Sensex above 20K: Top headlines on Friday

Here are the top headlines of the day:

Nifty closes at highest level in 2013, autos on fire

The market has been on a high this week with the Nifty closing at its highest level in 2013 but just short of the psychological important 6100-mark. The Sensex too matched the Nifty move, ending the day above 20,000 level.

March IIP at 2.5% as capital goods, manufacturing lead

The Index of Industrial Production (IIP) for March was 2.5 percent, compared to market expectations of between 2.0-2.2 percent, and further raised hopes that the worst may be over for the economy. This is the best monthly IIP reading since the October 2012 number of 8.2 percent, which was attributed mainly due to the festive season, and turned out to be a false start.

Rupee hits three-week low; yen breaks above 101

Rupee depreciated to three-week low as most of the Asian currencies weakened to the US currency. The dollar extended its relentless rally against the Japanese currency on Friday to break above 101 to its highest since April 2009, after signs that Japanese investors are buying more foreign assets provided yet another reason to sell yen. 

Indian car market undergoes worst sales streak in history

India's car market is enduring its worst sales decline in history after sales in April fell for a sixth straight month, according to an industry body, as economic gloom and rising ownership costs savage a once much-vaunted growth market.

Cabinet clears direct benefit transfer for LPG subsidy

The Cabinet on Thursday cleared direct benefit transfer (DBT) on LPG subsidy. Under a pilot project for LPG subsidy transfer, 20 districts in the country will be covered by May 15.

NTPC posts 69% jump in Q4 net on exceptional items gain

NTPC surprised the street by posting 69 percent year-on-year jump in its March quarter profit to Rs 4381 crore boosted by an exceptional gain of Rs 1684 crore. Sales grew marginally to Rs 18462 crore, up a percent YoY.

Ajay Piramal buys 10% in Shriram Transport, shares up 4%

Ajay Piramal, chairman of Piramal Group on Friday bought 10 percent stake in Shriram Transport Finance (STF). The seasoned businessman acquired around 2.26 crore shares at Rs 723 each from the US-based private equity firm TPG in a block deal.

Ashok Leyland Q4 net down 42% to Rs 150cr; shrs fall

Ashok Leyland on Friday said its net profit for the fourth quarter declined 42 percent year-on-year to Rs 150 crore, amid a continued slowdown in the medium and heavy commercial vehicle market.

Boeing makes 787s faster; could boost Q4 deliveries

Boeing Co said on Thursday it has succeeded in getting its factories to churn out 787 Dreamliners at a faster pace this week, a change that came sooner than expected and positions the plane maker to possibly deliver more of the high-tech jet than forecast.

SBI projects 16% loan growth for 2013-14 fiscal

Country's largest lender State Bank of India (SBI) today said it expects to register a lower loan growth rate of 16 per cent for the current fiscal as the demand for advances from the industrial sector is "weak".

By: Team Moneycontrol