Business

Despite a spike in food prices pushing consumer inflation to an eight-month high, analysts believe the RBI would leave the door open for further easing.

RBI on Friday said it has imposed a penalty of Rs 5 lakh on Muthoottu Mini Financiers for violation of various regulatory norms.

Seven Indian companies, including Reliance Industries and Tata Motors, are among the world's 500 largest companies, according to a list compiled by Fortune that has been topped by retail giant Walmart.

Rupee on Thursday jumped by 21 paise at 63.39 -- its highest closing in more than two months -- against the US dollar.

The rupee depreciated 20 paise to close at 63.84 in Monday's trade due to the looming debt default crisis in Greece.

Rajan had asked central banks across the world to revisit "rules of the game" to find a solution, as he warned of problems similar to the Great Depression of 1930s emerging again.

SoftBank, which has said it will invest $10 billion in India over time, said on Monday that the companies had a minimum commitment of generating 20 gigawatts of energy.

Food prices are surging because of unseasonal rains as the supply deficit has not yet been made up. Governor Rajan said that he will not cut lending rates if inflation surges.

Shares of petrochemicals giant Reliance Industries ended 1.36 per cent higher at Rs 889.15 after the company said it will commercially start its much-awaited 4G telecom services by December.

EMIs of home, auto and other loans are likely to come down further with Finance Minister Arun Jaitley on Friday saying that banks have promised greater rate cuts in the coming days and weeks.

China's automobile market, the largest in the world, contracted in May as sales declined for the second consecutive month by 4.55% to 1.9 million units, according to official data released on Wednesday.

The Sensex ended up 359.25 points or 1.4 per cent at 26840.50, and the Nifty was 102.05 points or 1.3 per cent at 8124.45.

Tickets bought against the Monsoon Sale will be valid for travel from July 1 to September 30, the Air India said.

The telecom major further said the current structure for airwaves auction in the country and piecemeal release of new spectrum are creating capital constraints for operators looking to provide quality services for subscribers.

The company has withdrawn discounts that it was offering for online purchase of mobile data packs, bringing the prices at par with internet packs sold offline through retailers.

The Sensex was down 44.93 points at 26768.49 and the Nifty slipped 15.95 points at 8114.70.