1. Sensex in Bombay Stock Exchange (BSE) gains 375 points to close at 17,354. The gains were in capital goods, realty and oil & gas stocks. Hindalco was the top gainer, moving up by 6.1%. Crude oil price remained at US$124 a barrel. In the bullion market, gold price closed higher at Rs.11,915/10gm and silver closed at Rs.23,470/kg.
2. Bharti may settle for 51% stake in MTN, while the MTN’s management wants Bharti to buy out the 100% stake.
3. Indian Core Infrastructure industries grew by a healthy 9.6% in March 2008. The overall industry growth remained at only 3% in the same month.
4. Reserve Bank of India relaxed the norms for housing loans to facilitate banks to provide loans for purchase of residential properties.
5. Insurance companies calculate “running age” instead of completed age for premium calculations. This move is not in the interest of senior citizens.
6. Ranbaxy gets US FDA’s approval for selling Cyclobenzaprine Hydrochloride tablets in the US markets. Similarly, Cadila received the approval to market anti-depressant drug – Escitalopram Oxalate tablets.
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