Newsmakers: DIPP approves 32 defence proposals, gas stocks surge up 17% and more

A high-powered Department of Industrial Policy and Promotion (DIPP) panel chaired by Secretary Amitabh Kant cleared 32 proposals for setting up manufacturing units in defence and explosive sectors which includes conditional approval to eight subsidiaries of Reliance Infra.

The Finance Ministry on Friday expressed confidence that the fiscal deficit targets will not be breached because of absorbing the Rs 1.02 lakh crore bill, after the Pay Commission on Thursday proposed 23.55 per cent rise in salaries and pensions of central government employees.

Japanese retail investors return to India seeking emerging market yield as the country has now brought inflation under control and has placed itself among the fastest emerging markets in terms of economic growth rates.

Shares of gas stocks such as GAIL, Petronet LNG, Gujarat Gas, Indraprastha Gas and Gujarat State Petronet rallied up to 17 per cent in trade on Friday following news reports Ras Gas Company (RasGas) is ready to modify sales and purchase agreement (SPA) with Petronet.

Italian luxury sports-car maker Automobili Lamborghini on Friday launched Huracan LP 580-2 in India priced at Rs 2.99 crore (ex-showroom Delhi).