Evening wrap: Top stories that made news today

Here are the top stories of the day:

Nifty ends above 5950; shrugs off Cobrapost, weak PMI data

Key equity benchmarks ended in green led by buying in metal and IT stocks. Indian shares consolidated for most part of the day in the absence of major economic data announcements this week. Asian shares surged across the board on stronger than expected US non farm payroll data.

SC approves commissioning of Kudankulam Nuclear Power Plant

The Supreme Court has given a go ahead to the commissioning of the Kudankulam Nuclear Power Plant. The court has observed that the plant has been set up for the welfare and sustainable growth of the people.

SBI, LIC, pvt insurers part of money laundering: Cobrapost

In its continuing expose on the involvement of leading financial institutions in money laundering, media website Cobrapost Monday said that 23 major banks and insurance companies were part of the racket.

Services PMI falls for third straight month in April

Indian services growth eased dramatically during April as new orders came in at a much slower pace, prompting firms to rein in hiring plans, a business survey showed on Monday.

SpiceJet soars 8% as Rakesh Jhunjhunwala's wife buys shares

Shares of SpiceJet Monday surged 8 percent in early trade as ace investor Rakesh Jhunjhunwala's wife Rekha picked up 25 lakh shares of the budget carrier for an estimated Rs 10 crore. The stock closed the day with a rise of 2 percent.

Adani Power posts Q4 net loss at Rs 586cr

Adani Power reported consolidated net loss at Rs 586 crore in fourth quarter (January-March) as against net loss of Rs 285 crore in a year ago period. Consolidated net sales increased 79 percent year-on-year to Rs 1,888 crore during the quarter.

JP Associates Q4 net down 56% on subdued demand

Jaiprakash Associates  March quarter profit slipped 56.5 percent year-on-year (YoY) to Rs 124 crore due to poor show from its mainstay businesses including cement and construction. Sales too declined 4 percent YoY to Rs 3864 crore as overall demand in its subsidairies remained subdued

Inter-ministerial coal regulator panel may meet this week

The inter-ministerial panel, which is to decide on the setting up of regulatory authority for the coal sector, is likely to meet again this week.

By: Team Moneycontrol