Rate consolidates and holds gains but is capped at 1.3580 with stops likely above 1.3600 now. Rate is solid above the 100 day MA. Traders note offers above the 1.3630 area but bids continue to support ahead of 1.3480; foothold over the 1.3500 handle likely to encourage a short-squeeze. Rate likely has stops building in both directions; shorts lose control of the market after rate clears stops above the 1.3430 area.

Carrying forth its gains into the fifth week, the Bombay Stock Exchange's Sensex was up 186 points on Monday, and closed at 10,534, while the Nifty was up by 45 points to close at 3,256. With the Indian markets consolidating, the index traded between 10,654 and 10,411.

The figures marked the highest level of the benchmark index since 10 November, 2008; thanks to the rising sanguinity about the global economy, and metals and capital goods, and auto stocks showing robust gains.

The Macquarie-SBI Infrastructure Fund (MSIF) is the newly-announced joint venture of India's biggest lender State Bank of India (SBI) and the largest Australian investment bank Macquarie Group Ltd., which has raised $1 billion for investment in ports and power plants in India.

The SBI-Macquarie joint venture MSIF also boasts of the participation of the International Finance Corporation (IFC), the private sector lending arm of the World Bank, as a minority shareholder and keystone investor.

The 59th PTC India Ltd Board Meeting on Monday, April 5, was marked by the amendment of the decision taken by the company's board at the 57th meeting. The previous decision went thus: "subject to the approval of shareholders raising of funds up to Rs. 12 billion through the Qualified Institutional Placement - NCDs upto Rs. 4 billion; plus warrants of upto Rs. 8 billion."

Motilal Oswal Financial Services, one of India's leading stockbroking and research firm, has come out with earnings estimates on FMCG sector for the quarter ended March 2009.

The company in its latest research report revealed that Nestle's March quarter sales are expected to go up by 18.7% to Rs 1295.4 crore on Y-o-Y basis.

In addition, Motilal Oswal predicated Nestle's net profit to go up by 18.5% to Rs 201.5 crore on Y-o-Y basis.