Some buying activity is seen in capital goods, auto, power, IT and teck sectors, while pharma, banking, fmcg and oil & gas sectors are showing weakness on BSE. The BSE Mid-cap Index is trading up 0.03% at 11,084, whereas BSE Small-cap Index is trading down 0.10% at 11,425.
The BSE Mid-cap Index is trading up 0.03% at 11,084, whereas BSE Small-cap Index is trading down 0.10% at 11,425.
Some buying activity is seen in capital goods, auto, power, IT and teck sectors, while pharma, banking, fmcg and oil & gas sectors are showing weakness on BSE.
Maruti Suzuki, GAIL, Coal India, L&T, BHEL, RIL, Bharti Airtel, M&M and NTPC are among the gainers, whereas HDFC, Lupin, ONGC, Vedanta, Axis Bank, ITC, Hero MotoCorp, Cipla and HUL are losing sheen on BSE.
Indian Rupee today opened at 64.97/$ in early trade on Tuesday. On the global, Global markets are not offering any encouraging cues. In fact most of them are in the red. US stocks fell after new home sales came in less than expected. In international markets, market participants will prefer to remain on the sidelines ahead of US FOMC policy meeting statement tomorrow. Markets will also keep an eye on US advance Q3 GDP readings.
Global markets are not offering any encouraging cues. In fact most of them are in the red. US stocks fell after new home sales came in less than expected. Maruti, Axis Bank and Lupin results will be in focus. Product mix is expected to have a big impact on the realizations for companies like Maruti. For Maruti, while contribution of compact segment declined, contribution of Midsize (Ciaz) and Vans UV (launch of S-Cross) segment saw an increase. This would translate into better realizations for Maruti.
The Finance Ministry is not looking to cut expenditure to show better-than-expected numbers in the current fiscal year despite mounting fiscal pressure. “The fiscal deficit target of 3.9 per cent of GDP for FY16 will be met. But instead of trying to improve this by lowering the deficit further, the main objective this year will be to ensure that there are no expenditure cuts,” a senior government official has been quoted as saying.
Nestle India on Monday said that it has resumed production of Maggi at three facilities and will launch the popular instant noodles after getting clearances from food testing laboratories. The Indian arm of the Swiss food giant will send first samples of the fresh Maggi batches to three accredited labs for tests. This is in compliance with the order of Bombay High Court.
InterGlobe Aviation Ltd., the parent company of IndiGo, on Monday raised INR 832 crore from anchor investors, including domestic and foreign institutions, a day before the start of its initial public offering (IPO). The company sold shares in the anchor book at INR 765 apiece, the upper end of the INR 700-765 IPO price band.
TVS Logistics Services Ltd. (TVSL), a subsidiary of Chennai-based TV Sundaram Iyengar & Sons Ltd., is reportedly planning to go public by 2016. The company has met about 5-6 investment bankers and started talks over a possible initial public offering (IPO), according to a financial daily.
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