India Business News: Sensex, Nifty Fall, Telecom Bill Passed, Rupee Flat

New Delhi, Dec 20 (PTI) Following are the top business stories at 2100 hours:



DEL65 BIZ-LD-STOCKS

Sensex, Nifty go into tailspin after hitting fresh all-time high levels; tank over 1 pc

Mumbai: Benchmark equity indices Sensex and Nifty went into a tailspin after hitting their fresh all-time high levels on Wednesday, closing down by over 1 per cent as investors cashed in on the recent rally.


DCM115 BIZ-ZEE-SONY MERGER

Sony agrees to discuss extending Dec 21 deadline for merger, says ZEEL

New Delhi: Zee Entertainment Enterprises Ltd on Wednesday said Culver Max Entertainment, formerly known as Sony Pictures Networks India, has agreed to discuss extending the date required to make their merger scheme effective, a day ahead of the deadline.



DEL92 BIZ-GADKARI-LD TOLL SYSTEM

Govt to introduce GPS-based highway toll collection system by March 2024: Gadkari
New Delhi: The government will introduce new technologies, including GPS-based toll collection systems, by March next year to replace existing highway toll plazas, Union minister Nitin Gadkari said on Wednesday.



PAR43 LS LD TELECOM BILL

LS approves Telecom Bill 2023; provides for govt control on communication network in emergency

New Delhi: A bill allowing the government to temporarily take control of telecom services in the interest of national security, and providing a non-auction route for the allocation of satellite spectrum was approved by the Lok Sabha on Wednesday.




DEL97 BIZ-LD-RUPEE

Rupee settles flat at 83.18 against US dollar as crude oil prices spike

Mumbai: The rupee ended flat at 83.18 against the US dollar on Wednesday amid massive selling in equity markets as concerns over oil supplies through the Red Sea route dented investor sentiment.


DEL70 BIZ-STOCKS-WEALTH

Bear attack: Equity investors become poorer by Rs 8.91 lakh crore in single day

New Delhi: Equity investors became poorer by Rs 8.91 lakh crore on Wednesday as markets came under a bear attack, with the benchmark Sensex falling almost 931 points after hitting its fresh all-time high level.


DCM78 BIZ-SAT-FUTURE RETAIL

SAT quashes Sebi's order against Kishore Biyani, others in insider trading case

New Delhi: The Securities Appellate Tribunal (SAT) on Wednesday quashed regulator Sebi's order banning Future Retail chairperson Kishore Biyani and some other promoters from the securities market for one year in an insider trading case.



DEL61 BIZ-GOLD-PRICE

Gold jumps Rs 300; silver rallies Rs 800

New Delhi: Gold price jumped Rs 300 to Rs 63,100 per 10 grams in the national capital on Wednesday amid strong cues in international markets, according to HDFC Securities.