Sensex down 18 pts,ends at 19,584.31 Mumbai: The BSE Sensex on Monday slipped 18 points,despite sustained capital inflows,as top heavyweight Reliance Industries fell on below-expected earnings amid lack of direction from overseas markets. The 30-share Bombay Stock Exchange barometer moved most of the day in the positive terrain but fag-end selling pulled it down to settle the day at 19,584.31,a fall of 17.92 points or 0.09 per cent. In the previous three straight sessions,it had shot up 511.06 points or 2.68 per cent. The NSE 50-issue Nifty also eased by 10.20 points or 0.17 per cent to end at 5,874.50. Ballarpur Industries Q3 net up 10.15 pc New Delhi: Paper manufacturer Ballarpur Industries Ltd (BILT) on Monday said its net profit rose by 10.15 per cent to Rs 60.63 crore for the third quarter ended March 31,2011,over the same period last fiscal. The company had reported net profit of Rs 55.04 crore in the same period previous fiscal,Ballarpur Industries Ltd (BILT) said in a statement. We have invested nearly Rs 1,500 crore in the last three years for ramping up capacity. It has led to increase in capacity as well as revenues, BILT MD R R Vederah said. Mahindra Finance Q4 net up 12 per cent Mumbai: Mahindra Finance,financial services arm of Mahindra & Mahindra,recorded 12 per cent rise in net profit at Rs 157 crore for the fourth quarter ended March. The company had a net profit of Rs 140 crore in the same quarter a year ago. Its total income rose 27 per cent to Rs 602 crore for Q4,last fiscal,from Rs 475 crore in the same period in 2009-10,Mahindra & Mahindra Financial Services (Mahindra Finance) said in a filing to the Bombay Stock Exchange. The company proposed a dividend of 100 per cent or Rs 10 per share of face value Rs 10 each. RBI likely to hike policy rates: UBI CMD New Delhi: The RBI is likely to raise key policy rates next month on account of continuing high inflation,a move that will put pressure on banks lending rates,public sector lender Union Bank of India on Monday said. The biggest concern is inflation. Food inflation is still high and we are witnessing pressure on core inflation also. We believe RBI will take measure to contain demand and we expect it to increase key policy rates on May 3,but by how much,it is difficult to say, Union Bank Chairman and Managing Director M V Nair said. FinMin to meet PSU bankers today New Delhi: The finance ministry will hold annual performance review of public sector banks here on Tuesday to discuss various aspects,including non-performing assets and financial inclusion. The meeting this time will be chaired by financial services secretary Shashi Kant Sharma,as finance minister Pranab Mukherjee is busy with ongoing assembly election in 5 states. The meeting will take stock of the financial performance of the banks during the financial year ended March 2011.
