Live: Sensex, Nifty Up Nearly 1%; Rupee Opens Flat

The currency has opened flat in today's session, after posting losses for the week on Friday.

The rupee opened at 73.66 against the U.S. Dollar as compared to Friday's close of 73.61. Despite the weekly losses, the currency ended as the third best performer in Asia for the week.

Yield on the 10-year government bond opened at 6.041% as compared to Friday's close of 5.994%.

The government may raise its borrowing estimate for the October-March period to Rs 6 lakh crore from the existing five lakh crore, according to 10 out of the 16 traders in a Bloomberg Survey.

"We expect the full-year sales to be revised higher by another Rs 2 lakh crore to Rs 14 lakh crore," Himanshu Malik, a strategist at HSBC wrote.

South Korea-based S-Oil, will produce and sell its lubricant product in India, through its partnership with Gulf Oil Lubricants.

S-Oil started producing S-Oil SEVEN, from Gulf Oil's Chennai plant from August, the South Korean refiner said in an emailed statement to Bloomberg.

The company plans to start selling the product in the fourth quarter of FY21, the statement said. S-Oil has been exporting lube base oil to Gulf Oil since 2006. It has a daily capacity to make 44,700 barrels of lubricant oil in South Korea.

Shares gained as much as 3.5% to Rs 660 and are up for the second straight day.

The bank put out a statement on Sunday evening, trying to assure depositors of the bank's financial health.

The statement said that the lender's Liquidity Coverage Ratio currently stands at 262%, as compared to a minimum 100% requirement from the Reserve Bank of India.

The Provision Coverage Ratio of the lender stood at 72.6%, as compared to 70% prescribed under the Prompt Corrective Action framework.

The bank said that it will continue to evaluate the proposed amalgamation of the 'Clix Group' with itself.

This was done after shareholders of the bank rejected the appointment of as many as seven directors, including the CEO at the bank's AGM on Friday.

The Reserve Bank of India has approved a three-member board committee of independent directors to run the day-to-day affairs of the bank.

Shares fell as much as 6.25% to Rs 18, and are fluctuating between gains and losses.

The company informed the exchanges that it has received an Arms Licence from the Arms Licence Issuance Authority of the Department for Promotion of Industry and Industrial Trade (DPITT).

The licence will allow the company to manufacture all types of warheads and fuses at the Katepally village in Telangana.

The licence will enable the company to enter into new business areas in the field of defence explosives, it said in an exchange filing.

Shares are locked in an upper circuit of 5% at Rs 119.5. The stock is up for the second straight day.