The Troubled Rupee

An employee uses an electronic machine to check a rupee note inside a bank in Allahabad December 16, 2011. REUTERS/Jitendra Prakash/Files

RBI likely sold dollars after rupee hit record low of 59.93 - dealers

The Reserve Bank of India (RBI) likely sold dollars via state-run banks after the rupee slid to a record low on Thursday, several dealers said, as fears of foreign outflows from India are roiling domestic bond and stock markets.  Full Article 

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Videocon surges on Mozambique block sale plan

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Thu Feb 21, 2013 12:21pm IST

Reuters Market Eye - Shares in Videocon Industries gain 8.6 percent after the consumer electronics and oil company says it is in talks to sell its 10 percent stake in an oil and gas block off the coast of Mozambique and Tanzania.

Videocon Chairman Venugopal Dhoot tells TV channel ET NOW the company was in talks with multiple potential buyers, including Oil and Natural Gas Corp Ltd, for its Rovuma gas field, confirming earlier media reports.

Dhoot says Videocon has appointed Standard Chartered Plc as an adviser for the sale.

Videocon's board had approved splitting and selling its oil and gas assets in August 2012.

(Reporting by Abhishek Vishnoi)
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