Mumbai: The rupee on Wednesday strengthened marginally against the US dollar in the opening trade.

The rupee opened at 63.94 a dollar. At 9.10am, the rupee was trading at 63.97 a dollar, up 0.07% from its Tuesday’s close of 64.02.

Bengaluru: Infosys Ltd co-founder N.R. Narayana Murthy on Tuesday backed newly appointed chairman Nandan Nilekani to fix corporate governance lapses and also hailed last week’s overhaul of the board that resulted in the exit of four members, including previous chairman R. Seshasayee.

Murthy also took a direct shot at former and current board members, Jeffrey Lehman and Roopa Kudva, alleging that the board asked him to sign a non-disclosure agreement if he wanted to know the reason behind Infosys agreeing to pay Rs17.38 crore in severance to former chief financial officer Rajiv Bansal.

Government’s 7,000-14,000 crore stake sale in India’s biggest power producer NTPC via a two-day offer-for-sale (OFS) which opened for retail investors today got subscribed 1.87% as at 10:35 am. Retail investors, who will be offered a 5% discount, can bid for shares today till 3:30 pm as over 8.24 crore shares have been reserved for them. The government is selling over 41.22 crore shares, or 5% holding at a floor price of Rs 168 per share, through the two-day offer for sale (OFS), with an option to retain a similar portion in case of over-subscription. Shares of NTPC were trading little changed, up 0.33% at Rs 168.95 on BSE.

NEW DELHI: The country's largest car maker Maruti Suzuki India Limited (MSIL) on Wednesday announced the revamp of its retail network. The new showrooms will be christened Maruti Suzuki Arena.

Kenichi Ayukawa, managing director and chief executive officer, MSIL, said, "While we continue to bring technology and quality into products, alongside we are focused on the quality of our network...Technology will be a key differentiator (in Maruti Suzuki Arena) where we have aligned with the new age customers."

SEOUL: Hyundai Motor said on Wednesday it would resume production in China as soon as the supply of parts resumed, after the South Korean automaker suspended production at its four Chinese factories last week due to supply disruption.

Hyundai's joint venture with China's BAIC Motor Corp Ltd had stopped production after a fuel-tank components supplier refused to provide parts due to non-payment, Hyundai said in a regulatory filing.

In a bid to recover from Tuesday's session, markets today opened with early gains. The 30-share BSE Sensex gained 146.18 points to open on 31,534.57 and the 50-share NSE Nifty went up by 63.45 points to start trading on 9,859.50.

On Tuesday the key indices globally were spooked over North Korea's missile attack on Japan.

Air India has dubbed travel agents its "principal customers" and wants them to shoulder the task of the goods and service tax-related invoicing of corporate customers.

The move will reduce the workload of the airline. But agents may have to hire more staff to complete the formalities.

Under the GST, economy-class air travel and business-class travel is charged at 5 per cent and 12 per cent, respectively. Companies purchasing tickets for staff travel can claim an input credit on tax payment.

The government is contemplating giving armed personnel special mobile phones, which are likely to be designed by an Indian company.

The idea is to keep data and communication devices used by the defence forces secure. The plan was in the preliminary stages and the government would deliberate on it further after internal discussions and talks with other stakeholders, including manufacturers, said officials. The specifications for the mobile phone will also be discussed later.

The Reserve Bank of India is likely to issue Rs 200 denomination currency notes by the beginning of September.

The Central government has specified the introduction of bank notes of denomination Rs 200, reported ANI.

"There is no other denomination available between Rs 100 and Rs 500 and RBI is expecting Rs 200 notes to become very popular and that's why it is taking every step to ensure availability of it," reported Economic Times quoting sources.

The Telecom Regulatory Authority of India (Trai) on Monday initiated the process for the next spectrum auction by floating a consultation paper on the same, in which the regulator will deliberate, among other issues, on the timing for the auction, whether there should be a cap on bidding for airwaves in the 5G-capable 3300-3400 MHz and 3400-3600 Mhz bands, as well as on the reserve price for various bands. In April, the department of telecom (DoT) requested Trai to give its recommendations on the applicable reserve price, quantum of spectrum to be auctioned and associated conditions for auction of spectrum in 700 MHz, 800 MHz, 900 MHz, 1800 MHz, 2100 MHz, 2300 MHz, 2500 MHz as well as the 3300-3400 MHz and 3400-3600 MHz bands, which will go under the hammer for the first time.

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