kamineni on Sunday said the elevation of new cabinet ministers and induction of new ministers with independent charge in crucial infrastructure sectors is designed towards implementation and achieve...

Despite India being the world's third largest producer of steel, it still is dependent on imports for some products and "there is dire need to develop technologies to produce electrical grade and auto grade steel in India to become self-sufficient.

The rupee's weakness against the dollar was in line with global trend where the greenback rose against global currencies on better-than-expected US growth data.

In its final findings, the directorate general of anti-dumping and allied duties (DGAD) has recommended the duty on imports of "colour coated/prepainted flat products of alloy or non-alloy steel" from China and EU.

In its representation to NPPA, MTaI said it has requested the regulator to reconsider the decision of imposing price ceiling as it had not considered appropriate categorisation of the implants while fixing the prices.

The BSE 30-share barometer rebounded by 193.39 points, or 0.61 per cent, to 31,581.78. The gauge had lost 362.43 points in the previous session in line with a general weakness across the globe fuelled by North Korea's missile launch over Japan.

Forex dealers said month-end demand for the US currency from importers and a lower opening in the domestic equity market put pressure on the rupee.

The 30-share index was trading higher by 218.19 points, or 0.70 per cent, to 31,477.04 with the sectoral indices led by oil & gas, metal, IT, consumer durables, teck, PSU, healthcare and auto leading the recovery.

The development is being seen as a continuation of the fallout of the bitter fight between Mistry and Tata Sons after the former's ouster last year.

After a week of market jitters from increasingly aggressive exchanges between the nuclear-armed nations, investors were emboldened after South Korea's president said resolving North Korea's nuclear ambitions must be done peacefully.

According to the rating agency, the demand for MCE grew by over 35 percent during CY2016, overcoming four consecutive years of weak demand, giving a boost to the sector which is likely to grow by 13-17 percent in 2017.

The rupee had lost 21 paise versus the dollar to end at 63.84 in the previous session.

In October last year, the Cabinet Committee on Economic Affairs (CCEA) had given its in-principle approval for strategic disinvestment of profit-making Pawan Hans.

Forex dealers said apart from the dollar's gains against some other currencies overseas, a lower opening in the domestic equity markets weighed on the rupee.

Metal counters, including Hindustan Alumium, Nalco and Vedanta, witnessed intense buying, rising up to 6.17 per cent. Besides, auto, capital goods, teck, healthcare, IT and realty stocks were among the big gainers.

The rupee weakened 14 paise to 63.72 against the US dollar in early trade at the Interbank Foreign Exchange on Monday.