Extending its rising streak for the second day, the rupee appreciated by 6 paise against the US dollar to 68.54 in early trade on Monday on increased selling of the American currency by exporters and banks amid higher domestic equity market.

Forex dealers said besides sustained selling of the greenback, a higher opening of the domestic equity markets boosted the rupee at the interbank forex market.

BENGALURU: Wipro has effected a $75-million settlement with its decade-old customer National Grid for release of all claims under a lawsuit the latter filed in a New York district court against the firm in 2017.

National Grid is an electricity, natural gas, and clean energy delivery company that supplies energy for more than 20 million people through its networks in New York, Massachusetts, and Rhode Island.

NEW DELHI: State-run Life Insurance Corporation may need to pay a premium for IDBI Bank’s real estate and non-core assets, two officials aware of the matter said.

IDBI Bank has started valuing its assets before making a preferential issue of shares to LIC, which is set to acquire a majority stake in the lender. The valuation exercise is expected to be completed by August 15, one of the officials said, adding that the sum-of-the-parts value would be more than what the stock price currently suggests.

Wipro said it has effected a settlement of the lawsuit filed by National Grid US for $75 million (Rs. 499 crore), which would impact its July-September results.

The company, India's third largest software services exporter, said this settlement is for the release of all claims under the lawsuit with National Grid US.

A Delhi-bound Air India flight from Milan had to return to the airport in Italy within 30 minutes of take-off after a passenger tried to enter the cockpit, the airline said on Saturday.

According to an airline spokesperson, the incident happened on August 2 when the passenger, and Indian citizen whose seat no. was 32C, tried to enter the cockpit in clear violation of aviation rule.

North Korea has not stopped its nuclear and missile programs in violation of United Nations sanctions, according to a confidential U.N. report seen by Reuters on Friday.

The six-month report by independent experts monitoring the implementation of U.N. sanctions was submitted to the Security Council North Korea sanctions committee late on Friday.

In a break from convention, the National Highways Authority of India (NHAI) on Friday concluded an agreement with State Bank of India (SBI) to raise Rs 25,000 crore from the country’s largest bank as an unsecured loan, mainly to finance fully-state-funded engineering procurement and construction (EPC) projects.

Kotak Mahindra Bank on Friday raised the issue of financial creditors suffering due to the huge haircut proposed in the resolution plan submitted by the Reliance Industries-JM Financial ARC combine for Alok Industries at the National Company Law Tribunal’s (NCLT) Ahmedabad bench. The tribunal will hear all the cases related to Alok Industries on September 6 and 7.

Capital market regulator Securities and Exchange Board of India (Sebi) is probing allegations of fraud and irregularities at Metropolitan Stock Exchange of India (MSEI).

The probe has been initiated after complaints from two whistleblowers who have highlighted issues relating to governance, mismanagement and the siphoning of funds at the exchange.

Tata Motors said on Friday it aims to deliver profits both at British marquee arm Jaguar Land Rover (JLR) as well as the domestic business. However, it remained silent on the future of the small car Nano that has been facing headwinds for long.

The statement comes within days of the company reporting a Rs 18.64 billion net loss in the June quarter.

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