Mumbai: The Indian rupee appreciated by 2.30%, its biggest weekly gain since September 2013, as the emerging optimism on emerging market economies rubbed off on the domestic currency, and hopes that foreign investors would return to buy Indian shares and bonds comforted by fiscal prudence of the government spurred dollar sales by banks.

The rupee closed at 67.10—a level last seen on 13 January, up 0.36% from its previous close of 67.34. Intraday, the rupee touched a high of 67.08 per dollar.

World’s largest e-retailer Amazon is India’s most trusted online shopping brand followed homegrown Snapdeal and Flipkart, a survey said.

Other firms to figure in the top 10 trusted online shopping brands are Ebay, Myntra, Yepme, Jabong, Naaptol, Shopclues and Askmebazaar.

NEW DELHI: Electrification has been done in 6,000 of the 18,500 unelectrified villages and the renewable energy capacity has reached 39.5 Giga Watts, a meeting chaired by Prime Minister Narendra Modi was told.

At the two-and-a-half hour meeting to review the progress of key infrastructure sectors here yesterday, Modi also took stock of the progress in 'Housing-for-All' programme and directed officials concerned to expedite its implementation, using a judicious mix of modern technology and local building materials and techniques.

Mumbai: India’s benchmark equity indices posted their best weekly gains in absolute terms in nearly seven years as investors cheered the government’s commitment to its fiscal consolidation road map in budget 2016 and prospects of lower borrowing costs as a result.

The rupee also stabilized, pulling back from near-record lows to post its highest weekly rise in nearly one-and-a-half years.

Maruti’s sales are lower by 1% y-o-y at 117,451 units in February. Dispatches were impacted due to production shortage (state of Haryana witnessed disruption due to protests, which impacted production of OEMs). The production loss was 10,000 units. We are currently Neutral on Maruti Suzuki while the stock has corrected from peak levels, the concerns around margins remain against the backdrop of a weakening rupee.

After getting an extension of one year, UK Sinha, chairman of the Securities & Exchange Board of India (Sebi), is ready to unleash a number of announcements for start-ups.

Though the board meeting, which is scheduled next week, will take decisions on tax incentives for alternative investment funds (AIFs) and introduction of the securities transaction tax (STT) for private equity and venture capital investments, the biggest announcement could be new initiatives to promote listing of start-ups.

Following introduction of new levies in the Union Budget, car makers like Mahindra & Mahindra and Honda have raised the prices of their cars by up to Rs. 82,906.

The price hike in Hyundai motors effective from March 1 would cost the consumers a hike between Rs. 2,889 and Rs. 82,906 depending on the model.

Air India plans to bring down its losses by 40 per cent to Rs 2,000 crore in FY17 from the projected Rs 3,529 crore in FY16 on the back of revenue growth and cost optimisation. The airline’s board, led by Chairman and Managing Director Ashwani Lohani, has finalised the budget estimates for FY17.

Passenger revenue for FY17 is projected to be around Rs 17,000 crore, up from the estimated Rs 15,500 crore in FY16, due to network expansion and improvement in load factor (capacity use). Air India also plans to add flights to Delhi-Washington and Ahmedabad-London-Newark routes.

The Karnataka High Court on Friday took up a petition by State Bank of India to arrest UB Group chairman Vijay Mallya, impound his passport and also direct him to disclose his personal and family’s assets, in India and globally. At the same time, it said, there is no impediment for the Debt Recovery Tribunal (DRT) to hear a similar plea by the public sector bank, which is seeking legal remedy over unpaid loans by Mallya taken to run the now-defunct Kingfisher Airlines.The DRT reserved orders for March 7, its judgment on the first petition by SBI, which leads a consortium of banks, to direct Mallya and Diageo Plc to deposit the $ 75 mn (around Rs 500 crore) committed by the British liquor firm for a non-compete deal signed with Mallya. It would take up the other pleas for arrest and impounding of Mallya’s passport on a later date.

On account of new levies announced in the Union Budget, Hyundai Motor India Ltd (HMIL) Friday raised its vehicles' prices ranging from Rs 2,889 and Rs 82,906 depending on the model. The hike will be effective from March 1.

The second largest car manufacturer in India sells a range of vehicles from entry level small car Eon with price starting at Rs 3.20 lakh to luxury SUV Santa Fe tagged at Rs Rs 30.79 lakh (ex-showroom Delhi).

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