Newsmakers: Volkswagen cars flout emission norms, rupee at 30-mth low and more

Govt to auction at least 3 gold mines this year
The government is planning to auction at least three gold mines in 2016, an official said, opening up the sector to private firms for the first time ever in a bid to slash imports of the metal that cost the government $36 billion last year. Economically crippling shipments of up to 1,000 tonnes of gold, accounting for about a quarter of country's annual trade deficit, have already prompted the government to hike import duties and launch a scheme aimed at mobilising a pool of over 20,000 tonne of the metal lying idle in homes and temples.

Petrol price cut by 32 paise, diesel to cost 28 paise more
Petrol price was cut by 32 paise per litre but diesel rates were hiked by 28 paise a litre on global trends.
Petrol in Delhi will cost Rs 59.63 per litre from midnight on Wednesday as against Rs 59.95 a litre currently. A litre of diesel will cost Rs 44.96 a litre as compared to Rs 44.68 now, according to Indian Oil Corp (IOC).

Rupee in free fall, ends at 30-month low
In a highly volatile trade, the rupee plummeted to a 30-month low of 68.67 against the US dollar but made some fag-end recovery to close at 68.47, still down 9 paise, in line with a late rebound in domestic equities. The domestic unit resumed lower at 68.50 as against the Tuesday's closing of 68.38 per dollar at the Interbank Foreign Exchange market and dropped further to 68.67 before finishing at 68.47, a loss of 9 paise or 0.13 per cent.

Sensex stages late rally to close 189 pts higher
In a volatile trading session, the S&P BSE Sensex staged a late rally to settle the day 189 points higher above its crucial psychological level of 23,000, while broader CNX Nifty jumped above its key 7,100-mark. The benchmark indices rallied tracking positive cues from European markets as investors looked forward to a less volatile trading, a day after major world stocks recorded one of their biggest rallies in years. Gains in index heavyweights such as Reliance Industries, Infosys and Sun Pharma also helped. 

Volkswagen cars exceed emission norms by more than nine times: Govt
The government said the on road tests of vehicles manufactured by German automobile major Volkswagen have revealed that they exceed emission norms by over nine times. According to a minister, the tests conducted by the Automotive Research Authority of India (ARAI) at the company's factory showed that the passenger vehicles' emissions come under the regulatory limits.