Business highlights

Following are the top business stories at 2050 hours: DEL54 BIZ-2NDLD-STOCKS Sensex, Nifty rebound over 1 pc on gains in banking, IT shares, snap 4-day losing streak Mumbai: Benchmark BSE Sensex and Nifty rallied more than 1 per cent on Monday on heavy buying in financials, IT and oil stocks after a four-day losing run.

DEL53 BIZ-LD RUPEE Rupee gains 17 paise to 82.65 against US dollar on stocks rally Mumbai: The rupee appreciated 17 paise to close at 82.65 against the US dollar on Monday, as heavy buying in domestic equities and a rising appetite for riskier assets strengthened investor sentiment.

DEL47 BIZ-LD-MOTHER DAIRY-MILK PRICE Mother Dairy hikes milk prices by Rs 2/litre; Amul says no plan to increase New Delhi: Mother Dairy hiked milk prices by Rs 2 per litre in the Delhi-NCR market effective Tuesday, citing an increase in its procurement rate of raw milk from producers.

DCM22 BIZ-TEXTILES-PLI PLI scheme for textiles attracts Rs 1,536 cr in investments: Govt New Delhi: The Rs 10,683-crore production-linked incentive scheme for India's textiles sector attracted investments of Rs 1,536 crore as approval letters were issued to 56 applicants who met the eligibility criteria, the government said on Monday.

DCM44 BIZ-LD ADVENT-SUVEN PHARMA Suven Pharma promoter to sell 50.1 pc stake PE fund Advent for Rs 6,313 cr Mumbai: Suven Pharmaceuticals promoter Jasti family is selling a 50.1 per cent stake in the company for Rs 6,313.08 crore to global private equity investor Advent International, according to regulatory filings.

DCM35 BIZ-CHANDRASEKARAN-ECONOMY India well positioned to continue to be fastest growing major economy next year: Chandrasekaran New Delhi: India is well positioned to continue to be the fastest-growing major economy next year, which may mark the lowest global growth since the millennium began barring the pandemic and the global financial crisis, according to Tata Sons Chairman N Chandrasekaran.

DEL14 BIZ-YEAR-RBI Missed inflation target, digital currency pilot mark RBI's 2022 map; growth vector to dominate ahead Mumbai: The Reserve Bank of India failed to deliver on its contracted inflation target for the first time, started fiat digital currency pilot and finally saw its efforts to improve bank balance sheets see fruition in 2022, making it a mixed year for the central bank.

DEL56 BIZ-LD GOLD-PRICE Gold rises Rs 121; silver advances Rs 100 New Delhi: Gold prices rose by Rs 121 to Rs 54,721 per 10 grams in the national capital on Monday, according to HDFC Securities.