Prime Minister Narendra Modi on Friday said his government was taking states on board for development of the country, asserting that India can move ahead only on the strong shoulders of the states and not from Delhi alone.

India is not going to progress from Delhi, Modi said while delivering the inaugural address at the Hindustan Times Leadership Summit in Delhi.

Tata Consultancy Services (TCS), Bharat Heavy Electricals Limited (BHEL), Adani Ports & Special Economic Zone (SEZ) and Rallis India have touched their respective 52-week lows on the Bombay Stock Exchange (BSE) after the Sensex slipped 243 points in early morning trade.

At 09:54 AM, the TCS was down 1% at Rs 2,328 after hitting a 52-week low of Rs 2,322 on the BSE. Shares of India's largest information technology services company by falling 8% in past one month as compared to 3% decline in the benchmark index.

Extending its losing streak for the third straight day, the rupee plunged by 34 paise to 66.99, hitting a two-year low against the US dollar in early trade on Friday on strong demand for the American currency from banks and importers amid sustained capital outflows. The rupee had last traded below 67 per dollar in September 2013.

Forex dealers said gains in the dollar against major global currencies and a lower opening in the domestic equity markets, weighed on the rupee.

Life for people in Tamil Nadu’s Chennai continues to be difficult though the rains have stopped in the capital.

Many areas in Chennai still remain under water and supplies of essentials were difficult, said residents.

The Delhi Assembly on Thursday approved a whopping 400% hike in basic salary of MLAs and Ministers besides hefty increase in perks and allowances, catapulting them among the highest paid lawmakers in the country.

As per provision of the bill cleared by the Assembly, the basic salary of legislators will rise from current Rs 12,000 to Rs 50,000 and their overall monthly package will be around Rs 2.1 lakh as against Rs 88,000 at present.

State-owned Coal India Ltd has estimated a capital investment of Rs 57,000 crore over the next five years to increase the production to 908.1 MT, as part of the road-map for one billion tonne coal production by 2020, Parliament was informed today.

"Coal India has assessed a tentative capital investment of Rs 57,000 crore for the next five years to ramp up its coal production to 908.1 MT (million tonnes) from the production level of 494.80 MT in 2014-15", Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha.

Shares of Bharat Heavy Electricals Limited (BHEL) has dipped 2% to Rs 169, its lowest level since March 2014 on the BSE.

In past four months, the stock has fallen 40% from Rs 283 on August 8, as compared to 8% decline in the S&P BSE Sensex.

The rupee fell by 13 paise to 66.72 against the dollar in early trade today due to fresh demand for the American currency from importers.

Gains in the dollar against major global currencies, bolstered by Federal Reserve Chair Janet Yellen's signal that the US economy looks strong enough for an interest rate hike this month and a lower opening in domestic equity markets, weighed on the rupee, dealers said.

Mumbai: India’s largest multiplex chain PVR Ltd may have to sell some of its screens in Delhi to get clearance for its Rs.500-crore acquisition of DT Cinemas, two people familiar with the development said.

According to the first of the two persons, who did not want to be identified, the Competition Commission of India (CCI) has raised concerns that the deal will give the combined entity a monopoly in certain parts of Delhi.

Flipkart has acquired a strategic minority stake in MapmyIndia (CE Info Systems Pvt. Ltd.), a company providing digital map data, GPS navigation, tracking, location-based apps and GIS solutions, to transform the technology of its supply chain.

Back in February 2009, MapmyIndia had secured $9 million from Qualcomm Ventures, Nexus India, KPCB and Sherpalo Ventures. KPCB and Sherpalo’s stake was bought by Lightbox in 2014.

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