Market Outlook: Indian markets may have flat to negative opening today on the back of mixed performance in the global counters. Nifty has supports at 5000 -5050 and resistances are at 5180-5250. Some volatility is expected on account of Future and Options settlement day.
Global events to watch for today:
- US Holiday: Thanksgiving Day
- All Markets Closed
Global indices Update @ 9:
Dow Jones : 10464 (+30.69)
Nasdaq : 2176 (+06.87)
Nikkei 225 : 9445 (+03.72)
Hang seng : 22403 (+208.4)
SGX CNX Nifty : 5081 (-30.5)
INR / 1 USD : 46.34
On the global counter: Wall Street ends with moderate gains; Dow up 30 points while Asian markets trading flat. The
Stocks in action for the day: RIL, Siemens, Tata Steel, ITC, OBC
Results today: Siemens (Q4 and FY09), Tata Steel (Consolidated numbers for H1)
Ex-bonus: RIL (1:1)
ITC - -ITC board considering several options for EIH stake -ITC may consider counter-offer for EIH ITC counter-offer if Analjit Singh makes open offer -Alert: ITC holds 14.98% in EIH -ITC may hike stake to maximum 25% -25% does not amount to hostile takeover, does not imply control -ITC may also consider diluting EIH stake or exit -ITC board to take call after considering all options
Godrej Consumer, Marico - Godrej Consumer, Marico bid for
Asian Hotels Jul-Sep: -Net sales at Rs 89 crore versus Rs 112 crore -Net profit at Rs 0.94 crore versus Rs 17.3 crore
Zee News and TV Today report profits: For companies in the news broadcast business the quarter to September 2009 has been an uneventful one. Only broadcasters with a regional focus were able to report profits, while those competing for a pie of the English news segment continue to struggle. Among six listed news broadcasters, only Zee News and TV Today reported a net profit in the second quarter. While other broadcasters including NDTV, IBN Broadcast, Television Eighteen India and UTV Software Communications reported losses. For the September quarter, Zee News — the country’s largest broadcaster in Hindi and regional languages — reported 26% YoY jump in net sales to Rs 155 crore, thanks to higher advertising revenues. Its net profit rose 10% to Rs 12.6 crore compared with the year-ago period.
RBI says ((Dena Bank may see profit booking)): -Time for bank consolidation has not come -Financial inclusion more imp versus bank consolidation -Have very few dominant banks; consolidation will up problems
SBI Credit offtake bad -Sanctions happening, disbursals not happening -Retail credit growth taking place
Vijay Mallya : Airlines not happy with ground handling policy changes -Airlines to come together; form comm headed by FIA Chairman -Airfares not sustainable for long at current levels: Vijay Mallya -Airfares may go up this season: Vijay Mallya
OBC board approves raising Rs 300 crore Tier I capital
RBI nod needed for further FII buying in Pantaloon Retail
Infotech Enterprise mulls 2 acquisitions in US for up to $40 million
Govt mulls option for Balco stake sale, working on an amicable pricing formula
Govt considering canceling NTPC’s Rs 2000 crore order to Russian company for alleged kickbacks
Indian ADRs: Satyam down 8%
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