Business

The Disinvestment Department has already selected five merchant bankers - Citibank, HSBC, UBS Securities, SBI Capital and JM Financial - to manage the stake sale of the oil major.

The rupee opened weak at 60.78 per dollar on Thursday while it opened at 60.78 per dollar versus 60.40 on Wednesday.

Brokers said a volatile rupee raised concerns that the RBI may have to extend its liquidity tightening measures for a longer-than-expected period.

No global retailer has moved so far to file applications with the Foreign Investment Promotion Board which vets FDI proposals.

The RBI has also cut down the GDP forecast for FY'14 to 5.5 per cent.

Amongst major earnings, Dr Reddy's results disappointed with profits. NTPC too disappointed with revenue down inspite of lower fuel costs.

On the growth front, RBI raised concern saying that the recovery is likely to be slower.

European markets are more or less flat, he said, adding that he is neither pessimistic or optimistic about it.

New Delhi is considering the time-tested recipe of raising money from NRIs via debt or deposits.

American lawmakers and business groups have repeatedly asked United States to increase pressure on India to change its policies.

AirAsia's big boss Tony Fernandes and the new India CEO Mittu Chandilya say India's next airline will change the industry.

The TCIL had been charged with delay in filing the shareholding details under the Sebi's Takeover Regulations for 2009 and 2010.

For the fuel and power category, inflation was lower at 7.12 per cent in June as compared to 7.32 per cent in May.

Rupee has been gaining for the third consecutive day after hitting a record low of 61.21 per dollar on Monday.

The rupee had ended 47 paise higher at 60.14 against the US currency in the previous session.

CNBC-TV18's banking editor Latha Venkatesh joined IBNLive readers for an interaction on Indian Rupee vs US Dollar.