Market Outlook: Indian equities are expected to open on positive node in line with Asian equities. However, it needs to be seen whether the gains can be sustained as investor sentiment still remains cautious. Nifty has supports at 4675-4700 and resistances are at 4830-4870.
Global Events to watch for today
- Jobless Claims
- 3-Month Bill Announcement
- 6-Month Bill Announcement
- 30-Yr Bond Auction
Global indices Update @ 8:
Dow Jones : 10038 (- 20.26)
NASDAQ : 2150 (- 03.00)
Nikkei 225 : 9936 (+31.09)
Hang seng : 20189 (+267.5)
SGX CNX Nifty : 4779 (+23.50)
INR / 1 USD : 46.68
On the global counter:
Stocks in action for the day: Religare, Fortis, Bombay Dye, NMDC, SAIL
RBI releases guidelines on base rate RBI Says: -Sub-PLR (prime lending rate) lending for loans below Rs 2 lakh stands withdrawn -Banks to exhibit information on base rate at all branches, websites -Base rate change to be made public from time to Time -Banks to inform RBI on actual minimum, maximum lending rates quarterly
-Banks should ensure interest rates charged are non-discriminatory
Divestment Secretary -To meet steel secretary today: sources -Meeting in backdrop of NMDC & SAIL FPO Divestment secretary met SEBI Chairman yesterday
Azim Premji Says: -IT industry to grow by 20% in FY11 -Software, BPO industries to be strong job generators in FY11 -Govt needs to focus on IT industry going forward
IPOs -Hathway, ARSS Infra IPOs close today Man Infra construction IPO opens on February 18, closes on February 22, price band not decided yet
Stock of Hotel Leela Ventures is flying: he stock of Hotel Leela Ventures is flying on bourses, after its showed a strong recovery in revenues and profitability in Q3. Of all the leading hotel operators, it was the only company that reported growth on year-on-year basis.
Hindalco to raise Rs 49 bn Hindalco Industries, India`s largest aluminium maker, hopes to complete Rs 49 billion of debt-raising in the next two weeks to achieve financial closure for Utkal Alumina Refinery, a 1.5-million tone per annum project in Orissa. The debt syndication was launched in the third week of December by Hindalco`s bankers, SBI Capital Markets, IDBI Bank and ABN Amro.
DLF to raise Rs 10 bn; hints at rise in housing prices The country`s biggest realty player DLF today said it planned to raise Rs 10 billion through unsecured loans by the end of this month, while hinting that prices in the housing segment could witness an increase
Wadias to up stake in
Green signal on, Cairn-ONGC JV begins work in Gujarat The Cairn
Shree Cement bullish on demand, eyes North India: Shree Cement will consolidate its presence in northern
Kingfisher plans 1:1 rights issue to mop up Rs 4 bn: The Vijay Mallya-promoted Kingfisher Airlines is likely to come out with a rights issue offering shareholders one equity share for every one they hold to raise nearly Rs 4 billion in order to retire mounting debt. The troubled carrier has appointed SBI Capital as the arranger for the issue, said persons privy to the development. The persons said with a current market capitalisation of Rs 13.41 billion, Kingfisher might offer as much as a 70% discount over the current market price of the stock to its shareholders. The Kingfisher stock closed at Rs 50.5, down 3.2% on Wednesday.
Mittal to buy 4.9pc promoter stake by Feb-end: UttamGalva
Reliance Capital sells 1.03 mn shares of Inox
Fortis Healthcare to raise up to Rs 1,250 crore
Bombay Dyeing to issue up to 3.96 million warrants on preferential basis, promoter stake to go up by 5%
Religare rights issue closes on February 15 (Monday)
JSW set to buy 2 coal mines in US
Essar Steel plans to raise $1 bn from overseas market
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