Rupee rises 7 paise to 70.34 vs USD in early trade


Forex dealers said, selling of the American currency by exporters and easing crude prices supported the rupee in early trade. The rupee appreciated by 7 paise to 70.34 against the US dollar in opening trade on Friday, driven by gains in domestic equities and weakening of the greenback in overseas markets. The rupee opened strong at 70.38 at the interbank ...

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Sensex rises over 65 points in early trade


The NSE Nifty too witnessed similar movement, and was trading 17.65 points, or 0.16 per cent, up at 10,839.25.     The benchmark BSE Sensex rose over 65 points in early trade Friday following value-based buying in auto, oil & gas, and metal sectors amid positive trend at other Asian markets and rising rupee. The 30-share index was trading 68.58 ...

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Rupee reverses two-day losing streak, edges up 5 paise to 70.41 vs USD


Snapping its two-session slide, the rupee ticked higher by 5 paise to close at 70.41 per U.S. dollar on Thursday on increased selling of the greenback by exporters amid easing crude oil prices. Forex traders said the American currency weakened after minutes of Federal Reserve’s policy meeting triggered uncertainty about future rate hikes. At the interbank foreign exchange market, the ...

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Jaguar Land Rover to cut 4,500 jobs, mainly in Britain


Tata Motors-owned Jaguar Land Rover has announced plans to cut 4,500 jobs in the U.K. as part of its strategy to achieve cost reduction and cash flow improvements of £2.5 billion in 18 months. The workforce would be reduced through a “Voluntary Redundancy Programme,” the company said. The carmaker has a workforce of about 40,000 in the U.K. The company ...

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Market risk, economic growth to drive gold demand in 2019: WGC


  ‘Global investors will continue to favour precious metal as an effective diversifier’ Increased market uncertainty and expansion of protectionist economic policies will make gold increasingly attractive as a hedge in 2019, says the latest report by the World Gold Council (WGC), adding that structural economic reforms in key markets will continue to support demand for gold in jewellery, technology ...

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Maruti Suzuki hikes prices of select models


The country’s largest car maker Maruti Suzuki on Thursday announced a price hike of up to ₹10,000 on select models on account of rise in commodity prices and adverse impact of foreign exchange rates. The increase is effective immediately. “The price change varies across models and ranges up to ₹10,000 (ex-showroom – Delhi). The new prices are effective from 10th ...

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Luxury car market finds traction despite strong headwinds


Sales volume crosses the 40,000-mark in 2018     Despite strong headwinds the luxury car segment in India grew 3.46% in 2018 and total volumes crossed the 40,000-mark. Except Audi India, all players reported growth. Luxury car makers sold a total of 40,340 units compared with 38,989 units sold in 2017. While Mercedes-Benz India maintained its market leadership position for ...

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TCS Q3 profit rises 24.1% to ₹8,105 crore


Digital accounts for 30% of revenue Tata Consultancy Services, India’s largest software exporters, reported a 24.1% growth in its third quarter net profit to ₹8,105 crore compared to the year-earlier period even as on-site hiring dragged the margins down for the IT bellwether. Revenue of the IT services major increased 20.8% during the quarter to ₹37,338 crore, the highest in ...

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GST burden on small businesses eased


Threshold for businesses in most States doubled to ₹40 lakh; small firms allowed to file annual returns The GST Council in its 32nd meeting on Thursday — the last before the Budget — took a slew of decisions aimed at reducing the tax and compliance burden on small and medium enterprises, including increasing the threshold limit below which companies are ...

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TCS appoints Daniel Callahan as independent director


India’s largest software exporter Tata Consultancy Services has appointed Daniel Hughes Callahan, popularly known as Don Callahan as additional and independent director for a period of five years with effect from January 10, 2019, based on the recommendations of the Nomination and Remuneration Committee, and subject to approval of shareholders.   Mr. Callahan is a transformative leader with broad experience ...

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