Business

The development follows the five major trade unions representing the workers of CIL deciding to go on a three-day strike from September 23.

Maharashtra Chief Minister Prithviraj Chavan launched the branch-on-wheel in the sugar hub of Kolhapur on Thursday.

The rupee gained 1.6 per cent to close at 66.01/02, versus 67.065/075 on Wednesday close.

Major gainers were Infosys, RIL, L&T, BHEL, Dr Reddy's, Hero MotoCorp, HUL, NTPC and Jindal Steel.

A strengthening dollar overseas and late weakness in local stocks also put pressure on the rupee, a forex dealer said.

This comes just a day after the Reserve Bank of India also downgraded growth forecast.

The court told the Bharti Cellular CMD and the Essar Group promoter that there was no stay on the proceedings in the case.

The due date has been extended in wake of 'unprecedented surge' in number of I-T returns being filed electronically.

A late recovery in local stocks and fag-end dollar selling by exporters also supported the currency.

The repo rate stands at 7.25 per cent while the reverse repo rate at 6.25 per cent.

In its last policy review announced on June 17, the RBI had left key rates unchanged.

While Anil has been summoned on August 22, Tina has been asked to appear before the court on August 23.

Air India is raising the fund for six-12 month period and plans repay the same after a sale and lease back of these planes.

Niel Mills is the third CEO for Chennai-based private carrier SpiceJet in the past five years.

The 30-share index started the day on a firm note and continued rising further and ended the day 519.86 points.

Nasscom said that neither a weak rupee is good for the economy nor a strong rupee as well. So there should be a balance.