Business

Forex dealers said besides dollar's gains against other currencies overseas, higher dollar demand from oil importers for the American currency put pressure on the rupee.

Realty shares were the worst performers, with HDIL leading losers. The stock crashed 20 per cent after rating agency CARE cut the ratings of the company's bonds.

Morgan Stanley said India's economy is likely to grow at 6 per cent due to factors like lower-than-expected expansion in the current fiscal.

HSBC says it expects 50 basis points of additional rate cuts in the calendar year 2013.

The second round of auction is underway and it is expected that the auction will end by the third round.

L&T shares were down 1.6 per cent as of 9:25 am.

Walmart officials will now meet the probe committee on March 22.

The New Delhi-based developer, founded by billionaire KP Singh, is expected to sell about 81 million shares.

He said that three institutes were asked to make an estimate of the black money and they were working on it.

Other major gainers included Jindal Steel (up 2.9 per cent), Tata Power (up 2.7 per cent) and Bajaj Auto (up 2.6 per cent).

On Wednesday, the pre-Budget Economic Survey had projected an optimistic 6.1 to 6.7 pc growth in 2013-14.

Funds provided by the Centre as an aid to develop and train state police forces have also been hiked.

Presenting the Union Budget for 2013-14, Chidambaram mentioned the word 'women' as many as 24 times.

The government had earlier approved an expenditure of Rs 18,500 crore on development of infrastructure for the project.

Institutions allowed to issue tax-free bonds raised Rs 30,000 crore in 2011-12, and are expected to raise about Rs 25,000 crore in 2012-13.

As per the fiscal consolidation roadmap, the government plans to reduce fiscal deficit to 3 per cent by 2016-17.