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RIL, ONGC lead stock surge
Heavy buying by foreign and domestic institutional investors saw the Bombay Stock Exchange (BSE) Sensex rise 2.25 per cent, or 339 points, to close at a 10-month closing high at 15,466. The rally was led by index heavyweights Reliance Industries (RIL) and Oil and Natural Gas Company (ONGC) as global crude oil price touched $71 a barrel after settling above $70 for the first time in over seven months. Firm global markets too helped the rally.

1,200-Mw Rosa power project starts operation in Uttar Pradesh
Anil Ambani’s Reliance Power today started power generation at its Rs 6,000-crore Rosa Power Project in Shahjahanpur district of Uttar Pradesh.

News of the day

LIC, Central Bank to boost trade in interest futures
The interest rate futures (IRFs) trading in the country will get a boost in coming days, as Life Insurance Corporation (LIC) and Central Bank of India have agreed to provide support to the exchange-traded product. Both these will ensure adequate liquidity on the National Stock Exchange (NSE)— the bourse where IRFs are traded.
Corporate

Glenmark recovers partial losses

The stock recovered some of its losses to finally end at Rs 258, down over 2% from the previous close. Around 691,753 shares were traded on the BSE as compared to the two-week daily average traded volumes of 698,158 shares on the BSE. ____________________________________________________ NTPC loses sparkle on FPO blues Oil up in Asian trade Spice Communications zooms 13% amid heavy volumes The stock today opened at Rs 263. It touched a high of Rs 267 but started slipping thereafter. It plunged 6% to a low of Rs 246 and is now at Rs 251 - down 5%. Around 111,054 shares have been traded on the BSE so far. Glenmark Pharmaceuticals recorded a net profit of Rs 53.45 crore for the first quarter, a sharp drop of 53 per cent as compared with Rs 115.37 crore during the corresponding period the previous year. The consolidated revenue, however, increased 18% to Rs 543.69 crore.


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