Business News

After plunging to a record low in Wednesday's trade, the rupee recovered by 29 paise to trade at 54.23 against the dollar on the Interbank Foreign Exchange market in early trade on Thursday on selling of US currency by banks.

The BSE benchmark Sensex recovered by over 151 points in early trade on Thursday, after Wednesday's losses, on fresh spell of buying by funds and retailers amid a firming trend on the other Asian bourses.

Bajaj Group's financial services holding company Bajaj Finserv on Wednesday said it plans to raise about Rs 1,000 crore through issue of securities.

Shares of IT firm Patni Computer Systems will stop trading on the National Stock Exchange (NSE) from May 21, pursuant to a voluntary delisting by the company.

Oriflame on Wednesday said it plans to launch around 200 new products across various segments, including hair care and fragrances, in India in 2012.

GMR Infrastructure on Wednesday said it has raised Rs 200 crore through allotment of secured non-convertible debentures to ICICI Bank Ltd.

Korean electronics giant Samsung has dethroned Finnish major Nokia as the top mobile handset maker with sales of 86.6 million units in 2011, research firm Gartner said on Wednesday.

The government on Wednesday said there was no question of any doubt on the credibility of the industrial production data released by the Ministry of Statistics and Programme Implementation every month.

India is looking at the possibility of importing liquefied shale gas from the US, as part of efforts to look at alternative sources to meet its energy security needs.

UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan will arrive at New Delhi on Thursday on a two-day visit during which he will hold bilateral talks on key issues including economic relations and India's energy security.