New Delhi: The Empowered Group of Ministers (EGoM) on Wednesday asked the Department of Telecom to prepare a matrix of reserve price of spectrum auction and its impact on tariffs and revenue to the government.
According to sources, DoT has been asked to prepare a matrix of various levels of reserve price and spectrum usage charge at every Rs 1,000 crore difference in descending order and the impact that would have on tariffs for end-consumer and the revenue accrued to the government.
New Delhi: The annual consumer price inflation slowed slightly in June to 10.02 per cent, government data showed on Wednesday, but food prices accelerated as concerns rose about below-average monsoon rains.
Despite the slight moderation in price rises last month, inflation remains "way above" comfort levels, central bank Governor Duvvuri Subbarao said on Monday.
Mumbai: The rupee depreciated by 10 paise to Rs 55.21 against the dollar in early trade on Wednesday on the Interbank Foreign Exchange as the American currency strengthened against the euro overseas.
However, sustained foreign funds inflows into the equity market capped the losses, traders said.
Mumbai: The BSE Sensex and NSE Nifty opened on a flat note due to lack of domestic cues. ONGC and Coal India topped the buying list, rising 1.5-2 per cent whereas Tata Motors and Hero Motocorp were top losers among largecaps.
The BSE benchmark rose 17 points to 17,122.44 and the NSE benchmark was up 3.35 points at 5,196.20.
Mumbai: Core inflation gives a better sense of future price trends since it is less volatile, Reserve Bank of India Governor Duvvuri Subbarao said on Tuesday. He was speaking at the RBI's sixth statistics day conference.
"If one takes a longer series of over three years, there is some evidence that core inflation does have statistically significant predictive power," Subbarao said in the speech.
Mumbai: The rupee gained 43 paise to trade at 54.88 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange as the American currency weakened against euro and other currencies overseas.
Dollar selling by exporters and banks, amid a higher opening in the domestic equity market also supported the rupee, dealers said.
Mumbai: The NSE Nifty closed lower for the fifth consecutive session on Tuesday, weighed down by capital goods, oil & gas, steel, auto and power stocks. The market started off trade with more than 100 points gap up following positive Asian cues, but that could not sustain for long as traders opted to book profits (amid monsoon worries) in second half of trade.
The BSE benchmark rose 1.99 points to close at 17,105.30 while the NSE benchmark declined 4.4 points to 5,192.85. But the broader markets fell more than benchmarks - BSE Midcap and Smallcap indices were down over 0.8 per cent.
New Delhi: India's headline inflation slowed to its lowest level in five months in June helped by a moderation in fuel prices, adding to pressure from business leaders for a cut both in interest rates and fuel subsidies to help revive the lacklustre economy.
The wholesale price index (WPI) rose a lower-than-expected annual 7.25 per cent in June, its slowest rise since January, following a drop in prices of some fuel items. Wholesale prices rose 7.55 per cent in May.
Mumbai: Reserve Bank Governor D Subbarao said the inflation numbers on both the wholesale and retail front are way above the central bank's comfort level.
Subbarao said, "we are way above the threshold" and a level of around 5 per cent on the headline inflation is the RBI's threshold.
New Delhi: Reliance Industries has repurchased shares worth Rs 2,512 crore from its public shareholders, making it the country's biggest share buyback programme ever while overtaking an earlier exercise by Piramal Healthcare.
With this, Mukesh Ambani-led RIL has managed to achieve nearly one-fourth of the targetted amount of Rs 10,440 crore from the buyback programme, which began in February 2012. The company can continue its buyback programme till January 19, 2013.