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Indian equity benchmarks inches lower as IT weakness overpowers broader gains

March 12 (Reuters) – India’s equity benchmarks inched lower on Wednesday, as a drop in information technology stocks on concerns over U.S. growth weighed on broader gains. The Nifty 50 was down 0.27% to 22,438.25 as of 10:12 a.m. IST while the Sensex fell 0.22% to 73,943.99. They rose 0.3% each in early trade. U.S. President Donald Trump pledged to double tariffs on Canadian steel and aluminum but reversed course in just hours later, in rapid-fire moves that added to worries over the U.S. economy and spooked investors. Fears of a looming recession in the U.S. have sent ripples of

Rupee trades almost flat with 1 paisa lower at 87.22 against US dollar

Mumbai, Mar 12 (PTI) The rupee turned almost flat and traded with a marginal loss of 1 paisa at 87.22 against the US dollar in early trade on Wednesday amid volatile sentiment due to uncertainties over trade tariff. According to forex analysts, a strengthening American currency index and a recovery in crude oil prices also added pressure on the local unit, which was already weighed down due to selling in domestic equity and the continuous outflow of foreign capital. They said, market participants were also trading cautiously awaiting cues from macroeconomic data to be released in India and the US

Ambani’s Jio joins with Musk’s Starlink in surprise move

March 12 (Reuters) – Mukesh Ambani’s Reliance Jio said it has signed a deal with Elon Musk’s SpaceX to bring Starlink satellite internet services to India, a surprise move from the billionaires after being at odds for several months over how the country should grant them spectrum. The deal follows a similar partnership between Starlink and No. 2 telecom player Bharti Airtel announced for the India market a day before. Both deals are conditional upon Starlink obtaining government approval to begin operations in the country. The agreements come weeks after Indian Prime Minister Narendra Modi met with Elon Musk in

Opposition members in Rajya Sabha accuse govt of forcibly thrusting National Education Policy on states, impinging upon their autonomy

New Delhi, Mar 11 (PTI) Opposition members in Rajya Sabha on Tuesday accused the government of forcibly thrusting on states the National Education Policy and impinging on their autonomy. During the discussion on the working of Ministry of Education, Ritabrata Banerjee (TMC) and Kanimozhi NVN Somu (DMK) accused the Centre of withholding funds meant for education programmes in opposition ruled states of West Bengal and Tamil Nadu. “Without any consultations with the state governments, the NEP (National Education Policy) has been forcibly thrusted upon states,” Banerjee said adding the West Bengal government was forced to stop the four-year graduation course

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