Market Outlook: Indian markets may have flat to negative opening today on the back of mixed performance on the global front. Nifty has supports at 4980-5000 and resistances are at 5100-5180. Market may witness some volatility ahead of settlement.
Global events to watch for today:
- Existing Home Sales
- 4-Week Bill Announcement
- 3-Month Bill Auction
- 6-Month Bill Auction
Global indices Update @ 9:
Dow Jones : 10318 (-14.28)
Nasdaq : 2146 (-10.78)
Nikkei 225 : 9497 (-51.79)
Hang seng : 22531 (+75.85)
SGX CNX Nifty : 5065 (-12)
INR / 1 USD : 46.58
On the global counter: Wall Street ends flat; Crude prices down nearly 3% while Asian markets trading firm;
Stocks in action for the day: RIL, Lupin, Rico Auto, Vishal Retail, Aban
Lyondell Basell & RIL Update: Have received a preliminary non-binding offer from RIL
RIL (Reliance Industries) looking to acquire for cash a controlling stake in company -Have received other non-binding equity financing proposals -RIL offer in addition to other proposals received earlier -RIL offer potential alternate to plan of re-organisation filed previously -Will work towards maximising value for creditors
RIL confirms submitting preliminary non-binding offer to Lyondell Basell RIL: Cash offer for a controlling interest upon emergence from Chapter 11 -Offer preliminary & subject to~conduct of due diligence -Offer also subject to receipt of sufficient creditor support -Reviewing several global growth opportunities -Aim to grow in core business
Rico Auto Q2FY10 YoY consolidated: -Net sales flat at Rs 254.4 crore versus Rs.254.6 crore Net loss at 1.19 crore versus Profit of 3.8 crore OPM at 10.3% versus 11.6%
Agro Dutch Q2: -Net loss of Rs 37 crore versus profit of Rs 3 crore -Net sales at Rs 18 crore versus Rs 45 cror Operating loss at Rs 26 crore versus operating profit of Rs 13 crore
Telecom war continues: TATA Docomo roaming under per-sec plan: Tata Docomo the GSM brand of Tata Teleservices, on Saturday extended its per-second-billing scheme to roaming calls, intensifying the tariff war in India’s fast-growing wireless telecom market. On Friday, the country’s largest telecom operator by subscriber base Bharti Airtel launched a new billing scheme that slashed roaming rates by nearly 60%. (Telecom players in Focus)
Board meets: Asian Hotels for results for quarter ending September 30
Nagarjuna Fertiliser to enter into manufacturing chemicals for solar applications
Tata Power completes $300 million FCCB issue, bonds to be listed on
ICICI Bank raises $750 million via international bond offering with a coupon of 5.5%
Simbhaoli Sugar board approves allotment of 20 lakh warrants convertible into equity at Rs 71/sh ((CMP: 71))
Rico Auto to set up plant outside Haryana to meet raising demand and recent unrest in its 4 plants
Cracks and leaks on the Bandra-Worli sea link reports project designer Dar Consultants (HCC to be in focus)
Medicis Pharma drags Lupin to
Aban Offshore raises Rs 697.5 crore via QIP
Telecom war intensifies, DOCOMO slashes roaming to 1p/second
SBI caps invite bids for sale of 1% stake in NSE and 5.91% stake in MCX
IDBI scraps plans to sell home finance biz – IDBI Homefinance
Bajaj to raise Pulsar production
Rolta to buy US based inland security company.
HDIL stock tumbles on rumors of TDR scam
SREI Infra unit buys DPSC for Rs 172 crore from Andrew Yule lead consortium
Vishal Retail to merge Vishal Water World with itself
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