Market Outlook: Indian equity markets are likely to plunge down in negative terrain on the back of US stocks ended the day in huge sell off as fears spread that Europe`s attempt to contain Greece`s debt crisis would fail. Even Oil prices tumbled below USD 83 a barrel Tuesday on a stronger dollar and a falling stock market as investors worried about the ongoing European financial crisis.
Results Today: Allcargo Global , Brigade Enterprise , DCM Shriram Cons , Elder pharma, JB Chemicals ,Lupin ,NIIT Tech ,Prism Cement ,Tamilnadu Petro ,United Brew ,TCI Finance,Lupin, Mid-Day
Global Events to watch for today:
- Bank Reserve Settlement
- Job-Cut Report
- ADP Employment Report
- ISM Non-Mfg Index
Global indices Update @ 8:
Dow Jones : 10926 (- 225.0)
NASDAQ : 2424 (- 74.49)
Nikkei 225 : 11057 (+134.61)
Hang seng : 20838 (- 397.2)
SGX CNX Nifty : 5220 (- 82.50)
INR / 1 USD : 44.56
Stocks in action for the day : Mahindra Satyam, Adani Enterprise, HCL Tech
Indian ADRs: Sterlite, ICICI Bank down 7%, Tata Motors down 5%
Satluj Jal Vidyut Nigam to list at Rs 26/share: Sources
Siddharth Pradhan Says Expect 8 PSU Issues To Hit Markets In FY11: Siddharth Pradhan Is Joint Secy, Dept Of Disinvestment SCI, MMTC, Power Grid Issues Expected In FY11 EIL FPO To Hit Mkts In June, Coal India IPO In July Hindustan Copper FPO In August, SAIL FPO In September Decision On Indian Oil FPO Later This Year Govt On Track For Rs 40,000 Cr Disinvestment Mop-up
Ashok Leyland Apr Total Sales At 6,500 Units Vs 1,750 Units (YoY) April Exports At 510 Units Vs 135 Units (YoY)
Cognizant Q1 Net Profit up 5.2% At~$151.5 m (QoQ) Revenue up 6.3% At~$959.7 m (QoQ) Net Employee Additions At~7,100
Syndicate Bank Q4 NII at Rs.859cr vs Rs.546cr ( up 57% YoY) PAT at Rs.168cr vs Rs.206cr ( Down 18% YoY) Effective Tax rate at 41% vs 11.5%
WABCO TVS (
Orient Paper Q4 Sales at Rs.547.9cr vs Rs.466cr (YoY) PAT at Rs.54.8cr vs Rs.54.5cr (YoY)
HMT Q4 Sales at Rs.59.5cr vs Rs.51.5cr (YoY) Loss at Rs.12.4cr vs Rs.25.04cr (YoY)
Hindustan Motors loss widens in Mar`10 qtr: Hindustan Motors reported the loss for the quarter ended March 2010 has widened. During the quarter, the loss of the company rose to Rs 318.20 million compared with a loss of Rs 252.80 million in the same quarter previous year.Net sales for the quarter for the quarter rose 28.57% to Rs 1,644.90 million, while total income for the quarter rose 29.06% to Rs 1,651.20 million, when compared with the prior year period.
Liberalise FDI regime in media, entertainment: The government should liberalise the FDI regime in media and entertainment (M&E) as it would create employment opportunities and generate revenue, reports agency source.
Mahindra Satyam signs up deal with BASF IT services;
Adani Enterprise Board has decided to raise funds not exceeding Rs4000cr via equity linked instruments
HCL Tech seals $500m Merck pact
Govt mulls sugar decontrol – BS
Govt extends emission norms for 2-wheelers– BS
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