Market Outlook: Indian markets may have positive opening today on account of strong global cues. Nifty has supports at 4700-4730 and resistances are at 4850-4900.
Global Events to watch for today
- Bank Reserve Settlement
- MBA Purchase Applications
- International Trade
- 10-Yr Note Auction
- Treasury Budget
Global indices Update @ 8:
Dow Jones : 10058 (+150.2)
NASDAQ : 2150 (+24.82)
Nikkei 225 : 10035 (+102.8)
Hang seng : 19922 (+131.9)
SGX CNX Nifty : 4830 (+42.00)
INR / 1 USD : 46.68
On the global counter: Wall Street ends higher; Dow gains 150 points & Asian markets trading higher; Hang Seng, Nikkei up. Wall Street staged a powerful surge on optimism that help was on the way for
Stocks in action for the day: Bharti, Fame, Kirloskar Bros, Sadbhav Engg & Goodyear, Chettinad Cem, Kilburn, GTC, Fortis, SAIL
NTPC FPO: -NTPC FPO clearing price for QIBs at Rs 202 versus Rs 201 floor price: ALERT: Maximum bids for NTPC FPO received at Rs 209
Oil pinch: Cabinet to take final call: An increase in the prices of petrol and diesel appears imminent as top Congress leaders prepare on Wednesday to ponder the Kirit Parikh panel report that has recommended radical overhaul of the fuel pricing system in the country.
Bharti contributes 24% of SingTel’s global profit: The largest telecom company of India by revenue and customer, Bharti Airtel, has accounted 24% of SingTel’s profit of S$ 991 million for the three-months ended December 09, the Singapore-headquartered telco.
Rel Capital picks 1.6% in Fame: Reliance Capital Partners, a group firm of Reliance ADA group, on Tuesday bought 1.6% stake through open market purchases in multiplex operator Fame
SBI to continue with teaser rates till March end:
Copper, oil & sugar top picks, says Morgan Stanley: Copper, crude oil and sugar are the top picks among commodities, with the three set to gain on increasing emerging-market demand and supply constraints as the global economy recovers, according to Morgan Stanley.
Ennore Coke to invest Rs 750 million in Haldia plant Ennore Coke, a domestic manufacturer of metallurgical coke, would invest Rs 750 million in scaling up the capacity of its coke plant at Haldia (
Kirloskar Bros bags order from GWSSB for installing solar pumps Kirloskar Brothers (KBL), the largest pump manufacturer & turnkey contractor in
L&T Infotech: -IPO plans on track, cannot define timeline for now -Will look at acquisitions in retail, banking space -Budget for acquisition varies between USD 150-200 million
L&T General Insurance: -L&T General Insurance Venture receives initial nod from IRDA: Srcs -L&T General receives R1 approval from IRDA: Srcs R1 is the first stage of regulatory approval
Board meets today: -Fortis Healthcare - raise funds upto Rs 1000 crore -DIC India – Q3 results -Bombay Dyeing: issue of Warrants to Promoters on a preferential basis -Indowind Energy - allotment of share warrants on preferential basis. -Balaji Amines - consider setting up of a hotel at solapur (low volume)
Ex- dates: -Consolidated Construction- stock split from 10 to 2 -KRBL – stock split from 10 to 1 Mounteverest Trading – bonus of 3:1 -Oil
Govt may up import duties on foreign power generation equipment:
Shriram Properties sells 49% stake to ICICI Pru for Rs 40 crore
BSNL mulls private placement as IPO hopes fade (May divest 5-10% stake)
Koutons to open 100 more family concept stores by end-FY 11
Chettinad Cement board approves scheme of arrangement with Allied Minerals and Metals in the ratio of 1:46
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