- Reliance Industries Ltd., owner of the world's largest refinery, raised $1 billion in loans from banks.
- Largest motorcycle PTC India Ltd., the nation's largest power trader, is in talks with investors including Hong Kong- based SAIF Partners Ltd. on selling a stake in unit PTC India Financial Services Ltd.
- Pipavav Shipyard Ltd the Golden Ocean Group Ltd along with its two associate companies has withdrawn the arbitration proceedings against the company.
- Titagarh Wagons said a commercial court in France has declared the company as 'winner' of a bid for acquisition of assets and business of a French wagon.
- The Indian rupee continued to trade stronger in the afternoon session on Friday, tracking gains in domestic shares and the dollar's losses against major currencies overseas, especially the euro.
- The IMF raised India's growth forecast for 2010 to 9.5%, stating that favourable financing conditions and robust corporate profits will accelerate economic expansion. The IMF expects India's economy to grow 8.5% in 2011.
- Indian federal bond yields edged higher on Friday afternoon on jitters ahead of the results of the 120 billion rupee bond sale expected later in the day.
- The U.S. pledged to monitor China's undervalued yuan in the next three months for signs that Asia's fastest-growing market is living up to its commitments to help rebalance the global economy.
- The yen traded near a two-week low against the euro as stocks rose on signs the global economy will weather Europe's debt crisis, damping demand for the relative safety of Japan's currency. The dollar may rise to 90 yen, the highest level since June 23.
- Crude oil advanced in New York, heading for its biggest weekly gain since May, as equities rose in Asia and Europe, bolstering optimism that fuel demand may increase.
Summarized in association with Indian Share Market Blog.
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