Protectionist measures by the government seem to have revived the domestic steel industry but Japan and China may play spoilsport by dragging India to the WTO.

The company said in a statement that fourth quarter earnings were impacted due to one-off costs associated with the Britain business, such as impairment of non-current assets (Rs.1,724 crore), employee separation compensation (Rs.239 crore) and restructuring and other provisions (Rs.856 crore), among others.

JSW Steel, which had reported a net profit of Rs 329 crore in the year-ago quarter, said the latest consolidated results included a one-off charge of Rs 2122 crore on impairment of assets.

India Inc. has been very kind in distributing profits to their investors, but there is huge inconsistency between their profit and dividend payout growth.

\"The F&O expiry and other negative factors including disappointing Q4 earnings by more bluechip companies have been hurting market sentiments,\" said a Delhi-based stock broker.

Shares of Tata Steel opened at Rs 350 and have touched a low of Rs 343.20 on the Bombay Stock Exchange so far.

Shares of Godrej Properties surged over 6 per cent on Thursday after the company said it sold over 200 apartments, with an area over 400,000 sq ft, in just three weeks after the launch of its new residential project in Gurgaon.

Consolidated net sales for the quarter fell about 21 per cent from a year earlier to Rs 333.4 billion, hit by weak steel prices and international demand.

The insurance major has picked maximum stake in Coal India during the quarter under review - 4.65 per cent stake worth Rs 10,754 crore in Coal India.

Shares of Jubiliant FoodWorks may stay in limelight today as the company reported a robust Q4 FY15 earnings on Thursday.

The BSE Sensex pared its early gains in the first half of the trade and remained volatile throughout the day and ended the day 155 points lower to close at 27,735.

Shares of TCS plunged 4.22 per cent, its biggest fall since October, after country's largest software exporter posted lower-than-expected earnings in the March quarter.

On the human resource front, the group companies continue to follow one of the basic tenets of group founder Jamsetji Tata that \"people need to be taken care of and they will take care of the rest\".

The terminal, the fourth at Adani's Mundra complex in the state of Gujarat, will be built over two years in a 50-50 joint venture, Adani Ports said in a statement on Friday.

\"If Tata Steel Ltd's (Ba3 negative rating) seven mines in the Indian state of Odisha stay closed for over a year, the company's only operational crude steel making facility in India will likely face higher raw material costs and lower EBITDA levels,\" Moody's said in a statement.

Brokers said the market was in over-bought position following recent record setting spree on robust capital inflows on expectations of a stable government. Bourses saw emergence of selling by foreign funds after remaining major buyers for nearly one month on Indian bourses, they added.

Adani Ports has agreed to acquire Dhamra Port in Odisha from Tata Steel and L&T Infrastructure Development Projects (L&T IDPL) for about Rs 5,500 crore.

After a positive opening, shares of the steel major further gained 2.55 per cent to Rs 463.70 - its 52-week high on the BSE. At the NSE, the scrip went up by 2.56 per cent to touch its one-year peak of Rs 463.95.

Net income hit a three-quarter high of Rs 10.36 billion in the three months that ended on March 31, compared with a loss a year earlier. Net sales jumped 23 per cent to Rs 420.18 billion.

The Met Department on Thursday said the monsoon is expected to be below normal in 2014 because of the El Nino effect, arising from the warmer-than-average sea surface temperature in the central and eastern tropical Pacific Ocean.