MUMBAI: The rupee depreciated by 11 paise to 67.42 against the US dollar in early trade due to sustained demand for the American currency from importers amid foreign fund outflows.

Besides, a weak opening in the domestic equity market weighed on the domestic unit, dealers said. However, weakness in the US dollar against major world currencies in the global market, limited the rupee fall.

MUMBAI: Ignoring positive Asian cues, market benchmark BSE Sensex fell by 83 points in early trade today on profit-booking by investors in recent gainers.

Sentiment remained cautious ahead of the UK referendum on whether to stay in the European Union due on Thursday.

As many as four companies raised Rs 1,900 crore through retail issuance of non-convertible debentures (NCDs), in the first two months of the current financial year, to meet their business needs.

This is on top of the Rs 33,812 crore garnered in the entire preceding fiscal.

Tata Motors which generates majority of its revenue from its British luxury car unit Jaguar Land Rover (JLR) could come under pressure if Britain decides to leave European Union after the June 23 referendum, also known as Brexit. According to Tata Motors website, Jaguar Land Rover contributed 83.2 per cent of the company’s total automotive revenue in 2014-15 compared to 82.2 per cent in 2013-14.

Merger talks between Reliance Communications (RCom) and Aircel will be extended by a couple of weeks, as both parties are thrashing out the final contours of the deal with their bankers. On May 22, both had decided to extend exclusive merger talks with each other by a month that will expire on Wednesday. It has been learnt the lenders are putting their weight behind the merger and the State Bank of India is leading this consortium of lenders.

To recover pending dues worth Rs 92 crore, markets regulator Sebi has ordered attachment of properties of Basil International and its directors that had raised money illegally from the public.

The regulator has attached three properties, including land parcels and movable properties of the defaulters.

India's largest software exporter TCS on Monday formed a strategic partnership with Sernova Financial to deliver its next generation cloud-based derivative post trade processing service to enable banks to effectively maintain compliance with the changing global regulatory environment while reducing risk.

The new tie-up combines Sernova's capital markets expertise, Calypso platform's capability and Tata Consultancy Services' (TCS) bouquet of capital markets solutions along with IT-Operations synergies as well as Business Process as a Service (BPaaS) models.

The government's bold decision to increase foreign direct investment (FDI) cap to 1000% will help India in realising the dream of self-reliance in the defence sector which has immense possibilities for attracting investments, setting up manufacturing facilities, obtaining technologies and capabilities and generating high skilled employment, apex industry body ASSOCHAM said on Monday.

"It will also help in bringing investment and advanced technology into defence sector thereby leading to inflow of capital and setting up entities of original equipment manufacturers (OEMs) and their suppliers through transfer of technology," said DS Rawat, secretary general of ASSOCHAM.

Wipro, India’s third largest IT services company, has tweaked the incentive structure for its top executives, wherein 50 per cent of the weightage will be given to the performance of the company while determining the incentives as compared to a particular business unit or account. The other 50 per cent of the weightage would be given to Individual performance and performance of the team.

Kabul, June 20 (Reuters): A Taliban suicide bomber killed at least 14 people and wounded eight in an attack on a minibus carrying Nepalese security contractors in the Afghan capital, Kabul, early on Monday, officials said.

A Reuters witness saw several apparently dead victims and at least two wounded being carried out of the yellow bus while police and emergency service vehicles surrounded the scene in the Banae district of the city.

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