Friday, March 12, 2010

BOR: Market Outlook: Indian Indices are likely to start of in positive side following Asian counterparts.

Market Outlook: Indian Indices are likely to start of in positive side following Asian counterparts. However, the Index of Industrial Production data will be the on focus which will drive the market in the latter session. The trend is still intact but profit booking at higher levels could be seen. Nifty sees supports at 5000-4950 and resistances are at 5200.

Global Events to watch for today

  • Retail Sales
  • Consumer Sentiment

Global indices Update @ 8:

Dow Jones : 10612 (+44.51)

NASDAQ : 2368 (+09.51)

Nikkei 225 : 10708 (+43.52)

Hang seng : 21193 (-34.94)

SGX CNX Nifty : 5153 (-07.00)

INR / 1 USD : 45.47

Stocks in action for the day : Mah Satyam, JSW Steel, Triveni, Sicagen

IPO corner: NMDC FPO (closes today) -Total subscription at 0.79 times (X) -QIB at 1.556X, NII at 0.006X, Retail at 0.028X, Employee at 0.04X

IL&FS Transportation Networks (March 11-15th) -Total subscription at 0.34X -QIB at 0.638X, NII at 0.0137X, Retail at 0.0288X

Pradip Overseas(March 11-15th) -Total subscription at 2.11X -QIB at 1.085X, NII at 7.055X, Retail at 1.74X, Employee at 0.0132X

Sun Pharma -Sun Pharma launches Eloxatin injections generic via US arm Caraco Eloxatin used for treating Colon, Rectal Cancer Eloxatin has annual sales of USD 1.3 bn in US

Bank Of Rajasthan -Receives shareholder nod for QIP -To raise funds up to Rs 250 crore via QIP; to be completed in next 3 months -Praveen Kumar Tayal & Group companies are promoters of bank

Sicagen India -Denmark-based over USD 12-billion facility management company ISS is acquiring a majority stake in security services firm SDB Cisco for close to Rs 150 crore -SDB Cisco is a 60:40 joint venture between Sicagen India and Certis Cisco

Sulzer India -Net sales at Rs 111.3 crore versus Rs 37.7 crore -Net profit at Rs 26.5 crore versus Rs 3 crore

Triveni board meet today for the demerger of Company's steam turbine business into a wholly owned subsidiary

DoT analysing special audit findings on Bharti Airtel:

Bajaj family to hike stake in holding company to 50%

EF to buy 10% stake in JSW Steel

Mahindra Satyam bags USD 48 million contract from a Danish IT company

Maruti Suzuki says Nissan to buy 35,000 A-Stars from company in FY11

Phillips Carbon board approves raising upto Rs 200 crore via QIP

Mah Satyam inks pact with Danish IT firm: Mahindra Satyam, the brand identity of Satyam Computer Computer Services Ltd., has signed a new four year offshore contract, worth about $48 million, with KMD, one of Denmarks leading IT companies. KMD, which specializes in the public sector, signed a renewed contract with Mahindra Satyam for the next four years ending in December 2013.

JFE to buy into JSW Steel: In what could turn out to be one of the biggest deals in the domestic steel market, Japan’s second largest steel firm, JFE Steel, is close to acquiring around 10% stake in India’s second largest steel producer. The deal is seen as significant, since the domestic steel market in Japan is shrinking, leading companies such as JFE to look at growing markets elsewhere like India. For JSW, the deal would provide it with funds to execute its upcoming greenfield projects in West Bengal and Orissa.

Triveni Engg to consider demerger of steam turbine biz: The company has board meet on March 12 to consider demerger of steam turbine business

Air traffic, airlines registering growth once again: The civil aviation sector in India seems to be coming out of the rough patch, with air traffic and airlines registering growth once again. While self-regulation by airlines to meet the severe financial crunch has led to reduction in capacity in the market, airlines and air traffic were registering growth once again and more new flights are expected to start soon.


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