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Axis Bank promoted Axis Mutual Fund has launched its first equity fund, Axis Equity Fund, a diversified scheme for investing in Nifty stocks.

Faced with a strike threat by its pilots, Air India paid a month’s incentives and allowances to its 30,000 employees as it prepares for a crucial meeting of its Board tomorrow to decide on major cost-cutting initiatives.

Anil Ambani-led Reliance Natural Resources Ltd Tuesday opposed a move initiated by the oil ministry to become a party to the dispute over natural gas with Mukesh Ambani’s Reliance Industries and termed the attempt “dishonest and collusive”.

Finance minister Pranab Mukherjee on Tuesday said the fiscal stimulus will have to continue to generate domestic demand till there is a robust recovery in the global economy.

Silver and gold declined in the bullion market here on Tuesday on stockists selling, influenced by a weakening overseas trend.

Snapping a four-day rally, the Bombay Stock Exchange benchmark Sensex on Tuesday declined over 58 points on profit-selling even as the government said stimulus measures would continue till robust global economic recovery

Reliance Industries counsel on Tuesday said that there is no question of out of court settlement in the dispute over the supply of 28 million units of natural gas for 17 years at $2.34 per unit to Anil Ambani’s RNRL.

Mukesh Ambani-run Reliance Industries announced discovery of an oilfield 130 km from Ahmedabad in Gujarat, its second major find after the offshore MA field in the Krishna Godavari basin.

The BSE’s benchmark Sensex turned weak at midsession losing over 79 points, as investors offloaded stocks to book profits. The Sensex, which commenced the day higher by 179 points, fell 79.50 points at 1300 hrs.

REI Agro Ltd, a leading Indian basmati rice processing company, announced that it has successfully placed an offering of $105 million for foreign currency convertible bonds.

Continuing with its rising streak for the fifth day, the rupee appreciated by 6 paise in early trade today to hit a three-week high at 46.39 against the US dollar, supported by firming Asian stocks.

Union finance minister Pranab Mukherjee says the government will continue to import food items to meet any supply shortfall

Aims to grow operating margin to 15-20% next 3 years; wants to expand, hire people in India; CEO Carol Bartz says ‘very happy’ with investment in China’s Alibaba

The company announced its first oil discovery in its exploration block in the Cambay Basin off Gujarat

The Indian rupee was unable to hold on to an early rise to three-week highs gains on Tuesday, losing ground to end slightly weaker after the stock market posted its first fall in five days.

The dollar edged up on Tuesday, reversing some of its recent losses but staying close to a 15-month low against a currency basket, while sterling fell sharply after a warning on the UK from ratings agency Fitch.

Rupee erased early gains and turned weaker on Tuesday afternoon hit by losses in the domestic share market. At 1:56 pm, the partially convertible rupee was at 46.56/57 per dollar, weaker than 46.46/47 at close on Monday.

Raghuram Rajan proposes joint Asian response to foreign fund inflows.

Investors looked to return to leveraged carry trades, supporting the euro and high-yielders. Dollar seen losing ‘global reserve currency’ status | Forex Converter