Top headlines: Fortis shares tank on SC verdict; Rupee hits new low

India defends decision to ban rice, wheat exports at WTO meeting

India has defended its decision to ban export of wheat and rice at a WTO meeting even as some member countries have flagged concerns over the country's stand, an official said.

At a meeting last week in Geneva, Senegal, the US and the European Union raised questions over this decision, stating it could have adverse implications on global markets. Read more

SpiceJet says will hike salaries of senior pilots by 20% from October

After sending about 80 pilots on leave without pay for three months, SpiceJet said on Thursday it will increase the salaries of its remaining senior pilots by 20 per cent from October.

Demand for senior pilots has increased as new carrier Akasa Air and revamped Jet Airways are willing to pay high salaries to hire them. Read more

Rupee hits new low against US dollar as Asian peers tumble on Fed rate view

The Indian rupee dropped to a record low versus the U.S. dollar on Thursday, as Asian currencies declined on concerns over the pace and quantum of U.S. Federal Reserve's policy tightening ahead.

The rupee closed at a record low of 80.86 to the dollar, down from 79.9750 in the previous session. Read more

Analysts cautious on Fortis Healthcare post SC verdict; stock tanks 18%

Shares of Fortis Healthcare (FHL) plunged 18 per cent to Rs 255.75 on the BSE in Thursday’s intra-day trade on of heavy volumes, after the Supreme Court (SC) announced a jail term of six months for Malvinder Singh and Shivinder Singh in the Daiichi-Fortis case. That apart, a forensic audit has been ordered in the Fortis-IHH deal. Read more