The Telegraph
Wednesday , September 14 , 2011
 
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Business Briefs

Rupee value

Mumbai, Sept. 13: The rupee extended its losses for the seventh straight session and tumbled by 37 paise to close at a nearly 16-month low of 47.60 against the US currency on persistent dollar demand from importers and banks. Dealers said heavy dollar demand from importers and some banks on expectations of a further rise in the American unit amid late weakness in local stocks weighed on the rupee.

Harshad assets

New Delhi, Sept. 13: The SBI, the income tax department, SBI Caps and Standard Chartered will get Rs 650 crore from the liquidated assets of Harshad Mehta entities, a Mumbai special court order said.

Cairn board

Mumbai, Sept. 13: Cairn India’s board may tomorrow concede to pay royalty and cess on its mainstay Rajasthan oilfields to clear its over $6-billion stake sale to Vedanta Resources.

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