Monday, November 8, 2010

Market Outlook: Indian markets are expected to open in positive terrain

Market Outlook: Indian markets are expected to open in positive terrain on the back of constructive global sentiments. Overall trend is still intact up. The crucial support on the downside for the Nifty is 6200 and resistance at 6357

Results today: SBI, IDFC, Jain Irrigation, Jindal Saw, Oberoi Realty, Aban, ARSS Infra, Eicher Motors, Lloyds Steel, Prism Info, Venkys, Elder Health, Parabolic Drugs

Global events to watch:

Þ 4-Week Bill Announcement

Þ 3-Month Bill Auction

Þ 6-Month Bill Auction

Þ 3-Yr Note Auction

Global indices Update @ 8:

Dow Jones : 11444 (+09.24)

NASDAQ : 2578 (+01.64)

Nikkei 225 : 9722 (+96.67)

Hang seng : 24805 (- 71.58)

SGX CNX Nifty : 6335 (+26.00)

INR / 1 USD : 44.32

Stocks in action for the day: SpiceJet, Powergrid, Videocon, R Power, SBI, ABB, BoM...

Reliance Power & GE announce Rs 10,000 crore power deal (announce deal in presence of Barak Obama) Anil Ambani Says -This is a defining moment in Indo-US Energy co-operation: Reliance Power, GE to implement 2400 MW clean green project at Samalkot

Reliance Power - US Exim Bank signs MOU for USD 5 billion -MOU for R-Power's gas-based, renewable energy projects. Alert: New MOU in addition to USD 917 million EXIM Bank funds for Sasan.

Videocon Q4 -Net profit at Rs 160 crore versus Rs 149 crore (YoY) -Net sales at Rs 2,985 crore versus Rs 2,621 crore (YoY) Videocon says board forms committee to consider restructuring

NTPC to add 13,000 MW of power capacity by 2012 NTPC said it is all set to add 13,000 MW of power generation capacity by the end of the XI Five-Year Plan in 2012. ``By the XI Plan period, the company aims to put about 13,000 MW of capacity on stream, contributing to the government of India`s plans of adding 68,000 MW by that time,`` NTPC Chairman and Managing Director Arup Roy Choudhury said while addressing company employees on the 35th anniversary of the company. NTPC aims to become a 75,000-MW company by 2017 and has the core competency to achieve this feat, he said.

Larsen & Toubro eyes Oman refinery deal Engineering and construction firm Larsen & Toubro (L&T) is bidding for an Oman refinery expansion contract estimated at USD 300 million, a company official said on Sunday. ``We are bidding for the Sohar refinery expansion project as part of our commitment to help Oman`s ambitions to build its oil and gas infrastructure,`` K. Venkataramanan, President of Operations at Larsen & Toubro, told reporters. The refinery, the largest in Oman, has a capacity of 116,000 barrels per day (bpd) which would be increased to 190,000 bpd.

BoM aims at 15% growth in biz, keeps base rate unchanged Bank of Maharashtra (BoM) has taken several measures to post a healthy growth in business and profitability keeping its base rate unchanged despite RBI`s recent hike in key rates by 25 basis points. ``We are keeping the base rate unchanged at 8.25% as of now despite hike by RBI in the monetary policy. We have only revised the deposit rate by 35 basis for one year maturity,`` BoM chairman and managing director Anup Sankar Bhattacharya told PTI. He said the bank was aiming for a total business of Rs 1,200 billion, a growth of 15% over 2009-10 when it registered business of Rs 1,042.3 billion..

GVK Energy to seal Rs 12 bn deal with 3i Infra Fund GVK Energy, the energy arm of Hyderabad-based GVK Power and Infrastructure (GVKPIL), is close to sealing a private equity deal where 3i India Infrastructure Fund will invest around Rs 12 billion in it, sources said. The dedicated infrastructure fund, promoted by UK-based 3i, is likely to get around 20% stakes in the company. An announcement is likely tomorrow. Actis, the US-based private equity firm, is also known to be planning to invest in the company through the infrastructure fund. GVK did not respond to an e-mailed query, while Anil Ahuja, Head-Asia, 3i refused to comment.

Swiss tech firm ABB bags Rs 3.18 bn orders ABB, providers of power and automation technology services, has bagged an order worth USD 40 million (Rs 1.77 billion) from PMC Project (I) to supply three new sub-stations for Maharashtra Eastern Grid Power Transmission Company (MEGPTCL). It has also bagged an order from PowerGrid Corporation of India (PGCIL) worth USD 32 million (Rs 1.41 billion) for construction of two transmission sub-stations in Gwalior and Indore. The new 765 kilovolt (kV) and 400 kV sub-stations near Akola, Koradi and Tiroda in Maharashtra will transmit power from generation hubs to major centres where power is most needed, and also strengthen the regional transmission network. The project is scheduled to be completed by 2012, the company said in a release.

RIL firm may lose Kakinada-Haldia gas line project Reliance Industries (RIL) may lose authorization for the proposed 1,100-km pipeline from Kakinada in Andhra to Haldia in West Bengal. It may be given, instead, to an Andhra Pradesh state utility, as it has failed to make progress. The Andhra Pradesh Gas Infrastructure Corporation, a joint venture of AP Industrial Infrastructure Corporation and AP Genco, has issued an expression of interest (EoI) to build a pipeline for the 90 km from Kakinada to Vizag.

Pratibha Industries bags a contract worth Rs 37.44 crore for 'providing, laying, jointing and fixing of Padsali Rising Main' from Godavari Marathwada Irrigation Development Corporation, Aurangabad

Powergrid FPO price band at Rs 85- 90: Power Ministry says

SpiceJet to announce Airplane order with Boeing: Sources

Securities in F&O ban: Core Projects, Essr Oil, KS Oils, Orchid Chem, Reliance Media

RBI against pre-payment penalty levied by banks – ET

SEBI is expected to move to SAT in SEBI-MCX row – BS

Infodrive Software closed QIP and raised Rs 41.9 crore

Polyplex Corp board approved bonus of 1:1

Himadri Chemical - Ex split 10:1


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