Nifty opened the day with down trend on weak global cues and remained down in the first half of trade; even disappointing IIP data weighed on the markets. But outstanding performance by SBI post better-than-expected quarterly numbers helped the index to recover sharply in the last couple of hours of trade.
India's mines ministry proposed mining companies allocate as much as 26 percent of their profit to develop the area where they operate, dropping an earlier proposal to also give residents an equal stake in the projects.
Monetary policy action taken by the Reserve Bank of India should start to show its impact on inflation over the next 6 to 12 months, a central bank deputy governor has said.
India's mines ministry proposed mining companies allocate as much as 26 percent of their profit to develop the area where they operate, dropping an earlier proposal to also give residents an equal stake in the projects.
Monetary policy action taken by the Reserve Bank of India should start to show its impact on inflation over the next 6 to 12 months, a central bank deputy governor has said.
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