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Rupee rises 10 paise to close at 85.82 against US dollar

Mumbai, Jul 15 (PTI) The rupee appreciated 10 paise to close at 85.82 (provisional) against the US dollar tracking the weakness of the greenback in the overseas market and a decline in global crude oil prices. However, foreign fund outflows, along with uncertainties on the outcome of the ongoing India-US trade talks, capped sharper gains in the local unit, according to forex traders. An Indian commerce ministry team is in Washington for another round of talks on the proposed bilateral trade agreement (BTA). The four-day talks, which started on Monday, will conclude on Thursday. At the interbank foreign exchange, the

Stock markets cut short four-day decline; Sensex rises 317 pts on gains in auto, pharma shares

Mumbai, Jul 15 (PTI) Stock markets snapped the four-day falling streak on Tuesday with the benchmark Sensex rebounding by 317 points on buying in auto and pharma shares amid a decline in retail inflation to a more than six-year low, nearing the RBI’s comfort zone. The 30-share BSE Sensex climbed 317.45 points or 0.39 per cent to settle at 82,570.91. During the day, it jumped 490.16 points or 0.59 per cent to 82,743.62. The 50-share NSE Nifty edged higher by 113.50 points or 0.45 per cent to 25,195.80. In the last four trading days, the Sensex dropped 1,459.05 points or

‘Objectionable’ cartoons on PM, RSS: Supreme Court grants protection to cartoonist

New Delhi, Jul 15 (PTI) The Supreme Court on Tuesday granted protection to cartoonist accused of sharing alleged objectionable cartoons of Prime Minister Narendra Modi and RSS workers on social media. A bench of Justices Sudhanshu Dhulia and Aravind Kumar said if he shared any more offensive posts on social media, the state was free to take action against him under law. The top court was miffed over the alleged abusive online posts and said, “Log kisi ko bhi, kuch bhi keh dete hain (People say anything to anyone)’.” Hemant Malviya challenged in the apex court a Madhya Pradesh High

India’s car sales to dealers hit 18-month low in June, industry body data shows

July 15 (Reuters) – Indian automakers’ car sales to dealers slid to an 18-month low in June, data from an industry body showed on Tuesday, amid weak demand in urban areas. Urban Indians have tightened discretionary spending for a better part of this year, with wage hikes lagging the growth seen in previous years. Car makers delivered 312,849 units to dealers last month, the Society of Indian Automobile Manufacturers said in a statement, down 7.4% from 337,757 units a year before. For the June quarter, car sales to dealers slipped 1.4% to a two-year low. On a quarter-on-quarter basis, sales

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