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Business highlights

·5-min read

New Delhi, Mar 19 (PTI) Following are the top business stories at 1930 hours: DEL28 BIZ-LD STOCKS Sensex snaps 5-session selloff, climbs 642 pts Mumbai: Equity benchmarks Sensex and Nifty regained footing on Friday after five days of losses as investors snapped up RIL, FMCG and IT stocks even as global markets tumbled amid concerns over rising US Treasury yields. PAR14 LS-2NDLD MINES Lok Sabha passes bill to amend MMDR Act New Delhi: Seeking to bring more reforms in the mining sector, Lok Sabha on Friday passed a bill to amend the Mines and Minerals (Development and Regulation) Act and Union minister Pralhad Joshi asserted that even if the Centre auctions a mine, all the revenue will go to states concerned.

DEL32 BIZ-LD-RUPEE Rupee closes flat at 72.52 against dollar on strong dollar Mumbai: The rupee ended on a flat note against the US dollar on Friday as a stronger dollar offset gains from weak crude oil prices and FII inflows. DEL19 BIZ-GOLD-PRICES Gold gains Rs 168; silver declines Rs 135 New Delhi: Gold in the national capital on Friday gained Rs 168 to Rs 44,580 per 10 gram supported by recovery in global precious metal prices, according to HDFC Securities.

PAR5 LS-DFI Govt to introduce DFI Bill in Lok Sabha next week New Delhi: The government will next week introduce in the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 in Lok Sabha to pave way for setting up of a government-owned DFI to fund infra projects.

PAR4 RS-HUNGER-TOMAR Govt flagged concerns with Welthungerhilfe on accuracy of data on India's hunger level: Tomar New Delhi: The government has flagged its concerns with German organisation Welthungerhilfe on 'appropriateness, accuracy and representativeness of data' used to calculate the level of hunger in India, Agriculture Minister Narendra Singh Tomar informed Parliament on Friday.

DCM42 BIZ-TCS-SALARY HIKE TCS to roll out salary hike for FY22; move to benefit all employees New Delhi: Tata Consultancy Services (TCS) will hand out across-the-board salary increments for 2021-22, becoming the first IT services company to do so.

DCM15 BIZ-SERUM-UK-VACCINE Will try to supply more doses of COVID-19 vaccine to UK later: Serum Institute New Delhi: Serum Institute of India (SII) has said it will try to supply more doses of Oxford-AstraZeneca COVID-19 vaccine to the United Kingdom later, based on the current situation and requirement for the government immunisation programme in India.

DCM28 BIZ-TATACOMM-GOVT-EXIT Govt sells 10 pc stake to exit Tata Communications New Delhi: The government on Friday said it has exited Tata Communications after selling 10 per cent stake to Tata Sons' arm Panatone Finvest in an off-market trade.

DEL34 BIZ-NFSA-DELHI Delhi govt not allowed to use NFSA grains for launching state-specific scheme: Centre New Delhi: The Union Food Ministry on Friday took strong objection to the Delhi government's proposed new scheme on 'door step delivery of ration' using subsidised foodgrains provided under the National Food Security Act (NFSA), saying this is not allowed under the law.

DCM48 BIZ FDI-NRI Investment by NRIs on non-repatriation basis in Indian firm will be treated as domestic: DPIIT New Delhi: Investment by non-resident Indians (NRIs) on non-repatriation basis in an Indian company will be treated as domestic investment for the purpose of calculating indirect overseas inflows, according to a DPIIT press note.

DCM46 BIZ-COMPANIES-SALARIES Loss-making cos can now pay remuneration to non-executive directors New Delhi: Loss-making companies can now pay remuneration to their non-executive directors, including independent directors, with the government amending existing rules.

DCM45 BIZ-RBI-BOARD MEET RBI Board reviews economic situation, challenges Mumbai: The Central Board of Directors of Reserve Bank of India reviewed the current economic situation, global and domestic challenges, the central bank said in a statement on Friday.

DCM39 BIZ-RBI-FOREX RESERVES Forex reserves rise by USD 1.739 bn to USD 582.037 bn Mumbai: The country's foreign exchange reserves increased by USD 1.739 billion to USD 582.037 billion in the week ended on March 12, the RBI data showed.

DCM22 BIZ-RETAIL-INFLATION Retail inflation for farm, rural workers up in February New Delhi: Retail inflation for farm workers and rural labourers rose to 2.67 per cent and 2.76 per cent in February against 2.17 per cent and 2.35 per cent respectively in January, 2021.

DCM19 BIZ-FUTURE-AMAZON Delhi HC judgement would have not come in way of NCLT proceedings, says Future Group New Delhi: Kishore Biyani-led Future Retail on Friday said the order passed by the single-member bench of the Delhi High Court would have no impact on the NCLT proceedings for its Rs 24,713 crore deal with Reliance Industries and said it is considering 'appropriate remedies' against it.

DCM9 BIZ-CAIRN-ARBITRATION-APPEAL India has till mid-April to appeal against Cairn award; challenge only on limited grounds New Delhi: India has time till mid-April to file an appeal against an international arbitration tribunal ordering it to repay UK's Cairn Energy Plc USD 1.2 billion-plus interest and cost, but the challenge can only be on limited grounds such as procedure not being followed. PTI SHW SHW