The Telegraph
Since 1st March, 1999
Email This PagePrint This Page
Business Briefs

Rupee scales new peak

Mumbai, Dec. 18: Despite dollar-buying intervention by state-owned banks, the rupee continued to strengthen against the US currency today, closing once again at a new high for the current calendar year at Rs 48.1225/1275 per dollar on the back of heavy dollar sales. The rupee gained by nearly 1-1/2 paisa from Tuesday’s record finish of Rs 48.1350/1400 after dipping to early intra-day lows of Rs 48.1550/1650 due to dollar-demand from state-run banks. It opened steady at Rs 48.1350/1400.

Sun Pharma

Mumbai, Dec. 18: The Reserve Bank of India today notified that foreign institutional investors can now purchase shares and convertible debentures of Sun Pharmaceutical Industries Ltd up to 49 per cent of its paid up capital.

IOC plan

Colombo, Dec. 18: Indian Oil (IOC) plans to invest $ 100 million in Sri Lanka’s energy sector in partnership with Ceylon Petroleum (CP). IOC will seal a deal with CP within a week to lease an oil storage tank farm in Trincomalee.

I-flex centre

Mumbai, Dec. 18: I-flex has set-up a overseas software development centre at Singapore to cater to growing business requirements in Asia-Pacific region.

Sebi move

Mumbai, Dec. 18: Sebi today said the stock exchanges are permitted to determine mode of adjustment in the derivatives contract for corporate action like dividend and bonus payment.

Hughes office

Bangalore, Dec. 18: Hughes Software Systems would shortly open its office in Japan which is expected to contribute 20 per cent of its revenues in three years.

Wheat prices

New Delhi, Dec. 18: In a bid to dispose of the lustre-lost wheat stocks at the earliest, the government has slashed the ex-granary domestic prices for the segment by Rs 30 per quintal to Rs 580 per quintal.

Crude output

New Delhi, Dec. 18: The country’s crude oil production has increase to 2.742 million tonnes in November against 2.723 million tonnes produced in the same month last year.

Email This PagePrint This Page