Business

Since mid-July, the RBI has taken steps to tighten cash conditions, which have failed to support the rupee.

The NSE Nifty that touched an intraday low of 5306.35 also managed to close above 5400 level at 5401.45, down 13.30 points from previous close.

Infosys rose 2.6 per cent, while ICICI Bank ended 2.9 per cent higher.

The Companies Bill, which will replace the nearly 50-year-old Companies Act, was passed by Rajya Sabha by voice vote.

Rajan will replace D Subbarao, who completes his five-year term on September 4, and will be the 23rd Governor of the central bank.

Investors have started questioning the RBI Governor Duvvuri Subbarao's resolve to roll back measures to defend the rupee.

The telecom company said an increase in pricing power due to reduced competition helped to contain the profit decline.

One of the measures that is likely to be discussed is allowing stores to be opened in cities with a population less than 10 lakh.

SpiceJet has a market share of about 20 per cent compared with its main competitor IndiGo's 30 per cent.

The Sensex has lost 401.66 points, or 2 per cent, in the past week.

Subbarao's five-year term as RBI chief comes to an end in September.

The CBI in its plea said that the Anil Ambani's testimony is needed to explain why Reliance invested over Rs 900 crore in Swan Telecom.

Prime Minister Manmohan Singh eased FDI rules late on Tuesday for several industries, including insurance and telecoms

The TCIL had been charged with delay in filing the shareholding details under the Sebi's Takeover Regulations for 2009 and 2010.

The rupee gained modestly on Wednesday as the government eased rules for foreign investment,

The RBI announced tightening of liquidity and making it costlier for banks to access funds from the central bank.