Business highlights

Following are the top business stories at 2050 hours: DEL40 BIZ-RBI-ECONOMY Waning input cost pressure, rising investments herald upturn in capex cycle: RBI article Mumbai: Waning input cost pressures, buoyant corporate sales and rising investments in fixed assets are heralding the beginning of an upturn in the capex cycle in India will contribute to speed up growth momentum in the economy, said an RBI article on Tuesday.

DCM88 BIZ-SEBI-BUYBACK Sebi to gradually phase out share buyback through stock exchange mechanism Mumbai: Capital markets regulator Sebi on Tuesday decided to gradually phase out buyback of shares by companies through the stock exchange route to address the drawbacks associated with the existing mechanism.

DEL55 BIZ-2NDLD STOCKS Markets recoup most of intra-day losses on fag-end buying Mumbai: Equity benchmarks recovered most of their intra-day losses to close modestly lower on Tuesday amid buying in index majors Reliance Industries and Tata Consultancy Services despite lacklustre global cues.

DEL57 BIZ-LD-RUPEE Rupee falls by 8 paise to 82.70 against US dollar on firm crude oil Mumbai: The rupee depreciated by 8 paise to settle at 82.70 against the US dollar on Tuesday as investors turned cautious in view of a negative trend in domestic equities and rising crude prices in the global markets.

DEL50 BIZ-RBI-INFLATION 'Revenge rebound in spending' generalising price pressures: RBI paper Mumbai: The initial inflationary pressure was delivered by successive supply shocks but as their impact waned, a ''revenge rebound'' in spending is generalising price pressures and making them persistent, according to an RBI paper that has analysed inflation trajectory in the country after February 2022.

DEL52 BIZ-SOCIAL INDEX-2NDLD RANKING Puducherry, Lakshadweep, Goa best performers in social progress index New Delhi: Puducherry, Lakshadweep and Goa have emerged as best-performing among all states and Union Territories in the Social Progress Index (SPI), while Jharkhand and Bihar as worst, according to a report mandated by the Economic Advisory Council to the Prime Minister (EAC-PM).

DCM5 BIZ-AUTO-TAX-MARUTI Uniform tax on small, big cars will not augur well for auto industry growth: Maruti Suzuki Chairman New Delhi: The regulatory burden is the highest on small cars, a key segment of the Indian automobile industry and having a uniform tax structure across all segments of vehicles will not augur well for the sector growth, according to Maruti Suzuki India Chairman RC Bhargava.

DEL58 BIZ-LD GOLD-PRICE Gold gains Rs 38; silver declines Rs 328 New Delhi: Gold price rose Rs 38 to Rs 54,740 per 10 grams in the national capital on Tuesday, according to HDFC Securities.