In the news: Rupee convertibility back on Rajan's radar, HUL earnings and more

Though there is not a single business news story which can be termed less important, there are some which stand out among those we cover during a day. Here are the top five of them which we found the most relevant today.

Sahara agrees to pay bail to release Subrata Roy Subrata Roy has been held in jail for more than a year after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal.

Hindustan Unilever Q4 net up 16.73% at Rs 1,018.08 cr The FMCG major's net sales climbed to Rs 7,555 crore in the quarter under review, compared with Rs 6,935.82 crore a year earlier, up 8.92 per cent, the company said in a BSE filing.

PNB Q4 net profit falls 62% as bad loans hurt The New Delhi-based bank said standalone net profit plunged to Rs 307 crore ($48 million) for its fiscal fourth quarter to end-March, from Rs 806 crore a year earlier.

Raghuram Rajan puts rupee convertibility back on agenda  Rajan called in April for full convertibility in "a short number of years", having first raised the prospect when he took office in 2013. While it is unlikely to be realised during his current term, he is laying the ground work for it to happen.

Sensex, Nifty jump over 1.5%: Five reasons why The BSE Sensex wiped out more than half of its losses of this month on Friday, surging 506.28 points to close at 27,105.39. The 50-share NSE Nifty also gained 134.20 points, closing the week at 8,191.50.