Mumbai: The Indian rupee on Wednesday gained 0.42%, most in one month, against the US dollar tracking gains in the Asian currencies markets.

The rupee closed at 68.05 per dollar—up 0.42%, its maximum gains since 6 December, from its previous close of 68.33. The home currency opened at 68.28 against the dollar. Since 1 April 2016 till date, rupee has fallen 2.5%.

Mumbai: Market traded sideways and ended lower on Wednesday, hit by selling by foreign investors towards the close of the session amid a subdued trend in Europe.

The Sensex succumbed to the pressure, before ending down 10.11 points, or 0.04%, at 26,633.13. The gauge had gained 47.79 points in the previous session. NSE Nifty also closed in negative territory with a minuscule fall of 1.75 points, or 0.02%, at 8,190.50.

New Delhi: The Election Commission (EC) is examining the representation of various political parties for not allowing the presentation of the Union Budget during the poll process of five states and will take a call on it soon.

Chief election commissioner Nasim Zaidi said various political parties have represented to the Election Commission regarding the issue of presentation of Union Budget which is likely to be presented on 1 February by the central government as it falls during the election campaign to five states.

India’s pioneering online automobile transactional marketplace Droom has firmly entrenched its foothold as a complete eco-system for buyers to have an impeccable automobile owning experience. In its latest effort to sustain such a status, Droom has tied up with Axis Bank, India’s third largest private sector bank, to provide quick sanction of loans on both new as well as used cars.

Loans are an integral element in almost all new and used car purchases and Droom’s recent collaboration with Axis bank is evidence of its continued efforts to cover the 360 degree eco-system of online automobile transactions.

Security agencies of India have reportedly alerted central intelligence agencies against a WhatsApp virus which can possibly hack into their personal information and data. According to a PTI report, elite organisations like NDA and NIA are under the threat, as two files with malicious content have been doing the rounds on WhatsApp, the Facebook-owned instant messaging app. According to the report, data about soldiers in the Army are one of the main targets of the notorious virus.

The country's largest carmaker, Maruti Suzuki India (MSI), today opened online booking for its premium hatchback 'Ignis' that it plans to launch next week.

"India's largest passenger vehicle maker opens online booking for #IGNIS, the premium urban compact vehicle, for the millennials," the company said in a statement.

Bengaluru-based proxy advisory firm Ingovern Research has asked shareholders of Infosys to seek more clarity on the terms of David Kennedy's severance from the company. Kennedy, was the company's general counsel and chief compliance officer.

On Sunday, Infosys told the exchanges that Kennedy had left the company after a mutual separation agreement it entered into with him. As a part of the separation as well as his employment agreements, Kennedy will receive severance payments of $868,250 plus reimbursements for COBRA (insurance) continuation coverage over a period of 12 months.

The GMR Group and Tata Realty will not bid for the Navi Mumbai airport project, citing “onerous” bid conditions, among other reasons. “We are not bidding on account of project implementation and execution challenges as well as onerous timelines and bid conditions,” a GMR Group spokesperson said.

This means there will be only two companies — GVK-led Mumbai International Airport (MIAL) and Hiranandani Developers-Zurich Airport consortium — in the race for the Rs 16,000-crore project.

Nine of the top ten realty stocks went up by 0.72% to 6.65% on January 2, after the domestic banks have started cutting lending rates after a massive inflow of deposits post demonetisation. The BSE Realty index rose by 4.23% and closed at 1,318.38 in the first session of CY2017.

The biggest gainer from the realty index was DLF, up 6.65% at the end of Monday’s closing. A spurt in DLF’s volume has been registered on Monday, the volume increased by 2.27 times from last two weeks average of 9.39 lakh to 21.31 lakh.

State Bank of India (SBI) on Monday set off a rate war, offering home loans as cheap as 8.5%, the lowest in six years. ICICI Bank Ltd slashed its rate in response, a move that will likely be followed by a host of other lenders, many of whom have already cut their benchmark lending rates.

SBI also introduced a a hybrid loan product which allows customers to tie up a fixed-rate loan for the initial two years, which will get repriced later.

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