Nifty ends above 5900; Bank Nifty up 12% in April series
Here are the top stories of the day:
Key equity benchmark indices closed with hefty gains on expiry day. The Nifty closed at one-month high led by index heavyweights like GAIL, Tata Motors, Dr. Reddys, Axis Bank and NTPC. The Nifty gained close to 4 percent in the April series.
Jet Airways shares climbed as much as 14 percent to Rs 654 after Abu Dhabi's Etihad Airways picked up 24 percent stake in the airline at Rs 754.74/share, a 31.7 percent premium to Jet Air's closing share price on Tuesday.
However, the shares closed the day with a rise of 11 percent.
L&T Finance Holdings reported more than 21 percent year-on-year rise in its fourth quarter (January - March) consolidated net profit to Rs 171 crore, driven by robust loan growth and spike in other income. Consolidated net interest income or the difference between interest earned and pait out, upped 27 percent to Rs 478 crore during the quarter.
The newly formed AirAsia India, the Indian arm of Malaysia's low cost carrier AirAsia, has filed an application with the Civil Aviation Ministry seeking permission to launch its operations, official sources said here today.
India today exuded confidence that global agencies will upgrade the country's sovereign rating in the backdrop of bold and tough decisions taken by government to contain fiscal deficit and promote growth.
Beverages and snacks major PepsiCo India today expanded its cola portfolio with the launch of 'Pepsi Atom' and has roped in Bollywood actor Sushant Singh Rajput as its brand ambassador. Pepsi Atom is the second mainstream cola from PepsiCo India portfolio, after the company's flagship brand, Pepsi, PepsiCo India said in a statement.
Petronet LNG shares gained two percent amid high volumes on Thursday after the company signed initial agreement to buy 4mtpa from US-based United LNG. PLL said they have executed a preliminary conditional agreement with United LNG (a US based firm) for supply of around 4 MMTPA LNG for 20 years through the Main Pass Energy Hub.
Amid opposition plans to corner the JPC Chairman over clean chit to Prime Minister Manmohan Singh, the much-talked about meeting of the panel to adopt the draft report on the 2G scam was today postponed following death of a Lok Sabha member.
By: Team Moneycontrol