At 9:25AM, the S&P BSE Sensex is trading at 28,359 up 98 points, while NSE Nifty is trading at 8,585 up 34 points. The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%. Auto, Consumer Durables, Power, banking, capital goods, Oil and gas indices are the gainers, while FMCG indices is only the loser. GAIL, BHEL, COALINDIA,SUNPHARMA,TATASTEEL, Reliance, Hindalco are among the gainers, whereas HDFC Bank, Infosys, Axis Bank, HUL are losing sheen on BSE. The VIX has closed at a 27-week high on anticipation of volatile moves ahead of announcement of euro zone stimulus via bond buying. Cement counters are gaining strength. Ambuja and Ultratech breaking all-time highs, the rally may well continue for a while. US markets were closed. Asian markets are mostly higher. Japan's Nikkei is up over a percent while Hong Kong's Hang Seng has gained half a percent. China's Shanghai index is also up a percent. MRF could be in action on reports that is in advance discussion with Kesoram Industries to acquire its main tyre unit. Punj Lloyd sold its entire 17.74% stake in Global Health Pvt Ltd to an arm of Temasek Holdings. After 23 years, Tata Consultancy Services has overtaken RIL to be the most profitable Indian company. TCS posted a net profit of Rs 5,328 crore for the quarter ended December, overtaking Reliance Industries Ltd’s profit of Rs 5,256 crore, says a report. Finance Minister Arun Jaitley said that there is a need to rationalise all subsidies and ensure stability in policies in order to attract investment and drive growth. The Minister also underline the need for stability in tax and other policies to make India an attractive place for investment. The Telecom Commission approved base price of Rs 3,700 crore for each MHz of 2,100-MHz spectrum to be auctioned on February 25, says report. According to reports, the final reserve price is 36% higher than the Rs 2,720 crore recommended by the Telecom Regulatory Authority of India (Trai). The Union Cabinet is likely to meet this week and will take a final call. Government is considering removing price controls on urea and scrapping an import duty of 5%, according to reports.Report said that Modi's government is planning to decontrol maximum retail price (MRP) of urea which is currently fixed at Rs5,360 ($87) a tonne. Mahanagar Gas Ltd is planning to raise around Rs8 bn ($129.66 million) via IPO in the first quarter of 2015, according to reports. Report said that the company has hired Kotak Mahindra Capital and Citigroup to manage the initial public offering (IPO).The company is expected to file for the IPO with market regulator Securities and Exchange Board of India over the next month, says report. MindTree Ltd has posted a net profit of Rs. 1408 mn for the quarter ended December 31, 2014 as compared to Rs. 888 mn for the quarter ended December 31, 2013.The stock will be in limelight. -
No comments:
Post a Comment