May 03, 2013, 06.04 PM IST
Evening bulletin brings to you all the key events that made headlines today:
Investors seem to be on selling mode today as the Nifty slipped closer to 5950 led by rate sensitives. The Reserve Bank of India delivered its policy in line with street estimates.
In his fifth and last annual monetary policy RBI governor - Duvvuri Subbarao cut the policy or repo rate by 25 basis points to 7.25 percent. Repo is the rate at which banks borrow from the central bank. Consequently, reverse repo or the rate at which banks park excess liquidity with the RBI stands at 6.25 percent.
In an over six-year old insider trading case involving shares of Reliance Industries' erstwhile subsidiary IPCL, market regulator SEBI Thursday imposed a penalty of Rs 11 crore on Reliance Petroinvestments Ltd.
Riding on the back of a pick-up in investment and improved investor confidence, the Finance Ministry today exuded confidence that the economic growth will be 6 percent and above in the current fiscal.
Bharti Airtel shares rose 4 percent in morning trade on Friday after the telecommunications company said it has entered into a "binding agreement" with Qatar Foundation Endowment, under which it will issue 199.87 million new shares to QFE, representing a 5 percent stake in the company, post the share issue.
Watches and jewellery maker Titan Industries fourth quarter net profit rose 29 percent from a year ago to Rs 185 crore.
Hindustan Construction Company (HCC) disappointed the street on Friday by reporting higher-than-expected fourth quarter (January-March) net loss of Rs 50 crore. The constrution major had reported Rs 54.2 crore loss same period in the previous year.
Indian prisoner Sarabjit Singh was cremated on Friday with full state honours at his village in Bhikhiwind near Amritsar amidst heavy presence of politicians. Among those present at the funeral were Punjab Chief Minister Parkash Singh Badal, Deputy Chief Minister Sukhbir Singh Badal and Congress Vice President Rahul Gandhi.
By: Team Moneycontrol
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