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Indian market encountered profit booking after a gap-up opening, finally closed in red. In weak global cues, SENSEX shut shop at 17938, down 47 points and Nifty at 5386, down 14 points from the previous close. CNX MIDCAP index was down 0.32% and BSE SMALLCAP index was down 0.26%. The market breadth was negative with advances at 517 against declines of 761 on the NSE. Top gainers included SBIN, LT, HDFCBANK, DLF, HEROHONDA, AXISBANK and SIEMENS. Top losers are listed as M&M, INFOSYSTCH, WIPRO, ACC, STER and GAIL.

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Premium luxury brand hotel group, Hotel Leelaventure Ltd said on Wednesday that it has seen a whopping 786 per cent increase in its net profit. The figure closed at Rs. 9.24 crore during the first quarter, which was higher than Rs. 1.04 crore that it posted for the same period last year.

The group also informed that its income grew by 25 per cent for the first quarter to end at Rs.105.81 crore. Last year during the same period was rs.84.71 crore.

Pharmaceutical Company, Glenmark said on Wednesday that it has got approval from the US regulator, USFDA for introducing its treatment for asthma.

Its generic theophylline tablets are for treating lung-related diseases. It will be selling these medicines in the American markets.

The approval was given to Glenmark Generics Inc (GGI), which is a subsidiary of Glenmark Generics Ltd. It can now start marketing and distributing this drug, that will be available in 400 mg and 600mg dosages.

The Steel Ministry of India is of the opinion that iron ore, just like the other non-renewable sources of energy like coal and petroleum, should be preserved. He has thus called for a complete ban on the iron ore exports.

Even the iron ore-rich state of Karnataka had requested for a ban on the ore exports. Since the states are asking for ban on the ore exports in unison, the Mining Ministry has no option but to consider this demand.

ISRO or the Indian Space Research Organization recently placed five satellites in their exact orbits with the help of its Polar Satellite Launch Vehicle (PSLV-C15), thereby proving how much they can be relied upon.

Their efficiency was displayed by how errorless the entire mission was, right from the ignition to the separation through the rocket's four stages. The taking off was also precise and punctual. This was PSLV's 16th consecutive successful flight.

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