Friday, June 25, 2010

Market Outlook: Indian markets to start off in negative terrain today

Market Outlook: Indian markets to start off in negative terrain today taking cues from the global counterparts which are in red. Nifty to trade in a range and could correct till 5100 before moving up to 5400 levels.

Global indices Update @ 8:

Dow Jones : 10153 (-145.64)

NASDAQ : 2217 (- 36.81)

Nikkei 225 : 9784 (-143.58)

Hang seng : 20690 (- 43.58)

SGX CNX Nifty : 5295 (- 19.00)

INR / 1 USD : 46.31

Stocks in action for the day : Stocks in news: GMR Infra, Alstom, FCS Soft, Zenith Birla

GMR Infra

Wins Male International Airport expansion project

GMR highest bidder with USD 78 million for the project

GMR to take 1% profit till 2014

GMR to take 10% profit from 2015-25

Another unsuccessful bidder GVK offered USD 27 million HCL Corp to sell 1 cr shares or 1.48%

Alstom to form N-power JV with Bhel, NPC:

French industrial engineering major Alstom will formalize its tripartite joint venture agreement with state-owned Bhel and Nuclear Power Corporation of India over next few months to help it tap around 45,000 mw nuclear power expected to come up in India over the next 10-15 years.

SK Tayal: Bank of Rajasthan sending relevant papers to RBI for merger approval. RBI to decide on validity of shareholders' vote.

JSL : Bondholders agree to re-structure Bonds , ((Extention of maturity by 10 years)).

Zenith Birla (India) :
Approved Bonus share in ratio 1:5.

FCS Software :
Wins a contract with revenue potential of Rs 200 crore over 3 years.

Motilal Oswal : Issue of Preferential shares to promoters.

BNSL lashes out at TRAI for taking only private calls.


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