Thursday, December 8, 2011

Stocks in action for the day: Sesa Goa, Britannia, UTV Soft, Moser Baer

Market Outlook: Indian markets are expected to open negative backed by weak Asian markets. Further investors will keep an close eye on the inflation numbers due later today. Market consensus expect RBI (Dec 16th) to consider a CRR cut given tight liquidity, hence markets waits for fresh direction

Global Markets: The US markets spiked in the final minutes of trading following a report that the G20 is considering a 600 billion dollars IMF lending program to euro zone, but came off their highs to close flat after the IMF denied the report. Investors are also closely waiting for the key EU summit at the end of the week. Asian markets trading weak; Taiwan Weighted down

Global events to watch:

  • Consensus estimates indicate a decline in weekly jobless claims to 395,000. Meanwhile, wholesale trade data is expected to rise to 0.4 % in October.
  • Bank of England interest-rate meeting.
  • U.S. wholesale inventories for October.

Global indices Update @ 8:

Dow Jones : 12196 (+46.24)

NASDAQ : 2649 (-00.35)

Nikkei 225 : 8635 (-86.88)

Hang Seng : 18974 (-265.8)

SGX CNX Nifty : 5052 (-14.00)

Gold (USD/t oz.) : 1742

Nymex Crude (F) : 101.28

INR / 1 USD : 51.44

TECHOUTLOOK : Support for Nifty is at 4920 resistance at 5100.

Call for the day:

Buy Dabur SL 92 Target 100 (Positional call)

Stocks in action for the day: Sesa Goa, Britannia, UTV Soft, Moser Baer

SAIL gears up to catch up with Tata, JSW Steel in auto, white goods segment: State-run Steel Authority of India Ltd (SAIL) wants to catch up with rivals Tata Steel and JSW Steel in steel supplies to automotive and white goods sectors over the next two years. For this, the company expects its current modernization and expansion drive will help produce the kind of steel used in these sectors.

SKS faces collection problems in West Bengal, Gujarat: SKS Microfinance Ltd, which has been hit by the Andhra Pradesh microfinance crisis, is now facing collection-related problems in parts of West Bengal and Gujarat.

Housing finance regulator National Housing Bank (NHB) said it will raise about Rs 4,500 crore this fiscal to fund housing activities.

Credit Suisse Group cut its earnings estimates for the BSE’s Sensex companies by 7% to . 1,300 for the year ending in March 2013,

The industry ministry has notified the changes in the foreign direct investment regime for the pharmaceuticals sector approved by the union cabinet. Under the new regime, all FDI into Indian pharmaceuticals companies will have to be approved by the government. However, green field foreign investment in the sector will continue to be on the approval rout

Sesa Goa, a Vedanta Group company, acquired a 1.5 per cent equity stake in Cairn India for Rs. 936 crore through a two block deals on the BSE.

Textile Secy Says Met Officials Of Fin Min, RBI, Reps On Debt Restructuring Inter-ministerial Meeting To Discuss TUFS Monitoring TUFS: Technology Upgradation Funds Scheme
No Crisis Situation In Textile Sector; No Major Bank Defaults There Is Reversal In Profits Of Textile Cos During 2011 Will Work With RBI, DFS To Work Out Sol For Working Cap Bk Exposure To Textile Sector Divided Amongst Several Units Seeking Resetting Of Repayment Timing; No Govt Outgo Involved Debt Restructuring For Textile Sector Not A Handout By Govt

Dilip Shanghvi, the promoter of India’s biggest drug maker Sun Pharmaceutical Industries, has bought a minority stake in Natco Pharma for Rs 18.34 crore.

India's largest micro lender SKS Microfinance plans to raise a maximum of 5 billion rupees through a share sale to institutional investors by March 2012,

The cabinet on approved foreign direct investment inflows worth Rs14,250 crore. It allowed American entertainment giant Walt Disney Company, South East Asia, Singapore to take complete control of Mumbai-based UTV Software Communications. The decision increased Walt Disney’s stake in UTV Software communications from 48.02% to 100%.

India’s leading carmaker Maruti Suzuki plans to start exporting select models as completely knocked down (CKD) kits, beginning with its new multi-passenger vehicle Ertiga, which it plans to launch at the Auto Expo in Delhi next month.

The government has given final approval for Cairn Energy's $6.5 billion sale of a majority stake in its Indian assets to Vedanta Resources.

Coal India Ltd the state-run company announced that it had lowered its production target for the fiscal year to 440 million tonnes from 453 million tonnes outlined in its annual plan.

Maruti Suzuki India Ltd the automaker is expected to hike prices from January on account of rupee falling against the US dollar in the recent months.

Britannia Industries Ltd the biscuit maker pink slipped 42 executives in a single day signaling that FMCG companies, faced with soaring costs and hyper-competition, were cracking the whip on under performers.

Kingfisher Airlines Ltd the Hong Kong-based private equity firm, Bravia Capital is said to be eyeing an investment in Kingfisher Airlines.

The Cabinet Committee on Economic Affairs (CCEA) cleared a Rs 8,750 crore package for West Bengal.

Car Cos to Hike Prices by up to 3% as Falling Rupee Weighs Heavy.

Wipro to invest Rs 700-800 cr for second campus in Bengal.

Moser Baer to Invest $1 b in Solar Projects.

NHAI threatens to cancel Delhi-Gurgaon toll road operator's rights.

100% FDI in Single-brand Retail Coming, But with New Riders.

F&O Ban: ABG Shipyard, Gitanjali gems, RuchiSoya.


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