The rupee depreciated by 9 paise to 72.02 against the US dollar in early trade Monday at the interbank foreign exchange, halting its four-day winning streak, ahead of RBI's board meet.

Fresh demand for the American currency from importers amid rise in crude prices weighed on the domestic unit, dealers said.

The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries, Bharti Airtel and other bluechips amid continued foreign fund inflows and strengthening rupee.

A higher opening in European shares too influenced sentiments here.

Washington: India has sought from the US 24 multi-role MH-60 ‘Romeo’ anti-submarine helicopters for its Navy at an estimated cost of $2 billion, according to defence industry sources.

The deal is likely to be finalised in a few months.

The Supreme Court on Friday stayed the Competition Commission of India’s order that imposed over Rs 420-crore penalty on the country’s second-largest car maker Hyundai Motors India for anti-trade practices including lack of standardisation of spare parts and allowing original equipment suppliers (OESs) to sell spare parts in the open market without any restrictions.

The EBITDA margin at 10.6% for Q2FY19 missed our/consensus estimates by 60 bps on lower realizations and higher commodity costs. The bigger surprise was resignation of Vinod Dasari with effect from March 31, 2019. Dheeraj Hinduja will take over as the executive Chairman till the Board finds a suitable replacement.We expect FY20 earnings to benefit from a confluence of factors (higher volumes, lower discounts, higher operating leverage) on BS6 pre-buy.

GVK Power and Infrastructure (GVKPIL) has received the shareholders’ approval to raise up to Rs 8,000 crore.

The resolution to raise the funds, by a combination of various options listed on the agenda of the annual general meeting (AGM) held recently, has been passed by the requisite majority, the company said in a BSE filing on Friday.

In a six-hour long marathon meeting held on Friday, the board members of Mumbai-based Tata Sons discussed the possibility of taking over the crisis-ridden Jet Airways. However, the company is yet to make a concrete proposal in this regard. Even as the discussions continued, the speculation sent the carrier's stock soaring to end the trading session at 8.7% higher. The stock has risen by around 40% in the past five days.

As a member of the High Power Group (HPC) set up by Gujarat government for evaluating the options to ensure sustained operations of stressed imported coal-based power projects in its coastal region, one question that I am always asked after recent Supreme Court order is whether this provides a template for resolving the problems of all stressed power projects.

Coal India has received a lukewarm response from its employees after its stocks were offered to them at a discount.

This comes after its stake sale offer in the open market got a tepid response — only 0.19 per cent oversubscription option was exercised despite provisioning a 6 per cent green-shoe option.

With digital services emerging as the next growth driver for information technology (IT) services firms, quality of revenue is taking precedence over quantity, leading to a fair amount of rationalisation of customers.

This trend is reflected in the active customer base of Indian IT services firms, which grew at a tepid pace for the last three years despite healthy additions of clients every quarter.

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