Corporate News Headline
•ITC reported Q4'09 result, net income dipped 2.84% yoy to Rs. 39.27 bn, but net profit rose of 9.97% yoy to Rs. 8.09 bn. (BS)
•NTPC reported Q4'09 result, net sales increased 6.54% yoy to Rs. 114.45 bn, and net profit rose of 57.77% yoy to Rs. 21.13 bn. (BS)
•Era Infra Engineering bagged an order worth Rs. 1.17 bn from Aravali Power Company for developing a permanent township at the Indira Gandhi Super Thermal Power Project in Haryana. (BS)
Economic and Political Headline
•The RBI said that the new UPA government, which is slated present the Budget some time in July, should resist pressure for another stimulus as sustained economic recovery would require fiscal consolidation in medium term. (ET)
•Treasury Secretary Timothy Geithner called for major changes in compensation practices at financial companies and said the Obama administration's plan to help realign pay with performance will be rolled out by mid-June. (Bloomberg)
•The UK's Gross domestic product dropped 1.9% in the period, the most since 1979, as consumer spending slumped the most since 1980 and companies ran down inventories at a record pace in the first quarter. (Bloomberg)
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