Business

Brent crude futures rose by as much as 19.5% to $71.95 per barrel, while WTI surged around 15% to $63.34 before paring gains to trade 10-12% higher later in the day.

At 11:11 am, shares of Equitas Holdings were trading at Rs 100.35, down 14.3%, after hitting an intra-day low of Rs 96.25. The stock has fallen nearly 19% in the last one year.

Top gainers in the Sensex pack on Friday included Infosys, TCS, Kotak Bank, Maruti, M&M, Tech Mahindra, HUL, HCL Tech, ITC and PowerGrid, rising up to 1.16 per cent.

The bank unions are also pressing for expeditious wage revision, the introduction of the five-day week and other demands.

At the interbank foreign exchange, the rupee opened at 71.46, then gained further ground and touched a high of 71.30, registering a rise of 36 paise over its previous close.

Tata Motors Ltd shares gain nearly 8% after Jaguar Land Rover’s retail sales in August came in at 34,176, down 6.7% compared with the year-ago period.

After touching a high of 37,145.45, the 30-share index was trading 89.72 points, or 0.24 per cent, higher at 37,235.17 at 0950 hours, while the broader Nifty rose 21.55 points, or 0.20 per cent, to 11,024.60.

The investigation found that SRU Securities had contributed to positive last-traded price (LTP) on many occasions.

The sum total of India's furniture, electronic appliance and two-wheeler rental markets is roughly at $ 1.5 billion, close to 7 per cent of India's total market cap.

Shah said Chidambaram targeted him to protect the interest of his 'pet exchange' as their dominance was threatened by MCX-SX, which had got the licence to run a full-fledged stock exchange.

Sectors which attracted maximum foreign inflows during April-June 2019-20 include services (USD 2.8 billion), computer software and hardware (USD 2.24 billion), telecommunications (USD 4.22 billion), and trading (USD 1.13 billion).

After rising 167 points in the first 15 minutes of the session, Sensex was trading 96.97 points, or 0.26 per cent, higher at 36,821.71 at 0930 hours, while the broader Nifty rose 34.70 points, or 0.32 per cent, to 10,879.35.

Frankfurt-based Telefunken Licenses GmbH, which owns the trademark rights of the company, will enter India with a local partner. Telefunken is brought in India by Japan-based Toyoichi Tsusho Co which in May acquired the right to use the brand.

The Indian currency came under pressure after official data released on Friday showed that India's GDP growth fell to an over six-year low of 5 per cent in the June quarter.

After gyrating 568 points during the day, the 30-share Sensex ended 263.86 points, or 0.71 per cent, higher at 37,332.79. It hit an intra-day high of 37,397.97 and a low of 36,829.81.

Damodaran reiterated that while the two promoters, who have known each other for over 30 years, continue to be in dialogue, all residual issues have been addressed with the new related-party transaction policy in place.