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Benchmark BSE ended in the red during the last trading session of Tuesday. This happened because of the selling pressure that happened during this hour.

In all, Sensex was down 50 points to end at 17,878.14 following its European counterparts. This is 0.28 per cent lesser than its previous close of 17,928.42 points. In the morning it had opened at 17,918.43 points.

Earlier during the day it went in the green and gained 111.75 points and breached 18,000 mark.

After a lot of hullabaloo, the Finnish handset maker, Nokia finally finalized a wage revision pact with its employees in India.

The market leader in the handset segment in the world had to do so after its employees went on a strike in its manufacturing facility in Sriperumbudur near Chennai.

Nature of the agreement is tripartite and has been signed between Nokia India Employees Progressive Union and the management in the presence of Tamil Nadu Labour Minister T M Anbarasan and Labour officials.

The same was signed on Monday night and was presented on Tuesday.

Cinemax India Ltd., the chain of multiplexes is now looking for partners for fueling its growth. Private equity is the specific area where it is seeking for investors.

It expects to raise Rs. 150 crore and the corpus will be used for aggressive growth plans and consolidation.

Cinemax is a Mumbai-based firm which has 94 screens in major cities. A person familiar with the development said that it wants to expand across India.

On Tuesday, Zee Entertainment Enterprises (ZEE) said that its net profit has jumped by 64.36 per cent. In real terms the profit of media major was at Rs 150.1 crore for the quarter ending June 30.

The company said that this is the result of higher volume from the advertising front.

This is higher than last year when the net was at Rs 91.32 crore, Zee said in a filing with the BSE.

On the revenue front, the increase was that if 42.24 per cent to end at 676.99 crore for the same quarter. Last year for the same quarter it stood at Rs 475.93 crore.

Part of Vijay Mallay's UB group, United Spirits said that it has seen a decline in its profit for the quarter ending June 30.

UB is the second largest spirit make in the world and has strong brands in the market. It is also the sponsor of the IPL team Royal Challenger's Bangalore.

Meanwhile, figure show that the profits have gone down by 31.83 per cent for the June quarter and stood at Rs 121.05 crore. Last year, the figures stood at Rs 177.59 crore.

Leading media firm Balaji Telefilms has declared its Q1 financial results for the fiscal year 2010-11. The company has posted a net profit of Rs 2.93 crore for this quarter. 

The net profit of the firm was reported to be Rs 8.97 crore for the same quarter last year. Hence there has been a decline of 67% in the net profit figure this time against last year's record.

So far as the net sales of the firm are concerned, it has declined to Rs 30.70 crore during the April-June period of fiscal year 2010. It has Rs 39.72 crore for the same quarter last year.