1. Sensex in Bombay Stock Exchange (BSE) rallied and many technology stocks were in demand raising the sensex to 16,978, 225 points higher. Rupee depreciated further in comparison to dollar and fell to Rs.42.67, 13 months low. Crude oil price rose to US$127 a barrel. In the bullion market, gold prices declined due to lack of demand at higher levels and closed at Rs.11,870/10gm and silver closed at Rs.23,555/kg.
2. India’s largest power generation company, NTPC is looking to borrow over Rs.1,05,000 Cr from domestic and overseas markets in the next 4-5 years to meet its ambitious target of adding 22,430 MW electricity generation capacity by 2012.
3. The Exim Bank of US is willing to extend up to US$10 billion of loans to Indian companies through financial institutions for infrastructure projects.
4. Aviation industry is slowing down due to the high fares resulting in decrease in the air traffic growth. April 2008 saw only 8.65% growth in passenger traffic over the same month last year. The expected growth is around 11%. In domestic operations, in April 2008, Jet (+JetLite) - 29.6%; Kingfisher and Deccan together accounts for 27.9% of the traffic and Indian Airlines only 15.1%. Domestic passenger traffic in April 2008 was 38.92 lakh, while the numbers for April 2007 was 35.82 lakh.
5. Lafarge, the French cement major, has acquired Larsen & Toubro’s concrete business. The deal was worth US$349 million.
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