The Anil Ambani-controlled telecom services company, Reliance Communications, on Tuesday said it would reduce its debt by about Rs 25,000 crore through the sale of some of its spectrum, tower and real estate assets.

“We have achieved full resolution for Reliance Communications,” said Ambani at a press conference in Mumbai. The resolution involves RCom exiting structured debt restructuring with no conversion of equity and zero write-off by lenders, Ambani added. “Expect overall debt for RCom to be around Rs 6000 crore.”

India looks set to leapfrog Britain and France next year to become the world's fifth-largest economy in dollar terms, a report showed on Tuesday.

The Centre for Economics and Business Research (Cebr) consultancy's 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices.

Four stocks - Reliance Industries, Bharti Airtel, Maruti Suzuki India and Tata Steel – from the S&P BSE Sensex have rallied more than 75% since December 26, 2016.

The benchmark Sensex ended above its crucial 34,000 level at 34,010.61 on Tuesday, up 31.8% from its one year back level on back of strong an over Rs 1-lakh crore net inflow by the domestic mutual funds. On December 26, 2016, the Sensex had closed at 52-week low of 25,807.10.

Bitcoin extended its recovery in holiday-thinned trading on Tuesday, rising 10 per cent to be up more than a third from last week's lows of below $12,000.

Bitcoin, the world's biggest and best-known cryptocurrency, fell nearly 30 per cent at one stage on Friday to $11,159.93 and, despite a late recovery, had its worst week since 2013. At 0445 GMT on Tuesday, it was quoted around $15,049 on the Luxembourg-based Bitstamp exchange.

NEW DELHI: Telecom operator Reliance Jio on Monday enhanced the cashback offer to up to Rs 3,300 on mobile recharge of Rs 399 and above for all recharges that will be done till January 15 next year, as per company sources.

Today is the last date for Jio's cashback offer of up to Rs 2,599 on recharge of Rs 399.

Mumbai: Market regulator Sebi is set to revisit its earlier directive that made it mandatory for listed companies to inform stock exchanges in the event of loan default.

This will be one of the items that will be looked into by the Securities and Exchange Board of India (Sebi) at its agenda-heavy board meeting on December 28.

Mumbai: The Indian rupee was trading little changed against US dollar on Tuesday in a thinly traded market as many dealers were on leave for the year end.

The rupee opened at 64.03 a dollar. At 9.15am, the home currency was trading at 64.02 a dollar, up 0.03% from its Friday’s close of 64.06. On Monday, markets were closed due to Christmas.

The new BJP government led by Vijay Rupani was sworn in at a grand ceremony in the State capital of Gandhinagar on Tuesday. Governor Om Prakash Kohli administered the Oath of Office and Secrecy to 21 ministers including Mr. Rupani and his deputy Nitin Patel.

Prime Minister Narendra Modi, BJP president Amit Shah and other senior party leaders attended the function, which was held at the new Secretariat complex.

The Indian Railway Catering and Tourism Corporation (IRCTC) and Coal India (CIL) are joining hands for a project to use the excess groundwater from the latter’s mines to produce purified packaged water being sold under IRCTC’s popular Rail Neer brand. A site has been identified at Argada near Ranchi in the coal-rich state of Jharkhand to set up a bottling plant of IRCTC. “Water will be supplied from the adjoining coal mines to this plant for purification.

Sensex crossed 34,000-level in the opening session on Tuesday after a three day Christmas weekend. Indian stock markets started on a higher note with the key equity indices Sensex and Nifty surpassing their previous records. S&P BSE Sensex jumped 65.07 points to hit a lifetime high of 34,005.37 whereas NSE Nifty too edged up, rising by 22.1 points to mark another all-time high of 10,515.1. Shares of heavyweight companies such as Tata Consultancy Services, HDFC, ITC, ONGC, Asian Paints and Reliance Industries contributed to the upsurge of Sensex.

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