The BSE Mid-cap Index and BSE Small-cap Index was trading up at 1%.
Auto, Consumer Durables, Power, banking, capital goods, FMCG, healthcare metal, realty, Oil and gas indices are the gainers, while Teck and IT indices are losers.
GAIL, BHEL, COALINDIA,SUNPHARMA,TATASTEEL, Reliance, Hindalco are among the gainers, whereas HDFC Bank, Infosys, Axis Bank, HUL are losing sheen on BSE.
The much awaited Union budget will be on a Saturday this time (Feb 28). The Budget session will begin on February 23 with the traditional Presidential Address to both the houses of Parliament. The Railway Budget will be presented on February 26 followed by the tabling of the Economic Survey on February 27.
The US stock market ended with slight gains. Asian markets are mixed. Japan's Nikkei is lower while Hong Kong's Hang Seng index is higher. China's Shanghai index is marginally up.
Bank of Baroda and Corporation Bank will see stock-splits today.
Poddar Developers, which has presence in the affordable housing segment in Mumbai, raised Rs. 125 crore through stake sale. Not many real estate companies have managed this.
The Coal Ministry kicked off the process of re-allotting mines, starting with central and state public sector units on Wednesday. Coal Secretary Anil Swarup said all the 36 blocks earmarked for allotment will be offered for PSUs to cherry-pick from in a single phase. The Centre proposes to complete the whole process by February 20. Priority will be given to PSUs with units close to the mines, Swarup added, a report stated.
Finance Minister Arun Jaitley’s full-fledged Budget is likely to propose a fresh round of indirect tax reforms by removing existing anomalies such as the inverted duty structure. This is being done to boost Prime Minister Narendra Modi’s ‘Make in India’ programme. Power generation machines, telecom equipment, and petroleum products are among the categories affected by the inverted duty structure, according to a report.
Indian officials will brief their US counterparts on steps taken to promote manufacturing under the ‘Make in India’ campaign and improve ease of doing business, in a meeting in New Delhi today.
SEBI will come out with fresh norms for algo trading shortly, according to UK Sinha, Chairman, SEBI said. Meanwhile, SEBI is expected to discuss changes to norms governing issuance of partly paid shares and warrants as well as amendments to regulations for securitisation trustees, according to a report. Besides, the board is likely to take up amendments to certain regulations related to listing of debt securities, the report added.
The Finance Ministry has initiated the process of disinvesting 10 per cent stake in Hyderabad-based mining company NMDC.
Standard & Poor's Ratings Services believes political developments in a few Asia-Pacific sovereigns could become important factors in shaping credit trends in the next few years, said a report published today, titled "Asia-Pacific Sovereign Rating Trends,
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