Market Outlook: Indian stocks seen lower on RBI action & weak global cues. Market may have a knee-jerk reaction to Reserve Bank of
Global Events to watch for today
- 4-Week Bill Announcement
- 3-Month Bill Auction
- 6-Month Bill Auction
Global indices Update @ 8:
Dow Jones : 10741 (- 37.19)
NASDAQ : 2374 (- 16.87)
Nikkei 225 : 10824 (+80.69)
Hang seng : 21120 (-250.39)
SGX CNX Nifty : 5180 (- 89.50)
INR / 1 USD : 45.49
Stocks in action for the day : Cipla, Lupin, UltraTech Cement, Television18
Cipla to replace Sun Pharma in Sensex from May 3: Drug major Cipla will replace its peer Sun Pharmaceuticals on the Bombay Stock Exchange
Biocon a good bet for mid-cap space: AFTER a poor show in earnings for the fiscal year 2009,
RIL goes back to ONGC for Venezuelan oil block After the USD 14.5-billion LyondellBasell takeover deal turned sour, Reliance Industries (RIL) has renewed talks with the ONGC-led consortium to pick up a stake in the Carabobo-1 oil block in Venezuela, a consortium member told ET. RIL had approached ONGC to pick up about 20% stake in the field last year but later lost interest due to its preoccupation with proposed LyondellBasell acquisition.
Tatas line up compensation package for Nano vendors Tata Motors has readied a compensation package for Nano vendors who were forced to relocate their units to Sanand in
NHAI modifies bidding norms for highway projects National Highway Authority of India (NHAI) has modified some of the norms in model documents for Build-Operate-Transfer-(BOT) projects i.e. Request for Qualification and Request for Proposal (RFQ/RFP) to resolve the procedural impediments which have been blocking projects.
Bharti ties up USD 8.5 billion to finance Zain buy Bharti Airtel, India`s largest telecom firm by revenue and number of customers has finalised USD 8.5 billion of funding for its acquisition of the African assets of Kuwait`s Zain as well as a likely foray into third-generation, or 3G, telecom services in India.
NTPC eyes 1000 Mw renewable power project National Thermal Power Corporation (NTPC) plans to undertake renewable energy power projects having capacity of more than 1000 Mw. Taking a first step forward in this direction, the public sector giant has entered into a memorandum of understanding (MoU) with the state government-run Gujarat Power Corporation (GPCL) for putting up solar and wind power plants to the tune of 500 Mw in Gujarat.
TVS launches new bike TVS Motor Company has announced the launch of its new model TVS Jive, India`s first auto-clutch motorcycle, in Chandigarh. With this launch, the company expects that it sales in
Shree Ganesh IPO good bet for investors with higher risk appetite: Shree Ganesh Jewellery House is the second company from the gems and jewellery space to enter the primary market with an initial public offering in the past two months. Shree Ganesh, a manufacturer and exporter of the handcrafted plain and studded gold jewellery, was incorporated in 2002. In March 2008, PE firm Credit Suisse invested Rs 80 cr in the company for a 10.99% stake at a price of Rs 300/-. Post issue, the company will be valued at 9.6 times its annualised H1FY10 earnings at the higher end of the prize band and 10 times at the lower end. Hence, the valuation is a tad higher compared to the P/E ratio of established players, such as Su-Raj Diamond and Gitanjali Gems in the range of 8-9 .5.
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