Tuesday, March 23, 2010

BOR: Market Outlook: Indian Markets may open flat and trade sideways given mixed cues from global shores.

Market Outlook: Indian Markets may open flat and trade sideways given mixed cues from global shores. Volatility is likely with the F&O expiry for March due later this week. Volatility is also likely to be high with the F&O expiry for the March series due later this week.

Global Events to watch for today

  • Goldman Store Sales
  • Existing Home Sales
  • House Price Index

Global indices Update @ 8:

Dow Jones : 10785 (+43.91)

NASDAQ : 2395 (+20.99)

Nikkei 225 : 10797 (- 37.21)

Hang seng : 21158 (+225.3)

SGX CNX Nifty : 5243 (+33.50)

INR / 1 USD : 45.49

Stocks in action for the day : Videocon, Jindal Cotex, GE Ship, IVRCL

Alok Industries – sources: -Alok Industries QIP book opens -Alok Industries to raise between Rs 350-460 crore via QIP -Alok Industries QIP issue priced at Rs 23.32/share ((CMP: 23.25))

Welspun Gujarat: -Open offer for MSK Projects at Rs 130.50/share ((CMP: 150)) -Open offer for MSK Projects from May 6 to May 25

Cadila - PharmAsia News Cadila in pact with US-based NIH to develop new HPV (human papilloma virus) Vaccine -HPV is known to be a major cause of cervical cancer -Cadila's vaccine based on Measles Vaccine platform technology that can be used earlier than existing products -Gardasil of Merck and Cervarix of GSK are the two HPV vacs in market -Cadila's vaccine will immunize against strains more prevalent in India

IVRCL to sell chunk of its 3300 acres land to unlock value, management says working on a plan of accruing at least Rs 100 crore every year

Fresh trouble for Wockhardt as offshore lenders may move to court

GE Shipping board approves IPO of subsidiary Great Ship

TRF acquires UK based Hewitt Robins Int for 3 million pound

Jindal Cotex board approves fund raising of up to Rs 150 crore via rights issue and upto USD 50 million via GDR/FCCB issue, to raise FII limit to 74% from 24%

Videocon led consortium strikes additional gas in Mozambique field (Both BPCL and Videocon has 10% participating int in the block)

UltraTech Cement shareholders approves scheme of arrangement of amalgamation of Samruddhi Cement

HDFC Standard Life says IPO plans delayed by a year to FY12

Ex-dividend: ACC (Rs 13/sh)


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