Business News Round-Up For Week Ending July 3, 2015

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There was not much data from across the country this week and most analyst and economist had their eyes glued to Greece. Take a look at what happened during the course of the week in India.

Sensex Ends The Week Higher

Business News Round-Up For Week Ending July 3, 2015
Despite the volatility witnessed the Sensex ended the week higher and crossed the 28,000 points mark. Buying was seen in banking, pharma and autos. IT stocks saw a slightly subdued trend during the week.

Shares In Tech Mahindra Slump

During the week shares in Tech Mahindra slumped after the company guided for a weak quarter. The stock lost almost 10 per cent this week.

Services Sector Output In India Contracts

India's services sector output contracted to the lowest level since March 2014 and the seasonally adjusted Nikkei Services Business Activity Index posted 47.7 in June. This was down from 49.6 in May to its lowest level since March 2014.

Fitch Lowers India's Economic Growth Projections

Global rating agency Fitch has lowered India's economic growth projections to 7.8 per cent for the current fiscal from 8 per cent on pickup in demand.

Economy Recovering and Capital Investments Picking Up: Rajan

The Reserve Bank of India Governor Raghuram G. Rajan has said that the economy was recovering and there were signs of capital investments picking up and the government was trying to put stalled projects back on track and the monsoon, thus far, was above normal.
RBI to soon test waters with plastic notes of one denomination

RBI will soon "test waters" for plastic currency, beginning with Rs 10 notes and the process should be "fully on" in the coming year, said the media report.

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Read more about: fitch, raghuram rajan, services sector
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