Mumbai: The stock market erased all its early gains on Wednesday to close in the red at 26,603, in line with subdued global indices, as investors remained tentative ahead of the crucial US Fed policy meet on whether to raise interest rate or not. Index heavyweight Coal India disappointed on the quarterly earnings front, which too soured mood, brokers said.

Retail inflation for November eased to a two-year low of 3.63% and wholesale inflation, falling for the third month, was down at 3.15%. But this was not enough to offset the worries as investors keenly waited for the outcome of the US Fed meeting later in the day.

Volvo Group Trucks Technology (GTT), the global research, development and engineering arm of Volvo, and Indian Institute of Science (IISc) today joined hands to undertake R&D in future automotive technologies.

Volvo Group and IISc will collaborate on long-term research collaboration in selected technology areas under a Memorandum of Understanding (MoU), Volvo Group in India said in a statement.

Apex industry body ASSOCHAM today stated that fall in wholesale price index (WPI) numbers for the month of November 2016 is in tandem with the expectations which started to feel the depressive state in the Indian economy owing to the demonetisation announcement in November 2016. The chamber indicates that WPI numbers for the coming months is expected to fall in coming months since any increase in crude oil prices due to output cut decision by OPEC countries and increase in prices of other commodities due to stimulus given by US and other developed countries will be offset by downward pressure on consumption demand, which is a main contributor in GDP.

Indian Railways will adopt a “completely transparent e-tendering process” to utilise its capital expenditure of Rs 1.22 lakh crore for 2016-17, Union Minister Suresh Prabhu has said.

He said the Railways is trying to ensure that end-users and vendors use e-wallets, in line with the government’s thrust on cash less transactions post demonetisation.

Oil and Natural Gas Corporation (ONGC) has dipped 2.6% to Rs 304 on the BSE in intra-day trade ahead of the stock go for ex-bonus in the ratio of 1:2. The stock price will factor in the issuance of bonus shares on Thursday, December 15, 2016 to the existing investors.

The stock has outperformed the market by gaining 11% from Rs 280 after the company on October 24, announced that the board will consider a proposal for declaration of bonus issue on October 27. The S&P BSE Sensex was down 5% during the same period.

Reliance Industries (RIL) was up 2% to Rs 1,064 on the BSE in intra-day trade, gaining for the fifth straight trading sessions, in otherwise range-bound market. The stock was trading at six-week high, its highest level since October 30, 2016.

Since December 7, in past fifth trading sessions, it was up 6.4% from Rs 1,000 against 1.6% rise in the S&P BSE Sensex.

German luxury car maker Mercedes- Benz today launched a new sportscar AMG C43 in India priced at Rs 74.35 lakh (ex-showroom, Delhi).

It complements the C-Class range by another sports build of Mercedes-AMG origin, the company said in a statement.

MUMBAI: The amount of demonetized currency that has been deposited in banks has crossed Rs 12.44 lakh crore on December 10, according to data released by Reserve Bank of India on Tuesday.

The deposits represent nearly 80% of the value of high denomination notes (estimated at Rs 15.44 lakh crore) of Rs 500 and Rs 1,000 demonetised on November 8. The official data on high value currency as on March 2016 was Rs 14.18 crore.

Calcutta, Dec. 13: Public sector miner Coal India's September-quarter consolidated net profit took a hit as it made a Rs 710.64-crore provision to cover for the salaries and wages of its employees.

Net profit during the quarter stood at Rs 600.17 crore compared with Rs 2,654.34 crore a year ago.

Hyderabad: Ride-hailing firm Uber Technologies on Tuesday said it will launch its bike taxi service UberMOTO in Hyderabad from January next year. The company already operates the service in Gurgaon.

Uber had earlier launched the service in Bengaluru, but had to shut it after the state government said it did not obtain the necessary permits to do so.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.