BUSINESS HIGHLIGHTS

New Delhi, Dec 27 (PTI) Following are the top business stories at 2025 hours:
    
     DEL92 MANMOHAN-RUPEE-CHEQUE
     * When Manmohan Singh wrote a cheque for gains accruing from rupee devaluation!
     New Delhi: He held an overseas bank account that had his earnings from working abroad. The value of his savings, in rupee terms, went up following the July 1991 decision of the government to devalue the Indian currency. *

     DEL74 BIZ-RBI-CAD
     * CAD moderates marginally to 1.2 pc of GDP in Q2: RBI data
     Mumbai: India's current account deficit (CAD) moderated marginally to USD 11.2 billion or 1.2 per cent of GDP year-on-year in the July-September quarter of 2024-25, according to Reserve Bank data released on Friday. *

     DEL107 BIZ-LD RUPEE
     * Rupee falls 21 paise to hit fresh record low of 85.48 against US dollar
     Mumbai: The rupee on Friday registered the steepest fall in almost two years to hit its lifetime intraday low of 85.80 before a suspected central bank intervention helped recover some of its losses and settled 21 paise lower at a record low of 85.48 against the US dollar due to a strong greenback amid increased month-end demand from banks and importers. *

     DEL65 BIZ-LD-STOCKS
     * Sensex rises 226 pts on buying in bank, auto stocks
     Mumbai: Benchmark BSE Sensex rose by 226 points while Nifty settled above the 23,800 mark on Friday following gains in auto and banking shares even as investors turned cautious due to FII outflows and a record fall in the rupee. *

     DEL72 MANMOHAN-2NDLD-INDIA INC
     * Adani, Chandrasekaran lead India Inc in paying tributes to Manmohan Singh
     New Delhi: Billionaire Gautam Adani, Tata Sons Chairman N Chandrasekaran and business tycoon Anil Ambani led India Inc. in paying tributes to former Prime Minister Manmohan Singh, describing him the architect of economic reforms and one of the tallest leaders. *

     DEL106 BIZ-3RD LD ULTRATECH STAR CEMENT
     * UltraTech to acquire minority stake in Star Cement, cement war to intensify further
     New Delhi: Leading cement producer UltraTech Cement on Friday announced the acquisition of a minority 8.69 per cent stake in Meghalaya-based Star Cement from the promoters in a deal worth Rs 851 crore, intensifying the competition with Adani Group entity Ambuja Cements for cement assets. *

     DCM54 BIZ-SURVEY-CONSUMPTION
     * Rural, urban consumption inequality dips during Aug 2023-July 2024: Govt Survey
     New Delhi: Consumption inequality in rural as well as urban areas declined during August 2023-July 2024 period as compared to a year ago, according to the latest Household Consumption Expenditure Survey released on Friday. *

     DCM41 BIZ-RBI-PPI-UPI
     * RBI permits UPI transactions via prepaid payment instruments using third-party apps
     Mumbai: The Reserve Bank on Friday allowed prepaid payment instruments holders to make and receive UPI payments through third-party mobile applications. *

     DCM45 BIZ-NCLT-HERO ELECTRIC
     * NCLT directs initiation of insolvency proceedings against Hero Electric
     New Delhi: The National Company Law Tribunal (NCLT) has directed initiation of insolvency proceedings against Hero Electric after admitting a plea filed by Metro Tyres, an operational creditor claiming a default of Rs 1.85 crore. *

     DCM12 BIZ-YEAR-EXPORTS
     * Gradual recovery in developed markets, focus on key products boost export prospects for 2025
     New Delhi: India's growing capabilities in high-value sectors like machinery and electronics are supporting the country's exports, amid global uncertainties caused by conflicts, and the gradual economic recovery in developed markets offers improved growth prospects for the Indian exporting community in 2025. *

     DCM9 BIZ-YEAR-BANKING
     * PSU banks to cross Rs 1.5 lakh cr profit in FY'25, low deposit mobilisation concern
     New Delhi: Low NPAs and double-digit credit growth are expected to drive profits of public sector banks past the Rs 1.5 lakh crore milestone in 2024-25. *

     DCM59 BIZ-STOCKS-LD MAMATA MACHINERY
     * Dream debut for Mamata Machinery; shares surge whopping 159 pc
     New Delhi: Shares of packaging machinery manufacturer Mamata Machinery Ltd made a remarkable market debut on Friday and ended with a huge premium of over 159 per cent against the issue price of Rs 243. *

     DEL69 BIZ-GOLD-PRICE
     * Gold jumps Rs 350 to Rs 79,200 per 10 gm; silver surges Rs 900
     New Delhi: Gold prices jumped Rs 350 to Rs 79,200 per 10 grams in the national capital on Friday on the back of continued buying by jewellers and depreciation in the rupee, according to All India Sarafa Association. *

(This story has not been edited by THE WEEK and is auto-generated from PTI)