The debts incurred by IL&FS in the form of bank loans accounted for around 0.5-0.7 per cent of overall banking system loans as on March 31, 2018.

The stock closed 17.04% or 23 points lower on the NSE.  On the BSE, the stock closed 16.03%  or 21 points lower at 113 level. The market capitalisation of the stock fell by Rs 5,727 crore to Rs 30,013 crore on the BSE.

Today, the market extended losses with the Sensex closing 509 points or 1.34% lower at 37,413. Nifty too fell 150 points or 1.32% to 11,287 level. The Sensex has lost nearly 1,000 points in the last two sessions in a rout triggered by the worsening trade data. The Nifty too has lost 300 points in the same period.

Earlier, the Indian currency opened at a fresh record low of 72.18 to the dollar, down 45 paise compared to Friday's close of 71.73 level. The currency witnessed intense volatility and hit all-time low of 72.64 during morning deals.

A weaker rupee has resulted in rise in import bills, costlier foreign education and travel. The biggest impact is on petrol and diesel prices which have witnessed steady increase throughout the year. Petrol and diesel have risen by 13.99 per cent and 23.04 per cent respectively since August 24 last year.

Indian rupee today dived to a new all-time low of 70.52 against the US dollar. The fall in its value comes on the back of strong US consumer confidence data.

The Indian GDP hardly has any implication on the Indian IT industry, from a business and growth perspective, since it is an export-led sector.

The Indian economy is expected to grow by around 7.5 per cent in 2018 and 2019 as it is largely resilient to external pressures like those from higher oil prices, Moody's Investors Service said today.

Kerala CM seeks Rs 2,000 cr relief package from PM as state suffers Rs 19,512 cr loss; Walmart completes deal to acquire 77% stake in Flipkart; India's CAD to widen to 2.5 per cent of GDP in FY19: Moody's; and Infosys CFO M D Ranganath steps down after 17 years. Watch more in this episode of Business Wrap.

Kerala CM seeks Rs 2,000 cr relief package from PM as state suffers Rs 19,512 cr lossAbout 357 people have lost their lives in what could be called the worst-ever flood in a century in Kerala. So far, the National Disaster Response Force has evacuated over 10,000 people from the worst-affected areas of southern state. In an unprecedented relief effort under the instructions of Prime Minister Narendra Modi, 67 helicopters, 24 aircraft, 548 motorboats and thousands of rescue personn...

Rupee last week dropped to a record low of 70.32 to a US dollar as political turmoil in Turkey and concerns about China's economic health continued to support safe-haven assets and weighed on emerging market currencies.

On the HSBC list, the minister said that undisclosed income of Rs 8,448 crore was detected with a tax demand of Rs 5,447 crore.

During the Budget presentation in February, then Finance Minister Arun Jaitley had projected the fiscal deficit target at 3.3 per cent of GDP for the financial year 2018-19.

The share price went down to Rs 260 -a fall of around 2 per cent on Thursday-compared to Rs 440 in the beginning of January, making TML among the worst performing automotive stocks in the world. The share slip is a worry for the company as it gears up for the launch of the new SUV Harrier.

The report said the load carrying capacity of heavy trucks would be raised by up to 25%. This led to negative sentiments on the counters of truck manufacturers such as Tata Motors, Ashok Leyland and Eicher Motors on fears more goods could be transported via the same number of trucks which would hit the sales of these firms.

Global rating agency Moody's today said it has downgraded the corporate family rating on Tata Motors due to the weakening credit metrics at Jaguar Land Rover (JLR).

A day after entering the $100 billion m-cap club, RIL stock continued its rally on Friday to breach the 7 lakh crore market valuation.

The government is also, at best, lukewarm to the idea of an asset reconstruction company (ARC) to take over the public sector banks' toxic loans as it's not keen on diverting more of taxpayers' money toward their resolution in this manner.

Global credit rating agency, Moody's Investors International, has downgraded Pakistan's outlook to negative from stable citing factors like \"heightened external vulnerability risk\" and \"low reserves adequacy\".

Nirav Modi holds six Indian passports; agencies to file fresh FIRAbsconding jeweller Nirav Modi, wanted in the Rs 13,600 crore PNB fraud case, is reported to be in the possession of at least six Indian passports and the investigative agencies are likely to file a fresh FIR against him for this offence, senior officials confirmed. It is a criminal offence to possess more than one valid passport and also to use a revoked passport. Modi, who was earlier holed up in the UK, is now rep...