Business Highlights

Following are the top business stories at 1935 hours: DEL 57 CAB-LD GEM-COOPERATIVES Cabinet allows procurement by cooperatives through GeM portal New Delhi: The Union Cabinet on Wednesday approved a proposal to expand the mandate of Government e-Marketplace (GeM) by allowing procurement by cooperatives.

DEL 47 BIZ-LD GST-COLLECTION GST revenues up 44 pc at nearly Rs 1.41 lakh cr in May New Delhi: GST revenues bucked the two-month rising trend in May and stood at nearly Rs 1.41 lakh crore, registering a year-on-year increase of 44 per cent.

DEL 58 BIZ-LD STOCKS Sensex extends losses for 2nd day in choppy trade; IT, FMCG counters top drags Mumbai: The Sensex and Nifty nursed losses for the second straight session on Wednesday, pressured by steep declines in IT, FMCG and pharma counters amid a mixed trend overseas.

DEL 52 BIZ-RUPEE-CLOSE Rupee recovers from record low, spurts 20 paise to 77.51 per US dollar Mumbai: The rupee on Wednesday recovered from its record low to close 20 paise higher at 77.51 (provisional) against the American currency.

DEL 25 BIZ-ATF-PRICE-CUT ATF price cut by 1.3 pc, commercial LPG rate reduced by Rs 135 New Delhi: Jet fuel prices on Wednesday were cut by 1.3 per cent -- the first reduction after 10 rounds of price hikes -- on softening international crude oil rates.

DEL 18 BIZ-PMI-MANUFACTURING India's manufacturing sector growth steadied in May despite high inflation New Delhi: India's manufacturing sector growth steadied in May, with new orders and production increasing at similar rates to those registered in the previous month, while demand showed signs of resilience and improved further in spite of another uptick in selling prices, a monthly survey said on Wednesday.

DEL 63 BIZ-GOLD-PRICE Gold declines by Rs 353; silver drops Rs 123 New Delhi: Gold in the national capital on Wednesday declined by Rs 353 to Rs 50,509 per 10 grams amid muted global trends along with rupee appreciation, according to HDFC Securities.

DEL 19 BIZ-PNB-RATE PNB raises benchmark lending rate by 0.15 pc; EMIs to go up New Delhi: State-owned Punjab National Bank (PNB) on Wednesday raised its marginal cost of funds-based lending rate by 15 basis points or 0.15 per cent across all tenures, a move that will lead to an increase in EMIs for borrowers. DCM 46 BIZ-LD AUTO SALES Automakers report robust domestic dispatches in May as demand remains strong New Delhi: Leading carmakers Maruti Suzuki, Hyundai and Tata Motors reported robust dispatches to dealers in May on the back of strong demand for passenger vehicles across regions, even as the global semiconductor shortage continued to impact production.

DCM 22 BIZ-HDFC-RATE HDFC hikes lending rate by 5 bps; loan to become dearer New Delhi: Mortgage lender HDFC Ltd on Wednesday announced an increase in its benchmark lending rate by 5 basis points (bps), a move that will make loans dearer for both existing and new borrowers.

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