Business highlights

DEL43 BIZ-LD STOCKS Sensex snaps 2-day winning run ahead of derivatives expiry Axis Bank sinks 6.5 pc post results Mumbai Market benchmarks closed in the red for the first time this week on Wednesday amid a bearish trend overseas and volatility ahead of expiry of monthly derivatives contracts.

Following are the top business stories at 1953 hours: DEL58 BIZ-ADANI PORTS-MYANMAR Adani Ports to exit Myanmar investment New Delhi: Adani Ports and Special Economic Zone Ltd (APSEZ) on Wednesday said it has decided to exit its investment in Myanmar by June next year. DEL43 BIZ-LD STOCKS Sensex snaps 2-day winning run ahead of derivatives expiry; Axis Bank sinks 6.5 pc post results Mumbai: Market benchmarks closed in the red for the first time this week on Wednesday amid a bearish trend overseas and volatility ahead of expiry of monthly derivatives contracts. DEL46 BIZ-LD- RUPEE Rupee declines by 7 paise to 75.03 on month-end dollar demand Mumbai: The rupee weakened by 7 paise to end at 75.03 against the US currency on Wednesday due to month-end dollar demand from importers and a muted trend in the domestic equities.

DEL28 BIZ-RESULTS-LD MARUTI Maruti Q2 net dips 66 pc to Rs 487 cr as chip shortage, rising commodity prices weigh on production New Delhi: The country's largest carmaker Maruti Suzuki India on Wednesday reported a 66 per cent decline in consolidated net profit at Rs 487 crore in the second quarter ended September 30, 2021, impacted by the ongoing semiconductor shortage and increase in commodity prices.

DEL31 BIZ-GOLD-PRICE Gold plunges Rs 244; silver tumbles Rs 654 New Delhi: Gold in the national capital on Wednesday plunged by Rs 244 to Rs 46,747 per 10 gram reflecting the decline in international precious metal prices, according to HDFC Securities.

DCM26 BIZ-LD RBI DG- MFI MFIs should not throw caution to wind for higher asset growth, returns: RBI DG Rao Mumbai: Reserve Bank of India Deputy Governor M Rajeshwar Rao on Wednesday said while the central bank will foster growth in the microfinance (MFI) sector, the lenders in the space should not throw caution to the wind to achieve higher asset growth and returns.

DCM40 BIZ-TAX-INFO-26AS CBDT expands Form 26AS info list; includes foreign remittances, MF buys New Delhi: The income tax department has expanded the list of high-value financial transactions which would be available to taxpayers in their form 26AS by including details of mutual fund (MF) purchases, foreign remittances, as well as information in ITRs of other taxpayers.

DCM14 BIZ-IPO-POLICYBAZAAR Policybazaar parent firm's IPO to open on Nov 1; price band set at Rs 940-980/share New Delhi: PB Fintech, which operates online insurance platform Policybazaar and credit comparison portal Paisabazaar, on Wednesday fixed a price band of Rs 940-980 a share for its Rs 5,710-crore initial share sale, which will open on November 1.

DCM51 BIZ-SEBI-SR SHARES Sebi eases eligibility criteria related to superior voting rights shares New Delhi: Markets regulator Sebi has relaxed the framework governing the issue of shares with superior voting rights (SR shares), a move that will help new-age technology companies.

DCM57 BIZ-FOOD-LD RATION SHOPS Govt proposes sale of small LPG cylinders, offering financial services via ration shops New Delhi: The Centre on Wednesday said it plans to allow retail sale of small LPG cylinders as well as offer financial services through fair price shops as part of its measures to enhance the financial viability of these outlets. DCM7 BIZ-RELIANCE-STERLING WILSON Reliance Group firm offers Rs 375/share to acquire 4.91 cr shares of Sterling and Wilson Solar New Delhi: Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 4.91 crore shares of Sterling and Wilson Solar for over Rs 1,840 crore.

DCM17 BIZ-PAYTM-SWISSRE Swiss Re to buy 23 pc stake in Paytm Insuretech for about Rs 920 cr New Delhi: Digital payments and financial services firm Paytm on Wednesday said Switzerland-based reinsurance major Swiss Re will buy a 23 per cent stake in Paytm Insuretech for about Rs 920 crore.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)