The BSE benchmark index Sensex surged by nearly 138 points in morning trade on sustained buying by funds and retail investors triggered by a firming trend on other Asian bourses.

NRI steel baron Lakshmi Mittal on Sunday said he was able to prove his Principal wrong when he topped Saint Xavier's College in Calcutta even though he was earlier denied admission for not being fluent in English.

The board of Yahoo! has agreed to a deal to purchase the popular blogging platform Tumblr for USD 1.1 billion, a newspaper said on Saturday.

Taking a cue from the continued downward surprises in inflation and sluggish growth indicators, the Reserve Bank of India is likely to go for further monetary easing in its June 17 policy meet, global investment banking majors have said.

Amid the uproar over investment fraud in West Bengal, an Inter-Ministerial Group will hold its first meeting this week to suggest ways to deal with such schemes against the backdrop of demands within a Parliamentary Committee for scrapping of chit fund schemes.

Overseas investors have poured in nearly Rs 12,000 crore (about USD 2.2 billion) into the Indian equity market so far this month.

Income Tax department has slapped a fresh USD 106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India's second largest IT firm.

With a view to attracting foreign investments, Finance Minister P Chidambaram will visit Dubai on May 26 and engage with sovereign wealth funds to sell the India growth story.

The estimated Rs 950-crore IPO of local search engine Just Dial will begin on Monday and is one of the largest initial public offers by an Indian Internet company. The IPO, which does not have issue of fresh shares, would see promoters offloading 17.49 million shares. This would make up for 25.2 percent of the company's paid up equity capital.

Stock markets may witness some consolidation this week after key indices closed at fresh multi-year highs and corporate earnings from SBI, Tata Steel and Larsen & Toubro will decide the course, experts said.