Top headlines: Sun Pharma Q4 net rises two-fold; govt hits back at Twitter

Nifty holds 15,300, sees all-time closing high, RBI flags risk of bubble in Indian equity markets and other top news of the day

Sun Pharma Q4 net profit zooms over two-fold to Rs 894.15 cr

Drug major Sun Pharmaceutical Industries on Thursday reported an over two-fold jump in consolidated net profit to Rs 894.15 crore for the quarter ended March 2021, mainly on account of robust performance in the Indian market. The company had posted a net profit of Rs 399.84 crore in the corresponding period of the previous fiscal, Sun Pharma said in a regulatory filing. Read here

Row escalates, govt says Twitter defaming India

The row over Twitter's handling of certain messages escalated into an all-out war of words on Thursday, with the government saying the messaging platform was levelling baseless and false allegations to defame India and dictating terms to the world's largest democracy. It started with Twitter calling the visit by Delhi Police to its offices a form of "intimidation" -- a statement which met with vociferous protests from both the government and the Delhi Police. Read here

RBI flags risk of bubble in Indian equity markets

The Reserve Bank of India (RBI) on Thursday said the sharp rally in the domestic equity markets despite an estimated 8 per cent contraction in GDP in 2020-21 poses the "risk of a bubble". In its annual report for 2020-21, RBI noted that India's equity prices have surged to record highs, with the benchmark index Sensex crossing the 50,000 mark on January 21, 2021 to touch a peak of 52,154 on February 15. Read here

Nifty holds 15,300, sees all-time closing high

Equity benchmark Sensex advanced 98 points after a choppy session on Thursday as monthly derivatives expired amid a largely weak trend in global markets. The 30-share BSE index ended 97.70 points or 0.19 per cent higher at 51,115.22, and the broader NSE Nifty rose 36.40 points or 0.24 per cent to 15,337.85. SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid. Read here