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The Reserve Bank of India (RBI) gave indications that there might be a hike in its chief rates on Tuesday, in order to check the double-digit inflation. The aim is to bring the inflation down and ensuring a stable economic growth.

Many of the European stocks climbed since the bulk of the territories banks cleared the stress tests, enhancing the poise in the financial system. The Asian equities benefitted and the U. S. index futures oscillated.

Moreover the BNP Paribas and Barclays augmented by more than 2 percent. BP plunged in by 2.2 percent as the oil group was believed to plan the reinstatement of chief executive officer. Connaught group jumped the ladders by 77 percent since the biggest U. K. public-housing Maintenance Company expressed that it needs urgent funding.

Close to a windfall rally happened at the Dow Jones on Monday. And because of this, the losses that occurred in 2010 on the Dow Jones Industrial Average were erased completely.

The round of optimism also pushed up the Standard & Poor's 500 Index above its 200-day average.

After showing an annual slump of 7.1 per cent, on July 2, the Dow advanced by 1 per cent. This happened since the US companies were able to go past the analyst forecasts in terms of profits during the second-quarter.

Leading IT firm Tech Mahindra has reported its first quarter financial results for the fiscal year 2010-11.

Tech Mahindra has declared that net profit has gone up by 10% in the quarter under review against the similar quarter for the previous financial year.

The company has posted a net profit of Rs 144 crore for the quarter that ended in 30th June, 2010. The company has registered a net profit of Rs 131.6 crore in the April-June quarter of quarter in the previous year.

Public sector lender Dena Bank has declared its financial results for the first quarter of the fiscal year 2010-11. According to the report, the bank has registered a significant 21% net profit rise in the quarter under review.

Dena Bank has reported that the net profit of the bank stood at Rs 138.79 crore for the quarter that ended in 30th June, 2010. The company has registered a net profit of Rs 115.02 crore in the same quarter in the previous fiscal year. This has been informed by Dena Bank in a filing at the Bombay Stock Exchange.

Leading FMCG player Dabur has announced its first quarter financial results for the fiscal year 2010-11. As per the report Dabur has posted a net profit of Rs 107.39 crore for the quarter that ended in 30th June, 2010 which is almost 21% up from the net profit figure of the similar quarter in the last fiscal.

The company has registered a net profit of Rs 88.95 crore in the same quarter in the previous year.