NEW YORK, April 8 U.S. junk bond mutual funds reported $417 million of net inflows in the week ended April 7, following $297 million in inflows the previous week, LipperFMI reported on Thursday.
Junk bonds, which are rated below investment grade and pay higher yields to compensate for their risk, have returned 5.3 percent in the year to date, after earning more than 57 percent in 2009, their best-ever performance. (Reporting by Karen Brettell; Editing by Dan Grebler)
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India's largest drugmaker Sun Pharmaceutical Industries Ltd reported a near-doubling in fourth-quarter profit, although that missed analysts' estimates as weakness in emerging markets outweighed higher sales in India and the United States. Full Article