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Essar Oil gains on retail revamp move
Essar oil gave up some of its gains and finally settled at Rs 140, up around 2% from the previous close. The counter witnessed heavy trades of 658,518 million shares as compared to 248,533 million shares.

FIIs to obtain RBI nod for buying Maruti shares
The Reserve Bank of India (RBI) today said that foreign institutional investors (FIIs) would be allowed to buy more shares of Maruti Suzuki but only after obtaining approval from the central bank.

News of the day

PNB to raise Rs 700 cr via bonds issue
Public sector lender Punjab National Bank (PNB) today said it will raise Rs 700 crore by issues of bonds.
Management

NIIT Tech's Q4 net down 15 per cent

Foreign exchange losses of Rs 22 crore in the quarter ate into the profits of Delhi-based NIIT Technologies, which posted a profit after tax (PAT) of Rs 26.3 crore for the fourth quarter ended 31 March, 2009, down 15 per cent from Rs 31 crore in the corresponding quarter last year. Sensex ends up 35pts Sequentially, PAT jumped 56.5 per cent from Rs 16.8 crore in the trailing quarter while revenue declined 8.6 per cent from Rs 248.5 crore. “Verticals like insurance, travel and retail, that contributed 81 per cent to revenues last year, have now contributed 84 per cent.,” said Arvind Thakur, CEO, NIIT Technologies.


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