Business highlights

Following are the top business stories at 1930 hours: DEL36 BIZ-FINMIN-EXTERNAL-DEBT India's external debt rises 2.1 pc to USD 570 billion New Delhi: India's external debt rose modestly by 2.1 per cent year-on-year to USD 570 billion as of March-end 2021, notwithstanding the COVID-19 pandemic, according to the finance ministry.

DCM48 CAB-LD EXPORTS Govt to list ECGC, infuse Rs 4,400 cr capital in 5 yrs New Delhi: The Cabinet on Wednesday approved Rs 4,400-crore capital infusion in the state-owned credit insurance provider ECGC Limited and its listing through an initial public offering. DCM54 BIZ-LD PIRAMAL-DHFL Piramal Group completes DHFL acquisition; pays Rs 34,250 cr to creditors Mumbai: Piramal Enterprises (PEL) on Wednesday said it has completed the acquisition of Dewan Housing Finance (DHFL) by paying Rs 34,250 crore to creditors of the troubled housing finance company.

DEL34 BIZ-LD RUPEE Rupee slides 8 paise to end at over 1-mth low against dollar Mumbai: The rupee slid by 8 paise to close at a more than one-month low of 74.14 against the US dollar on Wednesday, declining for a fourth session in a row due to month-end dollar demand and a stronger greenback in the global markets amid rising bond yields.

DEL28 BIZ-LD STOCKS Sensex skids for 2nd day; HDFC twins top drags Mumbai: Equity benchmarks buckled under selling pressure for the second straight day on Wednesday, weighed by banking and finance counters, as global sentiment remained risk-averse amid spiking US bond yields and inflation concerns. DEL24 BIZ-GOLD-PRICE Gold jumps Rs 264; silver climbs Rs 362 New Delhi: Gold in the national capital on Wednesday rose by Rs 264 to Rs 45,123 per 10 gram with recovery in global precious metal prices along with rupee depreciation, according to HDFC Securities.

DCM31 BIZ-RELIANCE-ARAMCO Reliance backs appointment of Aramco chairman on board New Delhi: Billionaire Mukesh Ambani's Reliance Industries Ltd on Wednesday defended the appointment of Saudi Aramco Chairman Yasir Al-Rumayyan on the company board, saying all regulatory criteria for his appointment as an independent director were met, pending shareholder approval on the decision.

DCM61BIZ-SEBI-MF Sebi introduces swing pricing mechanism for debt mutual fund schemes New Delhi: Capital markets regulator Sebi on Wednesday decided to introduce a swing pricing mechanism for open-ended debt mutual fund schemes, a move that will discourage large investors from sudden redemptions.