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News digest: Sensex at record high, Idea-Voda merger, inflation, and more

News digestSensex scales new high amid drop in oil pricesSharp gains in index-heavyweight Reliance Industries (RIL), along with positive global cues, propelled the benchmark Sensex to a lifetime high on Thursday. Read moreIdea may move TDSAT against DoT demandIdea Cellular is looking at the option of moving the Telecom Disputes Settlement and Appellate Tribunal (TDSAT) against the Union government following a steep demand notice issued by the Department of Telecommunications (DoT) while giving a conditional clearance to its merger with Vodafone India, said a source close to the development. Read moreGrowth, inflation come as twin shocks for economyThe economy showed worrying signs as industrial growth slumped in May and retail inflation picked up in June, presenting a difficult choice on the policy rate front for the monetary policy committee (MPC) before its meeting next month. Read moreNavi Mumbai airport Phase I cost escalates by 50% to Rs 135.6 billionThe first phase of Navi Mumbai airport will now cost Rs 135.6 billion, which is about 50 per cent higher than the earlier estimate of around Rs 90 billion made by the planning authority. Read moreKKR-backed Avendus joins race to buy IDFC Mutual FundGlobal private equity major KKR-backed Avendus Capital and BlackRock are among the two front runners to buy IDFC Mutual Fund (MF), said two sources. Read more
Source: Business Standard