There were not too many data releases this week from India and across the globe. Here are important news items from business.

The country's largest lender surprised markets by reporting a vastly improved asset quality. Net profits and asset quality was much above street expectations. The SBI stock which gained sharply on Friday gave up some gains following the results on profit booking. Check SBI results here

ITC disappoints with quarterly numbers

Tobacco to hotels major disappointed with its quarterly numbers with net profits coming in way below estimates. The stock may open lower on Monday.

Citigroup downgrades Indian stocks

Citigroup has become the latest from a host of foreign brokerages to downgrade Indian stocks. The brokerage firm cut the Sensex target to 32,000 points from 33,000 points. The firm said that many are turning fickle over a slowdown in earnings growth

Service tax to be hiked from June 1

The service tax hike as recommended in the Union Budget 2015-16 would take effect from June 1, 2015. Here are a few things that would get more expensive from June 1, 2015.

Modi Government completes one year in office

The Narendra Modi government has completed one year in office. Most analysts, industrialists and economists say that it has been a mixed picture so far and the government has some way to go.

Sensex, Nifty end the week higher

India's benchmark indices ended the week higher on the back of sustained buying from domestic institutions. The Sensex ended the week at 27,957 points and saw gains for most of the trading sessions of the week.

GoodReturns.in