The rupee fell below the 60-level against the American currency after a gap of over one month by dropping 28 paise to 60.05 on sustained dollar demand from importers amid rise in crude oil prices.

The local currency moved in a range of 59.80 and 60.05 per dollar during the morning trade on Monday.

Eighteen public sector banks, including SBI and PNB, failed to fulfil the target for installing ATMs during 2013-14, leaving more than over 9,300 branches without cash vending machines. As part of the target, a total of 34,668 onsite ATMs were to be installed by PSU banks during the last fiscal.

However, they could set up only 25,331 such machines by March 2014, thus falling short by 9,337, as per Finance Ministry data. Installation of Automatic Teller Machines (ATMs), especially by public sector lenders, has been a major priority for the government's efforts to ensure financial inclusion. Pursuant to Budget 2013-14 announcement, public sector banks were required to ensure an onsite ATM in ever branch.

Various firms of Tata group have lined up capital expenditure worth over Rs 65,000 crore for the current fiscal.

The capex is part of respective medium-term strategies of the different companies covering all the business sectors of the group, ranging from engineering, materials, information technology and communications, consumer products, services, energy to chemicals.

The products, platforms and solutions (PPS) segment of Infosys contributes only 5.1% of the total revenue and bigger bets are now being placed that this would turn into a larger pie in days to come. The IT major has already started a separate subsidiary to focus on this segment and it remains to be seen what strategy.

Vishal Sikka will adopt to create a strong differentiation in the marketplace.

Though the stock markets have gone up, many offer good potential for returns. Quite a few still trade at a single-digit price to earnings (PE) ratio, despite expectations of high earnings growth over the next two years. Typically, a low PE stock indicates lower valuations. But, if the earnings growth is high compared to valuations, there is an opportunity. For, once the markets start to recognise the potential in these, valuation expansion takes place.

Prime Minister Narendra Modi on Saturday warned of “tough decisions” over the next couple of years to improve the country’s financial health, which he said may not go down well with some sections, and attacked the way the previous United Progressive Alliance (UPA) government had handled the economy.

Idea Cellular is trading higher by over 1% at Rs 137 in otherwise weak market, after the Reserve Bank of India (RBI) announced that foreign institutional investors (FIIs) can now purchase up to 49% stake in telecom operator. The FII limit in the company was 24% earlier.

“FIIs, through primary market and stock exchanges, can now purchase up to 49% of the paid-up capital of Idea Cellular Limited under the Portfolio Investment Scheme (PIS),” the RBI said in release on Friday.

Benchmark indices have extended losses and are trading lower by over 0.5% weighed down by capital goods and financial shares.

By 10:10, the Sensex was lower by 103 points at 25,125 levels and the Nifty declined 43 points at 7,499.

TVS Motor's Indonesian arm, PT.TVS Motor Company Indonesia, is looking at entering Laos, Cambodia, Malaysia and Turkey in 2014-15. TVS Motor also plans to launch a 125cc sports motorcycle and a superior skubek (scooter) in Indonesia this year. In FY14, PT TVS entered the Myanmar market. Its annual report says it sold 19,200 vehicles, three per cent more than in the previous year. Its domestic sales grew 12 per cent but exports were lower by three per cent. During the year, PT TVS exported 10,300 two-wheelers. The skubek category now accounts for 63 per cent of the two-wheeler market there. During the year, PT TVS launched its first skubek model, TVS Dazz, this year.

With Tata Motors shutting down its Nano manufacturing plant in Sanand for three-six weeks, vendors situated in the vendor park have also scaled down production.

“We too have had to curtail production. Frequency of orders from Tata Motors has been reducing due to high inventory at their Nano plant. As a result, we had seen inventory piling up at our plants,” said a vendor supplying electrical parts to the Sanand plant.

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