Business highlights

Following are the top business stories at 2020 hours: DEL94 BIZ-2NDLD GST-COMPENSATION 12 states demand extension of GST compensation beyond June Chandigarh: About a dozen states on Wednesday pitched for extending by a few years the compensation paid to states for revenue lost from the implementation of the goods and services tax (GST) regime.

DEL103 BIZ-GST-INFLATION Rate tweaks to make up for inefficiencies in value chain; states conscious of inflation impact: FM Chandigarh: Finance Minister Nirmala Sitharaman on Wednesday said any increase in GST rates under the rate rationalisation exercise is intended to make up for the 'inefficiencies' in the value chain.

DEL99 BIZ-LD-RUPEE Rupee slides 18 paise to close at all-time low of 79.03 against US dollar Mumbai: Falling for the fourth session in a row, the rupee slid by 18 paise to close at a record low of 79.03 against the US dollar on Wednesday, weighed down by a rise in crude oil prices, a strong dollar overseas and persistent foreign capital outflows.

DEL87 BIZ-GENNOVA-VACCINE Gennova Biopharmaceuticals ready with 70 lakh Gemcovac-19 vaccine dosages New Delhi: Gennova Biopharmaceuticals Ltd on Wednesday said it is ready with 70 lakh dosages of its Gemcovac-19 vaccine, the first indigenously developed mRNA vaccine against COVID-19 to be approved for restricted emergency use in adults.

DEL75 BIZ-LD-STOCKS Stocks halt 4-day winning run, Sensex down 150 pts on weak global markets Mumbai: Snapping its four-day winning run, benchmark Sensex declined by over 150 points on Wednesday due to profit booking in IT, FMCG and banking shares following weak global trends and persistent foreign capital outflows.

DEL104 CAB-2NDLD-AGRICREDIT Govt approves Rs 2,516 crore scheme for computerisation of 63,000 Primary Agriculture Credit Societies New Delhi: The Centre on Wednesday decided to computerise all functional 63,000 Primary Agriculture Credit Societies (PACS) over the next five years with a budget outlay of Rs 2,516 crore in order to improve efficiency, transparency and accountability in their operations.

DEL91 CAB-LD OIL Govt gives ONGC, Vedanta freedom to sell crude oil New Delhi: The government on Wednesday allowed firms like ONGC and Vedanta to sell locally produced crude oil to any Indian refinery for turning it into fuel, such as petrol and diesel, as it deregulated one of the last few avenues that were still under its control.

DEL83 BIZ-LD TWITTER Twitter gets time till July 4 to comply with all govt orders New Delhi: The government has issued a notice to Twitter to comply with all its past orders by July 4, an official source said on Wednesday.

DEL36 BIZ-SEBI-LD NSE Sebi penalises NSE, former chief Chitra Ramkrishna, 16 others in 'dark fibre' case New Delhi: Sebi has imposed a penalty totalling Rs 44 crore on 18 entities, including National Stock Exchange (NSE), its business development officer Ravi Varanasi, former MD and CEO Chitra Ramkrishna and her adviser Subramanian Anand along with certain stock brokers in the 'dark fibre' case.

DCM21 BIZ-NITI REPORT-LD GREEN HYDROGEN India needs to form Green Hydrogen Corridors: NITI Aayog New Delhi: India needs to form Green Hydrogen Corridors and governments can look at providing grants to startups as well as support entrepreneurs to promote green hydrogen, NITI Aayog said on Wednesday.

DCM53 BIZ-RBI-LD GOVERNOR Proper interpretation of data necessary for more informed decision making: RBI Governor Mumbai: RBI Governor Shaktikanta Das on Wednesday emphasised the need for proper interpretation of data to facilitate more informed decision making as it will bring clarity in communication from decision makers as well as formation of rational expectations from market participants.

DEL46 BIZ-GOLD-PRICE Gold declines Rs 176 amid weak global trends New Delhi: Gold price in the national capital fell by Rs 176 to Rs 50,649 per 10 grams on Wednesday, reflecting a decline in international precious metal prices, according to HDFC Securities.