Market Outlook: Indian stocks are likely to open on a higher note spurred by investor sentiment across global markets. Nifty has supports at 5180-5200 and resistances are at 5300-5330.
Oil Update: Petrol, diesel rates to rise up to 50 paise litre from tonight. Petrol prices will go up by 50 paise a litre from midnight tonight in 13 big cities, including
Economic update: Feb exports up 34%, import surge signals strong revival: Exports went up in February 2010 for the fourth straight month to $16.09 billion, an impressive growth of 34.8%. Imports, too, maintained momentum growing by 66% to $25 billion underscoring the strong revival in the domestic economy.
Global Events to watch for today
- Motor Vehicle Sales
- Challenger Job-Cut Report
- Jobless Claims
- Construction Spending
Global indices Update @ 8:
Dow Jones : 10856 (- 50.79)
NASDAQ : 2410 (- 12.73
Nikkei 225 : 11168 (+78.97)
Hang seng : 21440 (+201.2)
SGX CNX Nifty : 5294 (+30.00)
INR / 1 USD : 45.14
Stocks in action for the day : Noida toll bridge, IRB Infra, Spanco Tele, Bartronics, Sayaji Hotel.
From today April 1, pay more for driving on toll roads: High inflation rate is set to make your travel expensive on tolled highways from April 1. As per revised toll notifications issued by NHAI for about two dozen sections of national highways, the increase in toll rate per km for the year 2010-11 is approximately double than the average increase in the past two years. Toll prices go up 3% starting today
Videocon, Elcoteq call off stake sale negotiations: Elcoteq, a Finnish contract manufacturer of electronic goods, on Wednesday said negotiations for sale of its controlling stake to Indian consumer durable major Videocon have failed to fructify into a deal. After a mutual re-assessment, Elcoteq and Videocon have decided to terminate the negotiations aiming at Videocon becoming a major shareholder in Elcoteq. n September 2009, Elcoteq had informed its stock exchange that it has signed a “non-binding Letter of Intent with Videocon Industries, granting the authority to negotiate and finalise a potential Definitive Transaction Agreement.
Intrasoft Tech sets issue price at Rs 145 a share: Intrasoft Technologies, which operates the website www.123greetings.com, has fixed the issue price for its IPO at Rs 145 per equity share. The issue which opened for subscription on Mar. 23, 2010 and closed on Mar. 26, 2010 received a good response from investors and was subscribed 18.95 times. The overwhelming response was seen from non-institutional investors, their reserved portion got subscribed 21.60 times followed by retail and qualified institutional investors, which portion overbid 13.51 times and 21.97 times, respectively.
Spanco Telesystems may bag Rs 300-cr
IT to get Rs 600 crore more in UID project: The Prime Minister’s prime projects, the Unique ID rollout, is likely to be allocated almost Rs 1,300 crore for distribution among states under its current budgetary provision. The total budgetary provision for UIDAI is Rs 1,900 crore under the Union Budget for this year. However, a detailed titlewise allocation of the Rs 1,900 crore shows ‘information technology’ to be allotted Rs 130 crore under the planned allocation.
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