Business

Reliance Capital tumbled 10.26 per cent, Reliance Communications tanked 9.46 per cent, Reliance Infrastructure 8.75 per cent, Reliance Power 5.52 per cent and Reliance Home Finance 5 per cent on BSE.

The ministry has also asked the ICAI to intimate the 'reasons for issuing such announcement without any authority and without the specific approval of this ministry'.

A strong dollar in overseas markets and a lower opening of the domestic equity market weighed on the rupee, a currency dealer said.

The company further said it plans to have sufficient buffer stock to minimise potential disruption due to plant shutdown expected in the first week of April.

At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.73 a dollar. The local unit moved in a range of 71.76 to 71.30 during the session before finally ending at 71.45, a gain of 11 paise over its last close.

In a statement, the RBI said that with a view to enhance the operational freedom of banks in raising deposits, it is proposed to revise the definition of bulk deposits "as single rupee deposits of Rs 2 crore and above".

In the first policy review under Governor Shaktikanta Das, the six-member Monetary Policy Committee voted 4:2 in favour of the rate cut, while the decision to change policy stance was unanimous.

Mini segment cars comprising Alto and WagonR witnessed sales of 33,408 units as against 33,316 units in the year-ago month, marginally up by 0.3 per cent.

The Air India Asset Holding Ltd, a special purpose vehicle, has been set up as part of financial restructuring of the debt-laden national carrier.

This is the third straight monthly reduction in LPG rate. On December 1, subsidised LPG price was cut by Rs 6.52 per bottle and by Rs 5.91 on January 1.

After opening on a firm note at 70.92, the rupee climbed further to a high of 70.86 following dollar selling by exporters, before finally closing at 71.08, up 4 paise.

A Cobrapost expose on Tuesday said that Dewan Housing Finance Corporation Limited (DHFL) through layers of shell companies allegedly siphoned off Rs 31,000 crore out of total bank loans of Rs 97,000 crore.

During the day, the 30-share Sensex touched an intra-day high of 35,734.14 and dipped to a low of 35,375.51. It finally settled with a loss of 64.20 points, or 0.18 per cent, at 35,592.50.

The improvement in brand value was aided largely by the performance of the group's cash-cow Tata Consultancy Services, Brand Finance chief executive David Haigh said.

The rupee opened strong at 70.99 at the interbank forex market then gained further ground and touched 70.98 amid easing crude prices, displaying gains of 19 paise against the greenback over its last close.

Stock market may extend the range bound movement as global risk factors like the US-China trade talks and growth concern continue to gain investors' attention.