Sensex tumbles 297 pts, Infy results add to MAT woes

Mumbai
Reeling under low foreign investor confidence, the Sensex on Friday fell 297 points to its lowest close in more than three months at 27,437.94 after IT behemoth Infosys shares tanked 6% on disappointing earning numbers and guidance. Heavy selling by FIIs on persisting worries over the controversial tax issue amid sustained fall in rupee continued to put pressure on the markets. PTI

Mumbai
Forex reserves rise to $343 billion
After falling last week, the country's foreign exchange reserves surged by a healthy $2.788 billion to $343.2 billion in the week to April 17 as foreign currency assets (FCAs) rose, the RBI said on Friday. PTI

Mumbai
SBI may hit market with Rs 15,000-cr issue by June
The country's largest lender SBI may hit the market by June with plans to raise Rs 15,000 crore through sale of shares. While SBI is yet to formally decide on the timing of the share sale plan, the biggest ever by the state-run bank, merchant banking sources said it might take place by June as the conditions are not seen to be very conducive at the moment. PTI

New Delhi
Gold jewellery exports rise to Rs 35K crore in Apr-Jan
India's gold jewellery exports stood at Rs 35,006 crore in the first 10 months of the last financial year as against Rs 33,350 crore in the entire 2013-14 fiscal, Commerce and Industry Minister Nirmala Sitharaman informed Parliament on Friday. PTI

New Delhi
Avantha to sell Crompton Greaves’ consumer biz for Rs 2,000 cr
Avantha Group will sell its entire holding of 34.37% in demerged consumer products business of Crompton Greaves to private equity investors Advent International and Temasek for Rs 2,000 crore. The two PE firms will then make an open offer for additional shares to gain ownership of Crompton Greaves Consumer Electricals, which will be listed on the NSE and BSE. PTI