The rupee strengthened by 11 paise to 67.04 against the dollar at the interbank forex market today ahead of the announcement of RBI’s monetary policy amid fresh selling by exporters and higher opening of the domestic equity markets. Dealers said besides fresh selling of dollar by exporters, dollar’s weakness against some currencies overseas amid lingering concerns about global trade supported the rupee.

India may be the biggest beneficiary of solar industry reforms in China that are poised to reduce prices for photovoltaic panels. China announced last week it was halting approvals of some new solar projects this year and cutting subsidies to developers to ease its pace of expansion. That’s expected to slow demand in the world’s biggest market, weakening prices, and force the country’s manufacturers to ship more panels overseas.

The government is weighing an option to rope in the National Investment and Infrastructure Fund (NIIF), apart from NTPC, to take over some stressed power assets, a senior official told FE. A detailed proposal is expected to be discussed at a meeting that will be soon convened by the finance ministry to resolve the issue of massive bad loans in power — estimated at Rs 1.77 lakh crore — following last week’s order by the Allahabad High Court.

Bank of Baroda (BoB) on Tuesday raised its marginal cost of funds-based lending rates (MCLRs) by five basis points (bps) across tenures, a days ahead of the Reserve Bank of India’s (RBI) monetary policy review. The one-year MCLR at the bank now stands at 8.45%. The new rates come into effect on Thursday.

MUMBAI: Betting big on greener vehicles for the future, Tata Motors in a presentation to investors on Tuesday informed that it is working on close to a dozen electric and hybrid vehicle solutions in the commercial vehicle space and is simultaneously moving towards adedicated electric vehicle platform in the passenger vehicle front.

When Narendra Modi took office as India's prime minister just over four years ago, a top priority for the economic reformers who had supported his candidacy was the privatization of India's incredibly inefficient public sector. Among their biggest targets was the state-run airline, Air India -- a clunky, loss-making behemoth that has long been rendered irrelevant by buzzy domestic competitors. I would personally have cheered that outcome:

The Enforcement Directorate in its report against jeweller Nirav Modi have said that owners and directors of at least five firms based out of Hong Kong earned only between Rs 8,000 and Rs 30,000 every month, an Indian Express report has revealed.

Amazon.in might be the most visited shopping site in India, but for Jeff Bezos, the founder and CEO of the technology giant, it is still Day 1 in what may be the second-most important market for the firm outside the US.

Bezos, in a letter to customers, said that Amazon now has customers in 100 per cent serviceable pin-codes in the country and is shipping packages from more than 50 fulfillment locations in 13 states.

SatSure Analytics, a satellite data analytics company, has signed a strategic Memorandum of Understanding (MoU) with Antrix Corporation, the commercial arm of the Indian Space Research Organisation (Isro), for furthering geospatial big data analytics.

Shares of Biocon hit a record high of Rs 695 per share, up 6% on the BSE in opening deal in otherwise weak market, after the company and its partner Mylan have received nod for their first biosimilar of cancer medicine Pegfilgrastim from the US drug regulator for selling in the American market.

“The United States Food and Drug Administration (USFDA) has approved Mylan’s Fulphila (pegfilgrastim-jmbd), a biosimilar to Neulasta (pegfilgrastim), co-developed with Biocon,” the company said in a press release.

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