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Daily News Podcast: Soon, demand draft to bear name of purchaser

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Sensex hits fresh high of 36,740, Nifty at 11,057; Wipro, Reliance Industries, Infosys top gainers
The Sensex and Nifty continued their rally in early trade today despite flow of negative news on macroeconomic front on Thursday. While the Sensex rose 174 points or 0.48% to 36,723 level, the Nifty climbed 35 points or 0.32% to 11,058 level.

Fortis accepts $584 million stake deal from Malaysia's IHH Healthcare
Fortis Healthcare Ltd said on Friday that it accepted an investment offer from Malaysia's IHH Healthcare Bhd, capping a months-long bidding war for control of the firm that drew interest from domestic as well as international suitors. Cash-strapped Fortis said IHH will invest Rs 40 billion at Rs 170 per share in the company that operates about 30 private hospitals in India.

Retail inflation hits 5-month high in June on soaring fuel prices, weak rupee
According to data released by the Central Statistics Office (CSO) on Thursday the retail inflation soared to 5 per cent in June compared to 4.87 per cent seen in May. This amounts to a five-month high in retail inflation, which is calculated on the basis of Consumer Price Index. The latest jump in consumer inflation comes on the back of a depreciating rupee and skyrocketing fuel prices.

Industrial output slips to 7-month low of 3.2% in May over sluggish manufacturing, power activity
India's Industrial Production (IIP) declined to a seven-month low of 3.2 per cent in May as compared to 4.8 per cent in April, mainly due to slow manufacturing activity and sluggish performance of power sectors, and the FMCG sector. Data released on Thursday by the Ministry of Statistics and Programme Implementation showed that the cumulative growth in May over the corresponding period last year stands at 4 per cent.

RBI makes it mandatory to mention buyer's name on demand draft to curb money laundering
The central bank on Thursday said it has decided to make it mandatory to mention the name of a purchaser on the face of a demand draft (DD) at a bank branch. The decision was taken by the Reserve Bank of India to make banking instruments safer and stronger.