Business

Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax.

This would be the first time Infosys is likely to have a CEO who isn't a founder of the company.

Imports declined to $450.94 billion, narrowing the trade deficit to $138.59 billion in the last fiscal.

The Sensex ended flat, down 0.27 points at 22055.

The Sensex fell back to end with a negligible 0.25-point rise at 21,832.86.

Maruti hogged the limelight with a consistent 7 percent gain throughout the day. SBI, ITC, Coal India and Bajaj Auto were other gainers in the Sensex.

In volatile trade, the rupee had shed two paise to close at 61.19 in the previous session on Friday.

C Rangarajan also said he expects the economic growth to pick up to 5.5-6 per cent in the fiscal year that begins on April 1.

India's fiscal deficit in the first ten months of the 2013-14 financial year crossed the target for the whole year, putting pressure on the finance minister of Asia's third-largest economy to cut spending ahead of an election.

Vodafone, the world's second-biggest mobile operator by subscribers, entered India in 2007 via the Hutchison Whampoa deal.

About 1447 shares have advanced, 1202 shares declined, and 153 shares are unchanged. IT, Healthcare and Capital Goods indices ended with strong gains.

At the Interbank Foreign Exchange (Forex) market, the rupee commenced lower at 62.02 a dollar from the previous close of 61.84.

The Centre has provided Rs 838.07 crore as part of equity investment in the corporation.

The allocation is up by Rs 2,337 crore from last year's revised estimate of Rs 11,793 crore.

The hike proposed is 8.96 per cent compared to the revised estimate of Rs 61,857 crore in 2013-14.

According to experts, reduction in excise duty is a welcome step.