Business

The Centre expects the rupee, which has breached the 70-mark against the dollar, to soon stabilise at around 68-69 levels as the fundamental demand-supply position of the currency remains unaltered on account of stable oil prices and positive interest among foreign investors.

The government is planning a separate legislation for registered valuers who can help to arrive at a better valuation of bankrupt companies under the insolvency process, a senior government official said on Saturday.

The board of state-run Air India met on Friday to consider the airline's serious financial difficulties, which include pending flying allowances to pilots.

The board of directors of Jet Airways will meet on August 27 to consider and approve the unaudited financial results for the quarter ended June 30. The new date comes 18 days after the airline had decided to defer the results.

India is keen to change the rules of origin clauses in free trade pacts, including the South Asian Free Trade Agreement, to give its industry greater protection from Chinese goods routed through other countries using the trade deals.

Damodar Valley Corporation (DVC) plans to set up a 1500MW pumped storage at an estimated investment of Rs 5,200 crore in Jharkhand. The company will soon float a tender inviting bids for a detailed project report.

The aggregate fiscal deficit of states is likely to moderate to 2.8 per cent of GDP, 20 basis points higher than the budgeted target, on the back of the states likely achieving a zero revenue balance to GDP ratio in 2018-19, said a report.

The trading week ended for investors on a good note on Friday with the Sensex soaring over 284 points even as the NSE Nifty settled at a fresh lifetime high following positive global cues amid gains in FMCG, metal and banking stocks.

State-owned GAIL India has sought shareholders' nod to amend the charter of the company to invest in start-ups, build solar power plants and set up battery charging stations for electric vehicles as it looks to diversify its portfolio beyond gas and petrochemicals.

The Securities and Exchange Board of India (Sebi) is understood to have alleged that three former top officials of the National Stock Exchange (NSE) failed to take preventive and curative measures in the co-location matter, which led to certain brokerages obtaining preferential access to the exchange's servers.