Business

The retail inflation or consumer price index based- inflation inched up to a seven-month high of 3.58 per cent in October from 3.28 per cent in September.

Finance Minister Arun Jaitley on Friday said that the two structural reforms -- GST and demonetisation -- will benefit the economy in the medium and long-term.

With virtual currency gaining traction among investors, Finance Minister Arun Jaitley on Thursday said India does not recognise crypto currency as legal tender.

The deficit was 79.3 percent of the full-year target during the same period a year ago.

The 30-share flagship index was down 185.24 points, or 0.55 percent, at 33,417.52 with sectoral indices led by realty and power falling up to 0.88 percent.

International rating agency Moody's said the earnings of Tata Steel will increase significantly due to newly-added capacity, and the same will remain steady for JSW Steel.

The NSE Nifty was up 21.65 points, or 0.20 per cent, at 10,391.90. Brokers said a fresh spell of buying triggered by a mixed trend in some other Asian bourses following overnight gains in the US markets buoyed the sentiment.

Dealers attributed the rupee's fall to increased demand for the US currency from importers and banks and a lower opening in the domestic equity market.

Billed as the world's biggest metro rail project in public private partnership (PPP), it was taken up in 2012 at a cost of Rs 14,132 crore. The cost escalation is to the tune of over Rs 4,600 crore.

Both deposit and lending rates probably have bottomed out and further tinkering in rates by banks unlikely in the immediate future, said HDFC Bank Deputy Managing Director Paresh Sukthankar.

Together state-run refiners processed 6.52 percent more oil in October than a year ago, while private refiners used about 13 percent more crude, the data showed.

The Ordinance aims at putting in place safeguards to prevent unscrupulous, undesirable persons from misusing or vitiating the provisions of the Code.

The "disinvestment of Air India and its subsidiaries has commenced and the transaction advisor, legal advisor and asset valuer are in the process of being appointed", as per the communication dated November 18.

According to the rating agency, growth will "rebound strongly in 2018 because the supply chain disruptions of 2017 will end soon".

The transaction volume at all points of sale (POSes) clipped higher by 86 per cent to 378 million in September this year over the same period last year when it stood at 203 million.

In August, the RBI had paid a dividend of Rs 30,659 crore for the fiscal ended June 2017. The government had budgeted for a Rs 58,000 crore dividend from the RBI in its Budget for this fiscal year.