Business News

Most sectoral indices at the National Stock Exchange were in the red with Nifty IT down by 0.9%

Among stocks, Tata Steel and JSW Steel dived by 3% each while Vedanta was down by 2.5% and Hindalco by 2.3%.              
 

Sectoral indices at National Stock Exchange were mixed with Nifty auto down by 0.14% as financial services slipped by 0.21%
 

The Reserve Bank of India filed an application with Mumbai bench of the National Company Law Tribunal. On November 20, the RBI superseded DHFL's board of directors and appointed former banker R Subramaniakumar the administrator

The project will help establish extra-high-voltage transmission link between Virudhunagar and Coimbatore in Tamil Nadu to transfer the additional generation capacity of 9,000 megawatt
 

At the interbank foreign exchange, the rupee opened at Rs 71.43, then gathered momentum and touched Rs 71.40 against the US dollar, registering a rise of 10 paise over its previous close

 Tejas said it recently received purchase orders totalling over Rs 60 crore from BEL for supply and services of its optical and data networking equipment for various projects which include the Kerala Fibre Optic Network, defence communication networks and smart city projects.

India's economic growth is expected to slow further in the second half of the year. New project announcements remain at a multi-year low, while production was depressed by weak consumer durables, non-durables, intermediate and capital goods, DBS bank pointed out.

The Essel Group has finally announced plans to sell 16.5% stake in Zee Entertainment Enterprises Ltd (ZEEL) to financial investors.

Telecom stocks traded lower despite the Union Cabinet approving the proposal to mitigate financial stress being faced by the sector. Vodafone Idea closed over 6% down and Bharti Airtel slipped by 2.4% as the government's move failed to cheer investors