Business

RBI Governor Raghuram Rajan is targeting to keep CPI inflation at 8 per cent in January 2015 and reduce it further to 6 per cent by 2016.

The Cabinet nod for the ONGC stake sale comes as the Petroleum Ministry too has consented to the stake sale. The government had last sold 5 per cent stake in ONGC in 2012 for Rs 14,000 crore.

The fate of the pound, which is also known as sterling and is one of the most tangible links of the union, will be front and center in any separation proceedings, as it has been during the campaign.

The rupee had closed 3 paise lower at 60.39 against the dollar in the previous session on Friday.

Chandrasekaran, who was appointed CEO and MD for five years on October 6, 2009, has been re-appointed for another five years, TCS said in a statement.

The discount is available only for online booking and for travel during the period of August 27-September 30.

Crores of rupees go down the drain due to the lack of consistency in the services provided by brokers.

The year of printing '2014' will be printed on the reverse of the banknote.

Meanwhile, consumer price inflation accelerated to a two-month high of 7.96 percent in July, driven up by surging prices for vegetables, fruit and milk.

Tata Motors, GAIL, Tata Steel, Bharti Airtel and Infosys are top gainers while Dr Reddy's Labs is loser in the Sensex.

Chairman Emeritus of Tata Sons Ratan Tata on Wednesday said he never considered politics in his life like his mentor JRD Tata and added that he was not cut-out for that.

The move is aimed at boosting the domestic industry, which imports up to 70 per cent of its military hardware.

At the Interbank Foreign Exchange (Forex) market, the domestic unit started strong at 60.90 a dollar from last Friday's close of 61.18.

"We hope the Modi Government will expedite the case," NSEL Investors Forum Chairman Sharad Saraf said.

Cigarette maker ITC fell 1.8 per cent, while HDFC Bank ended down 2.2 per cent.

Reliance's bid for the business follows the collapse last week of a plan by Jaiprakash and parent Jaiprakash Associates Ltd to sell two of the three plants for $1.6 billion to an Abu Dhabi-led consortium.