Indices to open flat

The main indices could see some green at start but the Nifty is struggling to cross the 8300 mark. The action is likely to shift to a host of side counters in the mid-cap and small cap space which have seen a sell-off in recent weeks. 

The Circumstances refuse to really change in the market as the main indices flattened to deceive the bears this time and closed with minimal losses on Thursday. Concerns over a delay in passage of reform-centric legislative proposals have kept the investors on the backfoot. The FM has expressed disappointment over the delay in passing the legislation on GST, stating that the Congress' stand was "disappointing for the country."

Meanwhile, foreign brokerages too have mixed opinion on where the Indian market is headed. While those with a bullish view on the country said stock valuations have become attractive after the recent fall, the pessimists are worried about foreign investors' heavy exposure to local stocks, says a report. On the macro front, the annual rate of inflation, based on monthly WPI, remained in negative zone and stood at -2.65% (provisional) for the month of April, 2015. 

The outlook is a flat start. Tata Steel could crash on reports that it will take a $785 mln non-cash writedown in Q4. The main indices could see some green at start but the Nifty is struggling to cross the 8300 mark. The action is likely to shift to a host of side counters in the mid-cap and small cap space which have seen a sell-off in recent weeks. Global cues are mildly positive for now. 

The Dow rose 1.06%, Nasdaq added 1.39% and S&P 500 was up 1.08%. Asian markets are also in the green with Japan's Nikkei, Hong Kong's Hang Seng index and China's Shanghai clocking some gains.

Motherson Sumi Systems could be in action as it is doing a due diligence on three auto component makers in Europe for possible acquisitions, its chairman Vivek Chand Sehgal was quoted as saying.

RBI Governor Raghuram Rajan stated that the Board Discussed Legislative Changes needed to take Financial Sector forward. The board suggested of having IT subsidiaries to look after Cyber Security, added Rajan.

Nitesh Estates stock has hit 10% upper circuit at Rs 16.01.The stock has hit a high of Rs. 16.01 and a low of Rs. 14.50.The company announced that conclusion of partnership platform agreement signing (MOU) with Goldman Sachs, a leading global financial institution to jointly invest / acquire income producing office buildings, Shopping Malls and Luxury Hotels across India.Under this platform arrangement Goldman Sachs will make Investments through Nitesh Estates SPVs, Associates, Subsidiaries, JVs etc., as the case may be asset class wise.

MAN Industries zoomed over 14.5 percent to Rs. 69.40 on receiving orders worth Rs. 510 crore from international market for oil & gas sector.

Pennar Industries soared 7% to Rs. 50.90 on reporting more than two-fold jump in Q4 net profit on year-on-year basis. The company recorded a net profit of Rs. 16.02 crore for Q4FY15, when compared with Rs. 7.42 crore for Q4FY14. 

Lycos Internet jumped nearly 5% to Rs. 34.35 on launching suite of products that connects people to their digital world called Lycos Life. 

Aditya Birla Chemicals (AB Chemicals) was up nearly 2 percent at Rs. 216 on the back of multi-fold jump in profit. The company reported a net profit of Rs. 8.6 crore for Q4FY15, as against Rs. 74 lakh for Q4FY14.

Pantaloons Fashion & Retail slipped 2.2% to Rs. 165 after the company reported Q4 results.The company reported a net loss of Rs. 63.78 crore for Q4FY15, as against a net loss of Rs. 70.75 crore for Q4FY14.

D B Corp turned volatile after the company reported almost 17 percent drop in consolidated Q4 net profit at Rs. 63.9 crore when compared with Rs. 75.9 crore on year-on-year basis. The stock shed almost 5.5 percent in intra-day deals, but eventually ended over a percent higher at Rs. 367.

Indian Bank rallied 6.5% to a high of Rs. 165 after the bank's gross NPAs declined to 4.4% for the March quarter when compared with 4.52 percent in the December quarter. The stock however ended 2% higher at Rs. 157.

Aditya Birla Nuvo rebounded into the positive zone and ended 1.5% higher at Rs. 1,857 after the company reported 88 percent jump in Q4 consolidated net at Rs. 331.63 crore when compared with Rs. 176.13 crore in the corresponding quarter a year ago. 

Lupin slipped over 3% to Rs. 1,636 after the company acquired Brazilian drug maker Medquímica Indústria Farmacêutica SA. The value of the deal was not disclosed. 

Oriental Bank of Commerce (OBC) surged 11% to Rs. 215 on the back of asset quality improvement. The bank's gross and net non-performing assets (NPA) ratios improved to 5.18 percent and 3.34 percent, respectively, at the end of March 2015 quarter on sequential basis.

Arvind Ltd has announced that the Hon’ble High Court of Gujarat has sanctioned the Composite Scheme of Arrangement in the nature of demerger and transfer of Real Estate Undertaking of Arvind Limited to Arvind Infrastructure Limited. 

Nectar Lifesciences Limited (NecLife), the fast-growing manufacturer of generic pharmaceutical active pharmaceutical ingredients (APIs) and formulation products has received ANVISA cGMP approval for Brazil for its Cephalosporin APIs’ manufacturing facility in Dera Bassi, Punjab. The regulatory authority concluded that the facility, systems and practices comply with ANVISA cGMP requirements.

Indian Hume Pipe Company Limited has signed a Memorandum of Understanding with Sobha Ltd., a developer of repute having pan India operations, for the development of Company's Industrial land at Badarpur, New Delhi, admeasuring about 27,504.78 sq. mtrs. equivalent to 2,96,062 sq. ft. for Group Housing Residential project as per applicable laws (the said Land).