Briefly Business: PM wants steps to avoid R volatility

PM wants steps to avoid R volatility

PM wants steps to avoid Rupee volatility

new delhi: Prime Minister Manmohan Singh wants measures to avoid volatility in rupee,the FM,P Chidambaram,said.

Re closes at 4-1/2 mth high of 53.02

mumbai: The rupee gained

49 paise on Thursday to end at over 4-1/2-month high of 53.02 against the US dollar.

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Religare to sell 49% in MF arm for Rs 1k cr

mumbai: Religare Group is selling a 49% stake in its MF arm RAMC to US-based investment management firm Invesco for about Rs 1,000 crore.

CERC seeks responses on Mundra power hike

New Delhi: CERC has asked Coastal Gujarat Power and buyers of electricity from Mundra project to submit their response in a weeks time on tariff hike.

EU for $12 billion in sanctions against US

GENEVA: The EU is seeking about $12 billion in sanctions against the US as part of a dispute before the WTO involving subsidies to Boeing.

NSE,BSE seek KFA clarification

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Mumbai: The NSE and the BSE have sought clarifications from Kingfisher Airlines on reports that the carrier is in talks with foreign entities and domestic investors for stake sale.

BSE lowers stock circuit limits for KFA,UB Holdings

Mumbai: BSE has halved its circuit limits on shares of Kingfisher and United Breweries Holdings Ltd,capping their maximum movement in a day at 5 per cent and 10 per cent,respectively. The changes follow a sharp rally in share prices of the firms in the past few days.