Evening bulletin: Quick guide to top headlines on Wednesday
Here are the top headlines of the day:
August 20, 2013 / 19:59 IST
Here are the top headlines of the day:
Sensex down 61 pts; banks up as rupee, bond yields recoverThe market fell for the third consecutive session, but closed off day’s low Tuesday on short covering in most beaten down stocks banks and FMCG. The sharp recovery in rupee from its record low of 64.11 per dollar also helped the market recoup some of its losses.Hind Zinc up 12% as legal hurdles for stake sale clearedHindustan Zinc climbed around 12 percent to Rs 117.40 on news that legal hurdles surrounding divestment in the firm had have been cleared, according to CNBC-TV18 sources. Similarly, Bharat Aluminium Company's (BALCO's) stake sale has also been cleared of legal issues, say sources.
National Spot Exchange (NSEL) first payout todayNational Spot Exchange (NSEL) says that it has got Rs 81.1 crore so far in its escrow account for payout. The first payout by NSEL will happen by 6 pm today. The exchange proposed to pay Rs 174 crore as part of first week payout today.
Rupee breaches 64/dollar; down 5% in last 6 daysThe rupee has breached 64 against the US dollar Tuesday, trading at all-time low of 64.05, down over 1.4 percent compared to previous close. It is down 5 percent in last 6 days.Unitech shares up 3%, buyers shortlisted for Gurgaon IT SEZUnitech shares gained more than 2 percent in afternoon trade Tuesday as the Delhi-based real estate firm shortlisted GIC and Blackstone for selling stake in its Gurgaon IT SEZ for more than Rs 2,700 crore, reports CNBC-TV18 quoting sources.
JP Power may sell stake in 2 hydro power projsStruggling to cut down its debt, Jaiprakash Power Ventures is looking to sell stake in its two hydro power projects. CNBC-TV18 learns from sources that the two power projects include its 300 MW Baspa and 1200 MW Karcham Wangtoo plants.
India raises FDI cap in asset reconstruction cos to 74% India raised the cap on foreign direct investment in asset reconstruction companies (ARC) to 74 percent from 49 percent, the Reserve Bank of India (RBI) said on Monday, another measure to attract capital inflows to support a sagging rupee.JP Morgan downgrades Indian shares to 'neutral'JPMorgan has downgraded Indian shares to "neutral" from "overweight", citing strain in balance of payments, while upgrading China shares to "neutral" from "underweight".April-June quarter GDP growth seen below 4.8-4.5%: SourcesThe economy remains under considerable stress and the government now expects no fireworks from the first quarter GDP numbers. Government sources tell CNBC-TV18's Aakansha Sethi that the growth rate for the April to June quarter will be below 5 percent.
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