Business

The rupee rose by 11 paise to trade at 66.56 against the US dollar in early trade on Monday

Implementing the Goods and Services Tax (GST) could produce a short-lived pass-through impact on the inflation trajectory, the Reserve Bank of India (RBI) said on Tuesday.

The newly-constituted Monetary Policy Committee (MPC) headed by RBI Governor Urjit Patel is unlikely to lower rates at its maiden policy review on Tuesday as it awaits more supporting data on inflation, experts said.

The rupee recovered 16 paise to 66.69 against the US dollar in early trade today.

Stocks reeled under huge losses on Thursday as benchmark Sensex plunged sharply by over 465 points, the biggest single-day fall in three months, after India carried out "surgical strikes" last night on terror launchpads across LoC.

Market got off to a positive start despite weak Asian cues as the benchmark Sensex ebounded over 68 points today on value-buying in select blue-chip stocks.

India's richest pharmaceutical magnate, Dilip Shanghvi, remains at number 2 with a net worth of $16.9 billion.

Forex dealers said weakness in the dollar against other currencies overseas supported the rupee.

The rupee gained a paisa against the US currency to end at 66.95 in Thursday's trade despite weak macro-economic data.

The Supreme Court refused permission to Vedanta Group to export iron ore mined from Karnataka.

All sectoral indices led by auto, oil&gas and healthcare stocks were trading in the green, gaining up to 0.95 per cent.

Besides, fresh foreign fund inflows supported the rupee but strength in the dollar against some currencies overseas capped the gains, dealers said.

Sebi has eased restrictions on 201 entities against whom it had taken action in two different cases of alleged misuse of stock market platform for tax evasion.

The scrip, after a positive opening, gained 6.25% to Rs 57.80 on BSE. On NSE, shares of the company went up by 6.75% to Rs 57.70.

Tata Motors was the biggest gainer, up 1.5 percent ahead of quarterly earnings later today.

UK-based family office 3 Associates, whose $1.3 billion offer for Sahara's three prized overseas hotels was rejected by the group in July, has reportedly reduced the offer amount.