CAD narrows to 3.6% in March qtr, external debt up 15%
While current account deficit (CAD) narrowed down to USD 18.2 billion (3.6 percent of GDP) in the March quarter from 6.7 percent in the quarter-ago period, India's external debt rose higher-than-expected by 15 percent to 390 billion in constant dollar terms. The rate of growth of external debt is faster than rate of growth of nominal GDP.
BSE Sensex ends 324 up, rupee holds 60/$; RIL, ONGC stars
Equity benchmarks rallied smartly with bouts of short covering on expiry day Thursday, closing near day's high, partly led by global cues and on hopes of gas price revision by CCEA in today's meeting.
Shares in oil and gas explorers gain on media reports that a government committee is meeting later in the day to contemplate a hike in natural gas prices, dealers say. Oil and Natural Gas Corporation gains 3 percent, Oil India is up 3.3 percent and Reliance Industries rises 2.4 percent.
Essar Projects bags $50 mn order in Papua New Guinea
Engineering, procurement and construction (EPC) company Essar Projects (EPL) has order valued at USD 50 million in Papua New Guinea for the Western Highlands Development Corporation.
Nine public sector power companies, including NTPC and PFC , will together contribute Rs 25 crore towards relief works in flood-ravaged Uttarakhand. The decision was taken at a meeting chaired by Power Minister Jyotiraditya Scindia with CMDs of public sector power firms.
US bank to invest $51 m in Religare
Religare Enterprises Ltd said late on Wednesday US-based bank Customers Bancorp Inc will invest USD 51 million in the financial services firm through a combination of stake sale by founders and issue of share warrants and fresh shares.
Deutsche Asset Management, part of Deutsche Bank, is set to launch India's first inflation-linked bond mutual fund, according to registration documents filed with market regulators late on Wednesday.
Eyeing 9000 White Label ATMs in 3 years: Muthoot Finance
Muthoot Finance has been very positive on getting a banking license from the Reserve Bank of India . George Alexander; its managing director said that they had not applied for the banking license yet. The deadline for submitting the applications to the RBI is on July 1.
By: Team Moneycontrol
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