Sensex up 130 pts on late buying ahead of RBI meet

New Delhi

Fag-end buying saved the day for markets as the benchmark Sensex rose 130 points to 25,399.65 on recovery in European stocks from early losses and hopes that RBI will cut interest rates on Tuesday. PTI

Mumbai

Adani gains 6% after getting mining leases in Australia

Shares of Adani Enterprises surged nearly 6% on Monday after the company’s $21.7 billion coal mine project in Australia won three mining leases. Trimming early gains, the stock closed at Rs 80.45 on BSE, up 5.86% over its previous close. PTI

Mumbai

Downgrades in Crisil-rated companies at all-time high 

Crisil Ratings on Monday said weakness in metals and infrastructure sectors led to the quantum of downgraded debt reaching a record high at Rs 3.8 trillion in 2015-16 and the just-started fiscal is unlikely to witness any improvement in the situation. PTI

New Delhi

GDP growth to remain flat at 7.4% in FY17: HSBC

India is likely to clock GDP growth of 7.4% in the current fiscal and consumption is likely to be the main driver of growth in the foreseeable future, says an HSBC report. Investment cycle revival is not expected to happen quickly or easily and the country is likely to see a consumption-driven economic growth model, it said. PTI

New Delhi

Cox & Kings sells two entities to Malvern

Cox & Kings has restructured its business by selling off its two entities — LateRooms and Superbreak — for around Rs 235 crore to Malvern Enterprises, in which it will hold 49% stake. A Europe-based private equity investor will own 51% in UK-based Malvern. PTI