The broader markets outperformed the benchmark indices even as telecom shares rallied despite industry regulator announcing ceiling on tariffs on roaming.

At 2:45PM, the 30-share Sensex was down 42 points at 28,884 and the 50-share Nifty slipped 13 points at 8,766.

Shares of midcap companies are continue at their upward march for the seven straight trading sessions with the National Stock Exchange (NSE) CNX Mid-cap index hit a fresh record high today.

At 1427 hours, CNX Mid-cap index was up 0.60% at 13,608 points, after hitting a new high of 13,631 in intra-day trade. The CNX Nifty was down 0.20% at 8,761.

Gold prices rose by 0.27% to Rs 26,750 per 10 grams in futures trade today as speculators created fresh positions amid positive cues from overseas markets.

At the Multi Commodity Exchange, gold for delivery in far-month August moved up by Rs 72, or 0.27%, to Rs 26,750 per 10 grams, with a business turnover of two lots.

Shares of rating agencies – ICRA, CRISIL and Credit Analysis and Research (CARE) – rallied by up to 12% after foreign institutional investors (FIIs) hiked their stake during the fourth quarter (January-March 2015).

ICRA has rallied 12% to Rs 4,993, CRISIL surged 7.5% to Rs 2,340 and CARE gained 3% to Rs 1,786 on the Bombay Stock Exchange (BSE). All these shares hit their respective record highs on the bourses.

Ramalinga Raju was his usual self, calm and unperturbed, even as the final verdict of seven years of rigorous imprisonment was being announced by a special court set up by the Central Bureau of Investigation (CBI) for his role in the multi-crore accounting fraud at the erstwhile Satyam Computer Services.

It was as if Raju, former chairman of Satyam, was aware ‘the tiger’ he had been ‘riding’ for several years was now about to throw him off its back and prey on him.

Mumbai: India’s central bank will continue to focus on targeting inflation and cannot drop guard, Reserve Bank of India governor Raghuram Rajan said in an interview to CNBC-TV18 on Thursday.

“This is where we cannot relax our guard quickly, we cannot say we are out of the inflation woods,” Rajan said, referring to the central bank’s achievement over bringing down retail inflation sharply from double digit level.

CHENNAI: Axis Bank and a couple of smaller private banks have decided to cut their lending rates a day after State Bank of India, ICICI Bank and HDFC Bank lowered their base rates.

On Wednesday, Axis Bank reduced its base rate by 20 basis points from 10.15% to 9.95% effective from April 13. Lakshmi Vilas Bank also has reduced its base rate, while other smaller private banks such as City Union Bank and Repco Bank are expected to follow suit. Rate cuts by the big banks are compelling smaller institutions to reprice their loans as they fear loss of business in an environment where credit growth is sluggish.

MUMBAI: Extending the winning run to fourth consecutive session on Thursday, the benchmark BSE Sensex rose by over 190 points to close at a three-week high of 28,707.75 mainly led by gains in RIL, Infosys and Coal India amid sustained foreign capital inflows.

The barometer has garnered 750.26 points in four-day gaining spree.

NEW DELHI: Flagship explorer ONGC may be one of the most valuable companies by market cap. But for long, it has carried the image of a lumbering government entity with a "chalta-hai" (business as usual) attitude towards falling oil production.

Not any more. With the Modi government fixing accountability and oil minister Dharmendra Pradhan keeping a hawk's eye on monthly performance, the country's biggest oil producer has succeeded in reversing the decline by posting positive growth in output for the first time in seven years.

Shares of Inox Wind listed at Rs 400, a 23% premium against its issue price of Rs 325 per share, on the National Stock Exchange (NSE).

It touched high of Rs 427 and has seen a combined 4.91 million shares changed hands on the counter on the NSE and BSE. At 1015 hours, the stock was trading at Rs 411 on the NSE.

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