Business

The approval comes less than three months after the announcement of the mega deal, which is also being opposed by various trader organisations.

The deficit in the current account stood at USD 28.3 billion in the January-June period, down from USD 34.1 billion in the first quarter.

Petrol price in Delhi was on Tuesday hiked by 9 paisa a litre to Rs 77.06 while diesel rates went up by 6 paisa to Rs 68.50 per litre, according to daily price notification issued by state-owned oil firms.

According to the airline, the ongoing talks with employees, including pilots, is in line with its stated focus of creating a "healthier and a more resilient business".

The dollar's gains against other currencies overseas on worries over escalating trade tensions between the US and China, also impacted the rupee sentiment.

The Audit Committee of the bank had instituted an independent enquiry, headed by former Supreme Court Judge B N Srikrishna, to probe various allegations against Chanda Kochhar.

The RBI projected a gross domestic product (GDP) expansion rate of 7.4 per cent in 2018-19 on the back of robust macroeconomic environment.

As per the proposal, the debt-laden bank will issue preferential shares to Life Insurance Corporation (LIC) to raise capital.

Although modest, the latest improvement in the health of the manufacturing sector was the second-strongest after June.

Major losers were HDFC, Vedanta, Tata Steel, ICICI Bank, ITC, Tata Motors, Wipro, Kotak Bank, TCS, HDFC Bank, Infosys, SBI and Coal India, falling up to 1.14 per cent.

Iran is using its own ships to transport oil to India as not many shipping lines participated in recent tenders for transportation of Iranian oil, sources said.

Analysts said strong liquidity in the market following unabated buying by domestic institutional investors (DIIs) and encouraging Q1 earnings by some companies lifted the mood.

The Centre stated that the GST cut will mean a hit of Rs.6.3K Crores Revenue as these changes come into effect from 27th July 2018, this week.

The Department of Telecom gave conditional nod for merger of these companies on July 9 and asked companies to meet the demand raised for taking merger on record.

The 30-share index was trading higher by 114.10 points, or 0.31 per cent, at 36,610.47. All the sectoral indices, led by FMCG, consumer durables and power stocks were trading in the positive zone, rising up to 1.21 per cent.

The Bengaluru-based company has already been ramping local hiring in key markets like the US to tackle increasing scrutiny around work visas by various governments.