Almost nine years after the launch of the first Sharia-compliant investment fund in India, the alternative investment funds based on the tenets of the Islamic banking are yet to take off in the country.

While Islamic banking is not permitted by law, people are free to raise or invest in Sebi-registered venture capital funds (VCF) that are in compliance with Islamic finance rules.

The rupee firmed 10 paise to 71.87 against the US dollar Friday on increased selling of the US currency by exporters and banks.

Besides, weakness in the greenback against some currencies overseas, increased foreign fund inflows and a higher opening of domestic equities supported the rupee, traders said.

Paytm’s domestic parent company One97 Communications on Thursday introduced a “Social Community Platform” exclusively for women as an interactive social feed, in partnership with an online womens community — “Sheroes”. This is an interactive social feed where women can engage on topics including health, careers, relationships, cooking and hobbies while sharing their life stories, achievements and moments with fellow women, the company said in a statement.

State-run energy major Oil and Natural Gas Corp (ONGC) has informed the Ministry of Finance that it may defer the interim dividend plan for the current financial year 2018-19, as it can either pay interim dividend or buy back government shares in the company, but not the both as it needs some time to build a corpus for the payout, The Indian Express reported.

MUMBAI: It has been a classic case for the Indian passenger vehicle market in the last 5-7 years: if Maruti Suzuki sneezes, the market catches a cold.

So, the overall Indian passenger vehicle market fell into negative category in the quarter ended September with sales falling 3.6% year-on-year to 870,804 when Maruti Suzuki sales dropped 1% to 449,834.

MUMBAI: Loss-making national carrier Air India plans to mop up Rs 700-800 crore by selling over 70 residential and commercial properties spread across the country, a senior airline official said Thursday.

This fresh bid is a part of the airline's real estate assets monetisation plan approved by the then UPA government in 2012.

New Delhi: Home favourite M. C. Mary Kom will look to grab her historic sixth crown when she will begin her campaign at the Aiba Women’s World Boxing Championships at the Indira Gandhi Stadium here from Thursday.

The 35-year-old, who will fight in the 48kg, is tied with Katie Taylor on five golds and one more will make her the most successful woman boxer in history since the Irish pugilist is now a Pro.

Bengaluru: Tech major Infosys will hire 500 American workers in Texas where the company is setting up a Technology and Innovation Hub, a specialised facility for telecommunications, retail and banking sectors.

Infosys in May 2017 said it would hire 10,000 American workers by 2019 and the company has already hired over 6,200 of them since it made this people announcement.

Mumbai: The BSE benchmark Sensex rose over 100 points to 35,257.88 and the NSE Nifty regained 10,600-mark on Thursday backed by gains in auto, pharma, energy and financial stocks amid fresh foreign fund inflows and easing global crude prices.

The appreciating rupee and mixed leads from other Asian markets too influenced sentiment.

Shares of Mahindra and Mahindra Ltd lost 2.3% on the National Stock Exchange after it reported weaker-than-expected numbers for the September quarter (Q2) on Wednesday. Revenue growth was a tepid 6.6%, reflecting muted volumes. But what caught the Street off guard is a sizeable reduction in profitability of the automobile segment.

Margins from automobiles dropped 2.7 percentage points from a year ago. The rise in raw material costs, introductory pricing for the new vehicle and higher promotional expenses were the reasons.

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