The rupee broke below the 68-mark again by depreciating 26 paise to 68.20 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange due to increased demand for the American unit from importers and banks amid a lower opening in the domestic equity market.

Moreover, sustained capital outflows also weighed on the domestic unit but dollar's weakness against some currencies overseas limited the rupee's fall, forex dealers said.

India will grow at 7.4% in FY16 and at 7.7% in FY17, a Bank of America Merrill Lynch Global Research report says.

The report said that the growth will be according to the new GDP calculation and on the back of better rains in the period.

Google CEO Sunder Pichai is now the highest paid executive in the US. Pichai's net worth rose after he was awarded 273,328 shares of Google's holding company Alphabet.

At the time, the shares were worth $199 million, taking his holdings up to $650 million.

New Delhi: Market benchmark Sensex plunged by 330 points to 24,287.42 ahead of the release of GDP numbers for the third quarter as selling pressure intensified in the later half of the session on weak opening in European shares.

The BSE barometer opened on a flat note and remained sideways for most part of the session awaiting quarterly GDP numbers, but sank heavily on weakness in European equities.

The proposed merger between Reliance Communications and Sistema Shyam TeleServices India appears to be on track. The Bombay High Court has admitted the application for Scheme of Arrangement between RCom and SSTL. The Court has directed RCom to convene a Court-Convened Meeting of Reliance Communications' shareholders on Tuesday, 8 March 2016 at 11 am at REMI. Director of Reliance Communications, R N Bhardwaj, has been appointed as Chairman of the said meeting. RCom is, therefore, finalising a notice of the above meeting to be sent to its shareholders and taking necessary action in the matter.

New Delhi: Blackstone, GIC, Canada Pension Plan and Qatar Investment Authority are among the 25 global investment firms that have shown interest in buying DLF promoters' stake in its rental arm, a deal estimated at about $2 billion.

DLF, the country's largest realty firm, had in October last announced that its promoters will sell their 40% stake in the DLF Cyber City Developers (DCCDL). DLF owns the remaining 60% stake in DCCDL, which holds its bulk of office and retail complexes. The promoters will re-invest a significant part of the amount realized from the sale into DLF.

New Delhi, Feb. 7: Mercedes-Benz India, which had a dream run in 2015 with sales of 13,502 units, is likely to face the heat this year following a ban on vehicles with two-litre diesel engines in the national capital region (NCR).

"It (the ban) came as a massive surprise to us. It is very unfair. We have been totally affected by this," said Roland Folger, managing director and CEO of Mercedes-Benz India, at the Delhi Auto Expo 2016.

Mumbai: IRB Infrastructure Developers Ltd and GMR Infrastructure Ltd have sought the capital markets regulator’s approval to launch India’s first infrastructure investment trust (InvIT).

In the application to the Securities and Exchange Board of India (Sebi), both IRB and GMR have identified assets they want to list under these trusts.

Qatari fleet owner Halul Offshore Services Co. WLL has cancelled two of the 10 offshore oil exploration support vessels it ordered from L&T Shipbuilding Ltd in 2012 and 2013 as oil firms cut back production to deal with a steep fall in crude prices, reducing demand for vessels that supports oil rigs and platforms.

A spokesman for Halul Offshore confirmed the cancellation of two anchor handling, towing, supply and standby vessels (AHTSVs) with a bollard pull of 150 metric tonnes (mt), each costing $20 million.

Founded in August 2015 by Rahul Garg, a former Google employee with experience in building global products and running sales across Asia, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe. The company currently specializes in B2B procurement of industrial products such as MRO, Fasteners and Industrial Electricals and is partnering with manufacturers and distributors across these categories in India, China and other Asian countries. Moglix is also playing a role in facilitating online convenience and enabling supply chain efficiencies in business purchasing.

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