The Reserve Bank of India’s recent decision to inject $5 billion through foreign exchange reserve swap has been taken to help banks quickly cut interest rates in line with the monetary policy. The move would not only improve the liquidity and monetary transmission in the economy, but also help controlling the currency appreciation, says Murthy Nagarajan, Tata Mutual Fund’s Head-Fixed Income.

Shares of Larsen & Toubro (L&T) rose 3 per cent to Rs 1,415 in intra-day trade on Friday, extending their Wednesday gain on the BSE, even as brokerages firm maintain ‘buy’ rating on the stock after the company proposed to acquire IT firm Mindtree.

The stock is 3 per cent away from its 52-week high price of Rs 1,459 that it hit on December 21, 2018, in intra-day trade. It touched an all-time high of Rs 1,470 on February 1, 2018, on the BSE.

The rupee opened 19 paise higher at 68.64 against the US dollar on Friday. The domestic unit on Wednesday recovered by 13 paise to close at 68.83 amid sustained buying by foreign investors in domestic equity markets and lower crude prices.

In its currency themetic report, ICICI Securities noted that the currency will remain strong as most of the headwinds have started to ebb.

The government Friday decided to boycott the Pakistan National Day event to be held at its high commission in New Delhi as Kashmiri separatist leaders were also invited, an official said.

Indian government officials will stay away from the reception scheduled on the eve of Pakistan National Day, which is celebrated on March 23, the official said.

The toll in the explosion at an industrial park in eastern China climbed steeply to 44 on Friday morning as a number of people succumbed to their injuries.

The explosion occurred on Thursday following a fire in a fertilizer factory in a chemical industrial park in Yancheng, Jiangsu province, according to the government of Xiangshui county.

The relationship between India and the US flourished under Prime Minister Narendra Modi, an official in the Donald Trump administration has said, adding it expects the ties to improve after the Lok Sabha elections.

The senior official also said the first ever India-US two-plus-two dialogue, held in New Delhi last year, took the relationship forward.

State-owned power producer NTPC Tuesday said its 200 kilo watt (kW) waste-to-energy plant in Karsada has achieved full generation capacity.

The plant is located in Karsada at Varanasi, Uttar Pradesh (UP).”Karsada plant has been able to achieve full load generation. Set up with an installed capacity of 200 kW, the thermal gasification-based pilot scale 24 tonne per day waste to energy plant has achieved full generation capacity,” NTPC said in a statement.

New Delhi: Shares of Reliance Communications further zoomed 10 per cent to hit the highest trading permissible limit for the second day in a row on Wednesday after the company cleared dues of Swedish service provider Ericsson.

The scrip rose sharply by 10 per cent to Rs 4.84 -- its upper circuit limit -- on the BSE.

Vodafone Idea Ltd, India’s largest telecommunications company by subscribers, on Wednesday approved 250 billion rupees (USD 3.63 billion) rights issue at a sharp discount, sending its shares tumbling.

The deal is the second major fundraising by an Indian telco this year after Bharti Airtel Ltd announced a similar plan to reduce debt and fund operations in a market blighted by steep price competition.

Benchmark indices opened on a positive note on Wednesday on sustained foreign fund inflow ahead of March derivatives expiry.

However, gains were capped as Asian shares fell across the board in line with overnight drop in US stocks. Rising crude oil prices too worried investors.

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