Corporate News Headline
•BHEL reported Q4'09 result, net sales increased 35.4% yoy to Rs. 162.34 bn, and net profit rose 21.35% yoy to Rs. 13.47 bn. (BS)
•IVRCL Infrastructure & Projects has bagged Rs. 3 bn order, awarded by the Government of Bihar, Public Health Engineering Department. (BS)
•Simplex Projects has got a project from the PWD Department, government of Tripura for construction of bridges over rivers under different packages for Rs. 1.13 bn. (BS)
Economic and Political Headline
•The Finance Minister Pranab Mukherjee said that the government would continue to rely on market borrowings to spur economic growth and restore the growth momentum witnessed earlier. (BS)
•Concerned over high credit cost and availability of funds, the Finance Minister Pranab Mukherjee said that he would ask banks for a "benign plan of action" while committing to stimulate economic growth by stepping up public expenditure and speeding up reforms.(BS)
•Home resales in the US rose 2.9% to an annual rate of 4.68 million in April, the second time in three months, as foreclosure auctions and cheaper prices spurred bargain hunters, buttressing the case for an end to the industry's slump this year. (Bloomberg)
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