Friday, June 18, 2010
BOR: Market Outlook: Indian markets may have flat to negative opening today
Market Outlook: Indian markets may have flat to negative opening today on the back of mixed reactions from the global markets. Overall outlook for the markets today is that of cautious optimism as the bulls must hold the Nifty above the 5250 levels sustain ably to manage an upmove. Being a weekend session, buying enthusiasm maybe curtailed.
Global Events to watch for today:
Þ No Major events to watch
Global indices Update @ 8:
Dow Jones : 10434 (+24.71)
NASDAQ : 2307 (+01.23)
Nikkei 225 : 9992 (- 07.08)
Hang seng : 20274 (+136.0)
SGX CNX Nifty : 5273 (- 13.00)
INR / 1 USD : 46.50
Stocks in action for the day : RIL, JP Associates, Tulip, Binani Cement, Surya Pharma...
Reliance Industries (RIL) Annual General Meeting (AGM) today
Reliance Industries may buy 26% stake in Pipavav Shipyard: Mukesh Ambani-owned Reliance Industries (RIL) may pick up a 26% stake in Pipavav Shipyard (PSL),
Bajaj Hindusthan board clears merger with unit:
Morgan Stanley buys additional one lakh shares in Parkway: Amid the tussle between Fortis Healthcare and
Binani Cement: Buyback offer positive for company and investors: Binani Cement, which is focused on northern and western regions, has announced a buyback plan at a price not exceeding Rs 90 per share, which represents a premium of nearly 9.6% to Thursday’s closing price of Rs 82.15. The buyback price values the company 6.3 times its trailing four-quarter earnings.
Qualcomm to sell 26% stake to Tulip:
Ranbaxy may wind up Mohali unit India`s largest drugmaker Ranbaxy Laboratories may close down one of its biggest global bulk drug production units at Mohali, and is sourcing few products made at the facility from local drugmakers ahead of the closure, two people familiar with the matter said. Although Ranbaxy has been looking to outsource manufacturing of certain products, it planned to restrict the strategy to small markets. In its latest annual report, the company said it will look to outsource either products or manufacturing capacities for its business, but in countries which are outside its top 20 markets.
Kansai Nerolac to invest Rs 4 bn to expand capacity Kansai Nerolac Paints (KNPL) plans to invest Rs 4 billion over the next two years to augment the production capacity of its Hosur plant by 20%, a top company official said. The current capacity of the plant is around 15,000 tonnes. ``As part of the second phase of the project, we want to increase its capacity by 20% in the next two years. For this, we plan to spend Rs 4 billion,`` Kansai Nerolac Paints Chairman J J Irani said at the annual general meeting of the company today. A portion of the funds will be utilised for other projects as well, he said.
Surya tie-up with
IOC : sources say -IOC may consider issuing 10% fresh equity -IOC may consider raising up to Rs 8,000 crore IOC may consider move if price at Rs 400/share ((CMP; 337))
Ex-Dates -CMC : Ex-Dividend @ Rs 20/share -TTK Prestige : Ex-Dividend @ Rs 10/share
Uflex: Board meet on June 21 for raising Rs 750 crore via QIB
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