Newsmakers: Tata Motors to raise prices, rupee at 27-month low and more

Key business news events for the day

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Retail inflation rises to 5.41% in November Annual consumer price inflation accelerated to 5.41 per cent in November, picking up pace for the fourth straight month, government data showed on 14 November, 2015. The print was almost in line with the forecast made my economists polled by Reuters. Retail prices were up 5 per cent year on year in October.

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Govt to auction 28 oil and gas blocks; 14 in KG basin As many as 28 oil and gas fields out of the 69 small and marginal fields of state-owned firms that the government plans to auction to private players are in Mumbai offshore, Oil Minister Dharmendra Pradhan said. Of the 69 idle oil and gas fields of state-owned ONGC and Oil India Ltd which are to be auctioned, 28 are in Mumbai Offshore while another 14 are in the prolific Krishna Godavari (KG) basin, he said in a written reply to a question in Lok Sabha in New Delhi.

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BSE Sensex to hit 29,900 by end of 2016: Poll The stock market is expected to more than regain recent lost ground over the coming year, a Reuters poll found, but analysts trimmed their outlook for the second time in six months in a reflection of the slow pace of reforms and global headwinds. Tracking a global selloff, markets have lost about 5 per cent since August and are nearly 9 per cent lower so far in 2015, hurt also by the government's inability to pass key bills on tax and land acquisition reforms.

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Rupee cracks 67 level to hit 27-month low Heightened uncertainties over an impending Fed rate hike dragged the Indian rupee to hit a 27-month low of 67.09 against the greenback, amid strong overseas sentiment. Concerns related to capital outflows aftermath of the first interest rate hike in nearly a decade, predominantly weighed on trade. However, a smart rebound in local equities which largely shrugged off the potentially negative impact of higher rates against the backdrop of the encouraging macroeconomic environment, capped the rupee's losses to some extent.

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Tata Motors to raise passenger vehicle prices from January Tata Motors said it would hike price of its entire passenger vehicle model range by up to Rs 20,000 from January. "Due to the impact of various macro-economic factors, Tata Motors has decided to increase the prices of its passenger vehicles, with the maximum increase being upto Rs 20,000 on some models," the company said.