1. The stock markets in Mumbai were on the run. The BSE’s benchmark index, Sensex closed at 13,635, up by 523 points. Nifty 50 closed at 4092.25, up by 145 points. IT stocks were down, banking stocks up, real estates and energy stocks were in demand. In bullion market, gold price closed at Rs.13,308/10gm. Oil prices are going down and the Nymex crude oil was trading at US$136.36 a barrel. The rupees to a dollar were at 42.800. Cipla reported Q1 results: Net profit up at 140 Cr against 119.76 Cr.
2.ITC buys into India's biggest paper company, Ballarpur Industries (BILT).
3. According to JP Morgan Asset Managment Asia Pacific Chief Executive, the company is planning to approach the market regulator, SEBI for approval to launch an offshore fund in India.
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