Markets are rejoicing on comments regarding continuation of stimulus for some time. The governing council expects the key ECB interest rates to remain at present or lower levels for an extended period of time, ECB President Mario Draghi said. The Bank of England cautioned investors they were being too quick to bet on higher UK rates.
The Indian market will look at building on Thursday’s gains. European markets surged following comments from the Bank of England and the European Central Bank signaled that, unlike the United States, they are in no hurry to unwind stimulus. US markets were closed for Independence Day. Asian indices are up for now but will want to check the US jobs report due later in the day.
Pharma counters could be in action as the Foreign Investment Promotion Board is likely to take up FDI proposals for clearances, including 10 proposals in pharmaceutical sector.
Unilever's open offer aimed at increasing its stake in its Indian arm Hindustan Unilever from 52.48 per cent to up to 75 per cent, closed on Monday. The issue got subscribed almost 66% as investors tendered 320 mn shares in the 487-mn-share open offer. Unilever's stake in HUL will now increase to 67.28% and at Thursday's exchange rate will lead to inflows of $3.19 billion into the country.
Crompton Greaves board approved a buyback of its shares up to a maximum of Rs 125 per share, or up to Rs 265.7 crore, at the higher end. Crompton is offering a premium of over 40% to its existing stock price of Rs 87.3.
Rakesh Jhunjhunwala on Tuesday picked up nearly 4% stake in BPO service provider Firstsource Solutions for an estimated Rs 25 crore from private sector lender ICICI Bank and others. The stock hit the upper ceiling for the day.
AGMs today include Havells India, Mount Everest Mineral Water, Sobha Developers, Shriram Transport Finance Co among others.
Kalindee Rail Nirman (Engineers) will consider raising funds by way of equity or warrants on preferential basis. Lakshmi Overseas Industries will consider and approve allotment of equity shares.
India Infradebt Ltd will receive an AAA rating from CRISL later in the day.
Yes Bank could be in focus as the Bombay High Court will hear the bank’s board issue today.
The Indian market will look at building on Thursday’s gains. European markets surged following comments from the Bank of England and the European Central Bank signaled that, unlike the United States, they are in no hurry to unwind stimulus. US markets were closed for Independence Day. Asian indices are up for now but will want to check the US jobs report due later in the day.
Pharma counters could be in action as the Foreign Investment Promotion Board is likely to take up FDI proposals for clearances, including 10 proposals in pharmaceutical sector.
Unilever's open offer aimed at increasing its stake in its Indian arm Hindustan Unilever from 52.48 per cent to up to 75 per cent, closed on Monday. The issue got subscribed almost 66% as investors tendered 320 mn shares in the 487-mn-share open offer. Unilever's stake in HUL will now increase to 67.28% and at Thursday's exchange rate will lead to inflows of $3.19 billion into the country.
Crompton Greaves board approved a buyback of its shares up to a maximum of Rs 125 per share, or up to Rs 265.7 crore, at the higher end. Crompton is offering a premium of over 40% to its existing stock price of Rs 87.3.
Rakesh Jhunjhunwala on Tuesday picked up nearly 4% stake in BPO service provider Firstsource Solutions for an estimated Rs 25 crore from private sector lender ICICI Bank and others. The stock hit the upper ceiling for the day.
AGMs today include Havells India, Mount Everest Mineral Water, Sobha Developers, Shriram Transport Finance Co among others.
Kalindee Rail Nirman (Engineers) will consider raising funds by way of equity or warrants on preferential basis. Lakshmi Overseas Industries will consider and approve allotment of equity shares.
India Infradebt Ltd will receive an AAA rating from CRISL later in the day.
Yes Bank could be in focus as the Bombay High Court will hear the bank’s board issue today.
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