The BSE Indec closed at 18141, with up 55 points, the index touched a high and a low of 18,198.45 and 18,057.82 respectively. While Nifty Index shut up at 5437.75, with little up 7 points, the index touched high and low of 5,452.60 and 5,411.25, respectively.
Market News
Narayana Murthy is reportedly selling part of his stake in Infosys Technologies Ltd. to raise money for its venture capital (VC) fund Catamaran, according to reports.
Domestic News
Narayana Murthy to sell part stake in Infosys: report
Narayana Murthy is reportedly selling part of his stake in Infosys Technologies Ltd. to raise money for its venture capital (VC) fund Catamaran, according to reports. He is likely to raise ~Rs 4-5bn, reports said. Catamaran is reportedly planning a VC fund worth US$400-500mn, which aims to invest in Education, Healthcare and Hospitality sectors.
L&T Q4 Result
Larsen & Toubro Ltd. (L&T) on Thursday announced financial results for the fiscal fourth quarter ended 31st March 2011.
The profit after tax (PAT) in Q4 FY11 stood at Rs. 16.86bn versus Rs. 14.38bn in the same period a year earlier. There was an expectational gain of Rs. 2.26bn, representing gains on the sale of investment in an associate company and partial sale of a strategic investment. Also, the company had an extraordinary gain of Rs. 731.7mn in Q4 FY10.
Net sales for the January to March quarter stood at Rs. 150.78bn as against Rs. 133.75bn in the same quarter last year.
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