Rupee plunges 29 paise to 64.16 against USD, post yuan devaluation.

 The rupee fell sharply by 29 paise to 64.16 against the dollar in early trade Tuesday at the Interbank Foreign Exchange due to a rise in the greenback against other currencies overseas.

Dealers attributed the fall to the dollar's gains after China devalued yuan, which pushed up demand from importers for the US currency.

However, a higher opening in domestic equity market capped losses to some extent.

The rupee had lost six paise to settle at 63.87 against the dollar in yesterday's trade on fag-end demand for the greenback from importers.

Meanwhile, the benchmark BSE Sensex was trading higher by 103.40 points, or 0.36 percent, at 28,205.12 in early trade today. 

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Sun TV tumbles 7% after HC cancels Maran's anticipatory bail.

 Shares of Sun TV Network tanked nearly 7 percent Tuesday after the Madras High Court cancelled former telecom minister Dayanidhi Maran's interim anticipatory bail in the controversial telephone exchange case and directed him to surrender before CBI within three days.

As a result, the stock declined 6.52 percent to Rs 318.70 on BSE.

On NSE, it went down 6.74 percent to Rs 318.20.

While rejecting his charges of "political vendetta", the Madras High Court yesterday cancelled Dayanidhi Maran's interim anticipatory bail in the controversial telephone exchange case and directed him to surrender before CBI within three days.

In a 49-page order, Justice Vaidhyanthan held that "prima facie" Maran had "misused" his office by obtaining telephone connections "illegally" and allegations against him were backed by material evidence.

CBI has registered an FIR against Maran and others alleging that more than 300 high-speed telephone lines were provided at his residence in Chennai and extended to his brother Kalanithi Maran's SUN TV channel to enable its uplinking when Dayanidhi Maran was Union Telecom Minister in 2004-07.