Business

Forex traders said the weakening of the US dollar vis-a-vis other currencies overseas also supported the rupee.

This monthly compensation was to be paid within two months but states haven't received any such amount since August 2019.

According to data released by the statistics office on Thursday, consumer inflation spiked 5.54 percent in November on costlier food items, compared to 4.62 percent in the month of October.

A spike in crude oil prices and fears of further rise in retail inflation also capped the gains.

Highest financial disincentive of Rs 1.76 crore has been imposed on Vodafone Idea, which includes Rs 1.11 crore on account of call drop in Vodafone network and Rs 65 lakh on Idea, while minimum penalty of Rs 6.5 lakh was levied on Reliance Jio.

In a written reply, Union Heavy Industries Minister Prakash Javadekar said no closure of any automobile or ancillary manufacturing units has been reported in the past three years.

Passenger vehicles' production last month stood at 1,39,084 units as against 1,34,149 units in November 2018, an increase of 3.67 per cent.

The market capitalisation of TCS jumped Rs 26,360.5 crore to Rs 7,96,612.51 crore at close on Friday. Reliance Industries Limited, ICICI Bank, Kotak Mahindra Bank and Infosys were among the gainers.

Sushil Modi, who heads the Group of Ministers on GST revenue shortfall, said the economic slowdown, particularly the muted sales in the automobile sector, is leading to lower collections in the new indirect tax regime.

Aramco shares will sell on the Riyadh stock exchange at a starting prices of 32 riyals, putting the value of the company at USD 1.7 trillion, the sources said, making it the biggest company ever.

Vodafone Idea shares plunged 5.56 per cent to Rs 7.31 apiece on the BSE. The stock touched a low of Rs 7.01, down 9.43 per cent over the previous close.

So far, the government has given 'in-principal' approval for strategic disinvestment of 33 central public sector undertakings (CPSEs).

The stocks of Bharti Airtel and Vodafone Idea have rallied 19% and 53%, respectively, in the past one month. Most of the brokerage firms have also revised their outlook or targets for telecom stocks after the tariff hike.

From the top-10 list, only TCS and ITC suffered losses in their market capitalisation (m-cap) for the week closed on Friday.

PMI data for manufacturing and services sectors are scheduled to come this week which may also impact trading at the bourses.

The minister said the word that was given for bringing newer industries, which are moving out of China, is actively moving forward.