Infosys shares crash on muted FY14 sales outlook
Infosys' fourth quarter net profit rose slightly higher-than-expected 3 percent year-on-year (1 percent quarter-on-quarter) to Rs 2,394 crore, helped by higher other income and lower income tax expenses. As soon as the results were announced, the shares of the company tanked to nearly 21 percent to close the day at Rs 2295.45, losing Rs 622.
Sensex loses 300 points after Infosys shock
A nasty earnings surprise from technology heavyweight Infosys felled the Sensex by 300 points on Friday, more than wiping out the gains in the last couple of sessions.
February Industrial output slips 0.6%
Industry output (IIP) for the month of February came better-than expected at 0.6 percent against an expectation of a contraction. The bounce in the industrial output has come due to contribution from consumer goods sector, which turned positive for the first time in a year at 0.5 percent.
Retail inflation declines to 10.39% in March
Retail inflation declined to 10.39 percent in March, snapping the five month rising trend, as prices of vegetables and protein based items eased. The Consumer Price Index (CPI) based inflation was at 10.91 percent in February .
Gold falls below 29000 mark
Gold prices in India, the world's biggest buyer of the metal, fell below the 29,000 rupees mark, a level keenly watched by importers and jewellers to re-stock gold for weddings and festivals.
SBI raises $1 bn from overseas bond market
SBI has mopped up one billion dollars in an international bond sale programme, according to one of the merchant bankers Citigroup. "SBI successfully sold its five-year senior unsecured bond (REG S)at 255 BPS over the US treasury yielding a coupon of 325 base per annum raising USD one billion through its London branch.
Tilaknagar Ind stock swells on likely merger with ABD
Tilaknagar Industries rose 9 percent on news that liquor baron Kishore Chhabria's Allied Blenders & Distillers (ABD) is discussing a merger deal with rival Tilaknagar Industries, makers of Mansion House brandy.
FinMin pitches for ratings upgrade for economy with Fitch
The Finance Ministry today made a strong case for rating upgrade of Indian economy by global agency Fitch on the back of increasing investments, declining import of gold and government's commitment to fiscal prudence.
Delhi HC seeks Glenmark's response by May 22 on patent row
The Delhi High Court today sought response of Glenmark Pharmaceuticals on US drug major Merck Sharp and Dohme's appeal against the single judge bench order refusing to restrain the Indian firm from manufacturing and selling anti-diabetes drugs Zita and Zita-Met.
Revision in ethanol prices lift sugar stocks
Sugar stocks remained buouyed after oil marketing companies and sugar companies fixed a price of 34 rupees a litre for ethanol. Cabinet Committee on Economic Affairs (CCEA) had decontroled sugar sector with certain riders on April 4, 2013.
Compiled by: Team Moneycontrol
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