Indices to open flat

Investors will want to pay more attention to stock-specifics rather than take an overall view on the market. 

Welcome to a truncated week which promises some amount of swing. While many stocks have hit headlines with new highs, there are some 166 stocks in the BSE 500 trading below their January 2008 highs, a report stated.  The IIP data which came in after market showed that industrial production had moved higher to 5%. CPI and WPI inflation data are expected today and tomorrow.

The outlook is a tentative start as investors will want to pay more attention to stock-specifics rather than take an overall view on the market. Global cues are mixed. US indices were mostly higher. Japan's Nikkei 225 is down while Hong Kong's Hang Seng index is trading higher. China's Shanghai index is also up almost a percent.

ACC, TCS, RIL and IndusInd Bank are some of the major companies announcing quarterly numbers this week. We expect Banking sector performance in Q4 FY15 to be a mixed bag with most private banks continuing to report strong growth and earnings while PSU banks reporting another soft quarter market by sustained pressure on margin and asset quality.

Under attack over Land Ordinance, Prime Minister Narendra Modi said the government was instituting a "rational framework" for acquisition of land without causing distress to farmers and other landowners.

Government agencies are reportedly lining up nearly Rs 40,000 crores of bonds in the next few months, but the yields may be lower by as much as a one-and-a-half percentage points, thanks to falling interest rates and rising investor appetite for such bonds. Indian Railways Finance Corporation (IRFC), may obtain the highest allocation of about Rs 15,000-17,000 crore to issue such securities aimed at tapping retail money to meet the country's infrastructure needs, a report stated.

Infosys plans to put in place a new incentive structure to reward its sales superstars in a bid to retain key personnel amid a scramble to win large outsourcing deals and regain industry-level growth rates, a report stated.

Maruti Suzuki aims to again outpace the local market in the new financial year with double-digit sales growth. The local unit of Japan's Suzuki Motor, which sells one in every two cars in the country, has internally set a target of growing 10-11% by selling 1.29 million to 1.30 million vehicles in the local market in the year that began on April 1, people with knowledge of the plan said. It aims to manufacture 1.39 million to 1.44 million units, including for exports, says a report.

Reserve Bank of India Governor Raghuram Rajan signalled the country may be on course to have full convertibility of the currency without mentioning a time frame, according to reports.

India's foreign exchange reserves surged for the third consecutive week. The Reserve Bank of India (RBI)'s foreign exchange reserves hit all-time high of $ 343 billion for the week ending April 3, 

Apollo Global Management LLC sold part its stake in Dish TV, Asia's largest direct-to-home service operator. A report said that Apollo sold 3% of its stake or 32 million shares at an average price of Rs 82.05 for Rs 263 crore.

Fitch Ratings has affirmed the Long-Term Foreign Currency Issuer Default Rating (IDR) on India-based Tata Steel Limited (TSL) at 'BB+'. The agency has also affirmed the 'B+' Long-Term Foreign Currency IDR on TSL's wholly owned subsidiary Tata Steel UK Holdings Limited (TSUKH). The Outlooks are Stable. 

HDFC Ltd has got RBI clearance to raise up to $ 500 mn (about Rs 3,100 crore) as External Commercial Borrowing (ECB) to fund its business growth. 

HDFC Ltd also announced a reduction in its Retail Prime Lending Rate (RPLR) by 20 basis points, with effect from April 13, 2015. This reduction would benefit all customers. The company has received an approval from RBI to raise external commercial borrowing (ECB) of up to USD 500 million. The said approval is valid for a period of 6 months. 

Minister of State (I/C) Petroleum & Natural Gas Dharmendra Pradhan visited Mozambique on April 9-10, 2015. Besides meeting his counterpart the Minister of Mineral Resources & Energy, Pedro Couto, he also met Foreign Minister Mr Baloi and called on Prime Minister Agostino Rosario. Three Indian PSUs (ONGC Videsh, Oil India Ltd & Bharat Petroleum) have already invested in a gas block, Rovuma Area 1 in offshore Mozambique. This is one of the largest investment of India in any single hydrocarbon asset abroad.

NITI completes 100 days on 11th April, 2015. The last three months have been tremendous for the institution: from its inception as a ‘Think Tank’ of the Government – a directional and policy dynamo to taking steps in liaising with States while fostering the spirit of cooperative federalism.