Thursday, January 13, 2011

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 momentum seen in the global counters. Infy results may keeps market under check. We are entering into results saga, so expect some result oriented performance rather than sector specific. The crucial support on the downside for the Nifty is 5800 and resistance at 5888.

Results Today: Infosys, SAIL, Sintex

Global events to watch

Þ Jobless Claims

Þ International Trade

Þ Producer Price Index

Global indices Update @ 8:

Dow Jones : 11755 (+83.56)

NASDAQ : 2737 (+20.50)

Nikkei 225 : 10580 (+67.78)

Hang seng : 24281 (+155.8)

SGX CNX Nifty : 5879 (+11.50)

INR / 1 USD : 45.16

Stocks in action for the day: Career Point, Coromandel, Geojit BNP, Infy

Tata Steel FPO (CNBC reported the details yesterday) – Sources -Company gets RoC approval for FPO -FPO to open on January 19, close on January 21 -Anchor date will be January 18

Oil Secretary says – Agencies -Hopeful to have market-based pricing mechanism for diesel -Difficult to talk of freeing diesel prices at current crude rates -Fuel retailers' revenue loss likely at USD 14 billion this fiscal -On look-out for more crude oil supplies as demand increases -There will be no stoppage of crude supplies from Iran -Companies procuring Iranian oil by giving guarantee of payment

JSW Steel - Sources -Lenders approve Ispat's takeover by JSW Steel -Lenders to convert Rs 191.4 crore loans to equity at Rs 14.70/share -Recompense issue to be taken up later CNBC-TV18 alert: JSW Steel to refinance Ispat's Rs 8,400 crore debt in September JSW Steel to hold 41% in Ispat for Rs 2,157 crore

JSW Steel - NewsWire18 -JSW Steel to hike prices of flat products by 2-3% soon -JSW Steel to hike flat product prices on high input costs

Geojit BNP Paribas Financial (Consolidated Q3 FY11) -Net sales at Rs 76 crore versus Rs 71.3 crore -PAT at Rs 12.2 crore versus Rs 12.4 crore

Coromandel International Q3 -Consolidated net profit at Rs 150 crore versus Rs 145 crore (YoY) Consolidated net sales at Rs 2,043 crore versus Rs 1,757 crore (YoY)

Listings on January 14 -Kalyani Invest -BF investments

Setback for FDI hike in insurance, Parliamentary committee against raising foreign investment limit to 49% from 26% (TOI)

Hindusthan National Glass to invest Rs 800 crore in 150 MW captive power plant (BL)

Andhra Bank ups interest rates on some deposits by 50-60 bps

Kingfisher in F&O ban (Orchid Chemcial out)

SAL Steel signs MOU with Gujarat govt for establishment of the Cement project at Kachchh.

Jaihind Synthetics board meet on Jan 14 to allots 1.3 crore shares at Rs 34.8/share

Punjab Alkalis And Chemical: govt approved 12 EOI for disinvestment of Punjab govt stake in the company

PNB restructures its JV, sells 30% stake in distribution JV Company to PFG, buys PFG and Berger Paints stake of 26% and 25% respectively in Insurance Broking Company

Career Point signs MOU with Gujarat govt to set up educational institutions

Maharashtra Seamless signs deal with NTPC Vidyut Vyapar Nigam Ltd for a period of 25 years for selling electricity to be generated by the 5 MW capacity 'Solar Photovoltaic Power Project

HCC signs MOU with Gujarat govt with an investment of 12000 crore for developement of Renewable Energy park at dholera

Punj Lloyd Group signed a 25 year power purchase agreement with NTPC Vidyut Vyapar Nigam Ltd or sale of power from a 5 MW PV based Solar Power plant to be built at Rajasthan.

Suzlon Group signs MoU with Gujarat Government to develop 1,000 MW of wind power'


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