Market Outlook: Indian markets are likely to see a flat to negative opening today on the back of mixed performance on the global counters. Nifty has supports at 4900-4930 and resistances are at 5050-5100.
Imports up 35.5% in Jan, signal economy on track:
Global Events to watch for today
- MBA Purchase Applications
- Challenger Job-Cut Report
- ADP Employment Report
- ISM Non-Mfg Index
Global indices Update @ 8:
Dow Jones : 10405 (+02.19)
NASDAQ : 2280 (+07.22)
Nikkei 225 : 10253 (+31.99)
Hang seng : 20928 (+22.63)
SGX CNX Nifty : 5030 (- 04.00)
INR / 1 USD : 46.02
Global Counter: Wall Street ends flat; commodity gains, dollar slips while Asian markets trading firm; Hang Seng, Nikkei up.
Stocks in action for the day : RIL, Tata Motors, Nectar Lifesciences, GDL, Tulip Telecom
LyondellBasell rejects Reliance Industries
Tata Motors up 11% on robust Feb sales, result: Shares in Tata Motors rallied more than 11 percent on Tuesday afternoon as investors cheered the top Indian vehicle maker
US pvt equity firm buys over 30% in Nectar Lifesciences: US-based private equity firm — New Silk Route Partners (NSR) — has picked up a little over 30% stake in Chandigarh-based listed pharma company Nectar Lifesciences for Rs 250 crore at Rs 35 per share. The deal was structured through a combination of global depository receipts (GDRs) and fresh shares so that the transaction does not trigger the takeover code of the Securities and Exchange Board of India (Sebi).
HSBC India profit declines 44% in year 2009: Global banking major HSBC`s India operations reported a massive 44% decline in net profit at USD 374 million in 2009, due to growth in loan impairment charges and deterioration in credit quality, reports agency sources.
RBI grants infrastructure status to cold storages: The Reserve Bank today allowed companies setting up cold storage facilities to raise funds abroad, thereby giving the infrastructure status, reports agency sources. The decision to grant infrastructure status to cold storage and cold room facilities by the RBI follows the Budget announcement to this effect. As per the definition, the infrastructure sector includes power, telecommunications, railways, roads, including bridges, sea ports and airports, industrial parks, urban infrastructure (water supply, sanitation and sewage projects), mining, exploration and refining. the definition of infrastructure sector, for the purpose of availing of external commercial borrowings (ECBs) to include cold storage or cold room facility, including for farm level pre-cooling, for preservation or storage of agricultural and allied produce, marine products and meat
Citigroup Global increases stake in Tulip Telecom: Foreign fund house Citigroup Global Markets Mauritius has hiked its stake in IT solutions provider Tulip Telecom to over 5% by purchasing shares worth Rs 531.6 million through open market transaction, reports agency sources.
Ranbaxy loses out on FDA delay: Ranbaxy Laboratories’ stab at potential sales of millions of dollars has come to naught after it failed to secure the American drug regulator’s permission to market the generic, or copycat, version of a blockbuster drug in the
Nissan mulls $5,000 car with Ashok Leyland: Japanese autocar giant Nissan, which is already partnering Bajaj and Renault in developing an ultra low cost car, announced on Tuesday Nissan that it was in talks with Ashok Leyland for developing a small car for the global market that could be priced at around $4,500-5,000 (about Rs 2.25 lakh-2.50 lakh).
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