TOP CORPORATE NEWS

·        Future Retail extends rally on talk of acquiring Nilgiris

Future Retail has surged 10% on the back of heavy volumes on reports that Future Group is set to acquire southern supermarket chain Nilgiris.

·        Mindtree Q4 net profit at Rs982mn

Mindtree surpassed expectations on every parameter during January-March quarter with the net profit growing 11 percent sequentially to Rs 98.2 crore as against 4 percent growth expected. Higher growth in bottom line was despite forex loss of Rs 42.6 crore during the quarter as against Rs 27.2 crore in previous quarter.

·        IndusInd Bank Q4 beats forecast, net up 29% on other income

IndusInd Bank reporting net profit at Rs 396 crore in the quarter ended March 2014, up 29 percent compared to a year-ago period supported by other income. Net interest income too was slightly higher than forecast, up 18.1 percent year-on-year to Rs 781 crore during January-March quarter.

·        Tata Power plans to add 646.7 MW from clean energy sources

Tata Power plans to increase its renewable energy capacity by about 71 percent to cut carbon emissions and reduce risks from fluctuating fuel prices.