The Telegraph
Since 1st March, 1999
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Business Briefs

Rupee falls from peak

Mumbai, Dec. 12: The rupee weakened against the US currency today on renewed heavy dollar demand from banks, particularly state-run units, but ended off early lows, supported by strong dollar supplies from exporters and non-resident Indian (NRI) remittances. The rupee closed at Rs 48.1850/1950 per dollar, a three paise decline from yesterday’s record peak of Rs 48.1500/1550, but a sharp rally from early intra-day lows of Rs 48.2350/2450. It opened soft at Rs 48.18/19 per dollar.

CSE scam

Calcutta, Dec. 12: A city court today rejected the bail plea of former president of CSE Dinesh Kumar Singhania and extended his police custody till December 16 for alleged involvement in defrauding Stock Holding Corporation of India Limited of Rs 24.50 crore.

Ulip bonus

Mumbai, Dec. 12: Unit Trust of India (UTI) has announced a bonus of 1:10 units (Rs 10 each) for its Unit Linked Insurance Plan (Ulip) 1971.

Steel export

New Delhi, Dec. 12: Steel exports have registered a growth of 15.8 per cent during April-November of the current fiscal, while production of pig iron has witnessed a higher growth of 24.5 per cent.

Hind Copper

New Delhi, Dec. 12: The Parliamentary Standing Committee on Industry has recommended comprehensive overhaul of loss-making Hindustan Copper Limited.

Fertiliser units

New Delhi, Dec. 12: The government today ruled out any rethinking on closure of loss-making Hindustan Fertiliser and Fertiliser Corporation units in the eastern sector.

Cellular users

New Delhi, Dec. 12: The country’s cellular subscriber base has added 7.53 lakh subscribers in November to touch 97.30 lakh with the new GSM entrant Bharat Sanchar Nigam notching a subscriber base of 3.55 lakh.

Wheat price

New Delhi, Dec. 12: The Commission on Agricultural Cost and Prices has suggested a Rs 10 per quintal drought relief, while recommending that the MSP for wheat be retained at last year’s level of Rs 620 per quintal.

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