The market may remain choppy on account of earning and economic data, both domestically as well as globally. Rupee could remain higher on expectations of foreign investor inflows in government bonds and stock market
The outlook is a flat start. TCS stock will be in focus as it announces its results. The market may remain choppy on account of earning and economic data, both domestically as well as globally. Rupee could remain higher on expectations of foreign investor inflows in government bonds and stock market. Over the previous 10 trading sessions, IVs across the globe have seen significant reduction as stability returned in the global market (CBOE Volatility index and India VIX are down 37/9% during the same period). Sectors like FMCG, Pharma, Private Banks and IT are showing signs of tiredness at higher levels.
Profit booking was seen in Asian markets which have come lower following a crash in oil prices. US indices ended with minimal gains. Reports that OPEC continues to boost crude production despite a persistent glut fuelled weakness in oil. The Dow was up 0.28%, S&P 500 gained 0.13% and the Nasdaq added 0.17%.
Indian companies have raised Rs.4,950 crore through the initial public offerings (IPO) in the first half of the current fiscal year, according to Prime Database. In the first half of FY15, domestic companies had raised Rs. 1,017 crore through IPOs. What's more, fund-raising through IPO is expected to gain traction going ahead, as more than 30 companies have filed draft papers with market regulator the Securities & Exchange Board of India (SEBI).
Some institutional investors have opted to buy, and more may do so, the recently issued warrants of HDFC, betting that prices of these instruments would rise quicker than ordinary shares of the mortgage lender, says a report in ET.
RBI will today hold auction of Rs.156.37 bn of bonds issued by 14 states. For the first time in a year, the Reserve Bank of India (RBI) turned net sellers of foreign currency in August to help arrest the slide in the rupee against leading world currencies. According to the latest data, the RBI turned net sellers of foreign currency at US$1,559 million compared with net buying of US$169 million in July.
The Indian Railways plans to commission 6.85 km of tracks per day in the current fiscal year, up from 5.4 km a day in the last fiscal year. Overall, it will commission 2,500 km of tracks in FY16 against 1,980 km in FY15.
“Our consumption this year is expected to be 13 lakh tonnes of steel, 30 lakh tonnes of cement, 40,000 km of signaling cable and 7,000 tonnes of copper wire. This will be through a mix of direct and indirect demand. This is an assured demand,” V.K. Gupta, Member-Mechanical, Indian Railways has been quoted as saying.
The CBI is reportedly likely to register more FIRs into alleged loan defaults by Kingfisher Airlines, which is said to have diverted ~US$200 million to "tax havens". The Government agency is likely to register more FIRs to cover the additional INR 3100 crore loans taken by Kingsifher Airlines from 10 other nationalised banks on which it has allegedly defaulted, according to reports.
Piramal Fund Management Pvt. Ltd., the investment arm of the Piramal Group, is set to launch a new financing scheme to invest about INR 500 crore in plotted real estate projects, Managing Director Khushru Jijina has been quoted as saying.
The auction of investment limit in government securities for Foreign Portfolio Investors (FPI) saw aggressive bidding yet again on Monday. Foreign investors bid INR 172.66bn (US$2.67 billion), more than three times the INR 54.68bn in government debt limits on offer at an auction, according to media reports.
The Indian banks would require more than INR 5 lakh-crore capital to meet the global Basel III banking norms by March 2019, Assocham-NIBM study showed on Monday. "Given the credit growth expected in the short-to-medium term, the capital requirement of Indian banks would cross a huge level of INR 5 lakh crore while meeting the globally mandatory Basel III banking norms by March 31, 2019," according to the joint study titled 'Basel III standards: Concepts, Issues & Challenges'.
Bharat Heavy Electricals Limited (BHEL) has once again demonstrated its project execution prowess with the commissioning of 2,730 MW of utility power projects in the first half of the current financial year (2015-16).
Surana Telecom and Power Limited has announced that the Board of Directors of the Company at their Meeting held on October 12, 2015, interalia has finalised and approved the proposal for demerger of Solar Business of Bhagyanagar India Limited and merge with the Company in terms of the Scheme of Arrangement pursuant to the provisions of the Companies Act, 1956 / 2013.
Indian Oil Corporation is planning to invest about $5 bn (nearly Rs 32,500 crore) to expand its exploration and production business, according to reports. Report says that the company is slated to go into acquisition of new assets that are increasingly becoming available in the wake of a global crude oil crash.
YES BANK has received an approval from the Reserve Bank of India to sponsor a Mutual Fund and to setup a Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Companies shall be set up as wholly owned subsidiaries of YES Bank Limited.
Dell Inc. and EMC Corporation announced they have signed a definitive agreement under which Dell, together with its owners, Michael S. Dell, founder, chairman and chief executive officer of Dell, MSD Partners and Silver Lake, the global leader in technology investing, will acquire EMC Corporation, while maintaining VMware as a publicly-traded company.
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