Experts believe that the Indian rupee might face additional pressure and fall against the US dollar in the coming trading sessions.
Data indication a strong recovery in the US economy is expected on Monday, which will raise concerns that the Federal Reserve might start rolling back its stimulus package soon. The Federal Reserve has indicated that it is aiming to roll back $85 billion-a-month bond buyback programme that may result in increase in demand for the dollar from the emerging markets.
Vodafone has urged Telecom Minister Kapil Sibal to make sure that new telecom norms don't prevent operators from holding a minor, non-voting stake in a rival firm as long as it doesn't hurt competition.
Currently, telecom operators can hold up to 10 per cent stake in rival operators. But, an internal committee of the Department of telecommunications (DoT) has proposed that operators shouldn't be allowed to hold any equity in a rival firm.
Indian jewellers are turning their focus to diamond jewellery in a bid to offset the government's clampdown on sales of gold.
Leading jewellery companies like Gitanjali Gems and Titan Industries are now aggressively promoting their diamond jewellery to make up for the losses they suffered due to decline in demand for gold jewellery.
Gitanjali Gems and Titan Industries are also expanding their reach in overseas markets like Dubai and Singapore as part of their efforts to boost sales.
Indian government's recent approval for a new pricing formula for domestic natural gas that will cause doubling of the current price for the fuel will be very positive for Niko as well as for India, Calgary-based oil & gas explorer's chief said.
The Cabinet Committee of Economic Affairs of India recently approved a new pricing formula that will push the price of domestic natural gas from current $4.20 per million British thermal units to around $8.40 per million British thermal units.
Consumer goods giant Unilever Plc has confirmed that it fell short of its plan to raise its stake in its Indian subsidiary Hindustan Unilever Limited (HUL) to 75 per cent.
The Anglo-Dutch consumer goods maker said shareholders of Hindustan Unilever tendered a total of 319.7 million shares to its open offer, allowing it to raise its stake in the Indian subsidiary from 52.48 per cent to 67.28 per cent.
The government has awarded a total of 14 coal blocks to state-run power companies, with the country's biggest power producer NTPC alone receiving four blocks.
According to a statement received by the coal ministry, the 14 allocated coal blocks have geological reserves of estimated 8,311 million tones. The statement also says that the blocks will yield around 159 million tones of coal per annum, capable of firing nearly 31,800 MW of power generation.
As part of his efforts to stimulate consumer demand and provide a much-needed boost to the sluggish economy, Union Finance Minister P Chidambaram on Wednesday urged state-owned lenders to lend money at lower interest rates.
Mr. Chidambaram has long been pushing banks to lower their lending rates, but most banks kept their rates almost stable in order to attract more deposits.
India's car industry continued to suffer decline in sales in June as higher fuel costs and tougher economic conditions forced people to defer their plans to buy a car.
All major manufacturers, with sole exceptions of Honda Cars India and Ford India, reported decline in their sales in June.
Maruti Suzuki, the country's biggest car maker, reported a year-on-year fall of 7.8 per cent in sales at 77,002 units in June.
The Telecom Commission, the uppermost decision-making body in the union telecom ministry, on Tuesday approved the proposal to allow full foreign control telecom firms.
A senior telecom official announced that the Telecom Commission cleared the proposal to hike foreign direct investment (FDI) limit in the sector to 100 per cent. Currently, foreign investors can own a maximum stake of 74 per cent in a telecom firm.
Indian auto giant Mahindra & Mahindra (M&M) is still learning to become smarter and self-sufficient, Mahindra's automotive & farm business president Pawan Goenka said.
In March this year, technical glitches in the Mahindra XUV500 forced the company to recall as many as 20,000 units of the vehicle. The recall was announced after a number of XUV500 owners reported problems in the vehicle's fluid hose, left wiper-blade cover and front power-window units.