Business

Mauritius is one of the top sources of foreign direct investments into India.

The PwC report also said that up to 40 per cent of India's $10 trillion economy of 2034 could be derived from new solutions.

SBI had on the sidelines of Prime Minister Narendra Modi's visit to Australia, signed a pact sanctioning $1 billion loan to Adani Group's coal project in that country.

Industrial production was upwardly revised to 0.5 per cent year-on-year in August from 0.4 per cent earlier.

The partially convertible rupee closed at 61.4925/5000 per dollar compared with 61.55/56 on Tuesday.

The economic think-tank in its earlier projection had suggested that the Indian economy was likely to grow at 5.7 per cent in 2014-15.

The proposal to amend the FDI policy in construction development sector was approved by the Union Cabinet.

Hero, Tata Motors, HUL, M&M and ONGC are top gainers in the Sensex.

Moody's said the diesel deregulation will reduce the subsidy burden for the government, although fiscal savings are 'likely to be limited'.

Consolidated revenues grew 9.7 per cent at Rs 8,735 crore in the July-September quarter of this fiscal.

Assocham said the issuer of IPOs depends heavily on these intermediaries to make sure that all the legal procedures are met.

"The balance may change...but the operative requirement of having public sector undertakings (PSUs) for the good of the economy as a whole (remains)," the Vice President said.

Diesel is a government controlled commodity on which oil companies started to make maiden profit only last month.

The rupee resumed higher at 61.25 per dollar as against the last weekend's level of 61.35 at the Interbank Foreign Exchange (Forex) Market.

By reducing banks' reliance on overnight funding and shifting to a longer-term policy tool, the RBI hopes to force banks to plan their short-term cash needs better.

"There are aggressive tax plannings being undertaken by companies in certain situation," Revenue Secretary Shaktikanta Das said.