Evening wrap up: Top stock/events that made headlines today
Here's a lowdown of all the key events that made news today:
- Nifty finally at 6000; 1st time since February
Investors pushed the Nifty into green touching the psychological 6000 level for the first time since February. The Sensex ended up 237.07 points at 19741.25 and the Nifty up 69.15 points at 5999.35
- Factory output growth weakest in 4 years
Indian factories grew at its weakest pace in over four years, making a stronger case for an RBI rate cut due tomorrow. The HSBC Manufacturing Purchasing Managers' Index (PMI), fell for the second straight month in April, dipping to 51.0 from 52.0 in March. The reading for April was the lowest since November 2011.
- Bharti Airtel disappoints; net profit up 79%
Bharti Airtel on Thursday reported a fourth quarter (January-March) net profit of Rs 508.6 crore, up 79 percent quarter-on-quarter, but way below what analysts were expecting. The total income increased nearly one percent which too was below expectations.
- OBC Q4 net up 16% on tax writeback
Public sector lender, Oriental Bank of Commerce (OBC) reported a lower-than-expected 16 percent year-on-year growth in its fourth quarter (Jan-March) net profit at Rs 308 crore. Moderation in net profit was due to higher provisions.
- Auto disappointment continues: Bajaj April sales down 10%
India's second largest two-wheeler maker Bajaj Auto's total sales in April declined 10 percent year-on-year to 3.44 lakh units, as sales remained sluggish in the domestic market and exports also slipped.
The European Central Bank cut interest rates by a quarter point to a new record low of 0.50 percent for the first time in 10 months on Thursday, driven to act by an economy wallowing in recession and freed to do so by sharply falling inflation.
- Speaker rejects Oppn demand to remove Chacko as JPC Chairman
Lok Sabha Speaker Meira Kumar today rejected the Opposition demand for removal of P C Chacko as Chairman of the JPC probing the 2G scam , citing "absence of express provisions in rules".
- Sarabjit Singh dies at Lahore Hospital in Pakistan
After battling for life for more than six days following a brutal assault by fellow inmates inside Pakistan's Kot Lakhpat Jail, Indian death row convict Sarabjit Singh died in a Lahore hospital on Thursday.