Asian indices are mixed. China's CIS300 is down nearly 3%. China has weakened the Yuan fix by 0.2%, the most since January 7th. Nikkei is half a percent higher. Hong Kong's Hang Seng is down a percent while South Korea's Kospi is marginally lower.
After a week of decline, Monday morning has nothing positive to offer given the subdued global sentiment. Yes, all eyes will be on the Union Budget which Finance Minister Arun Jaitley will present around 11 am. Corporate tax reduction, increasing service tax rate, some steps towards GST implementation, capital support for PSU banks and divestment of government stakes in PSUs along with some reforms are among the broad expectations.
The outlook is a weak start. The run-up to the budget has been one of the worst for the market with the indices seeing one of its worst fall from calendar year to Budget date. Can Arun Jaitley turn the tide remains to be seen today. Nifty staged a smart comeback ahead of budget on Friday. Nifty needs to surpass the 7090 mark on closing basis beyond which we see Nifty making a dash towards the 7240 resistance mark.”
Asian indices are mixed. China's CIS300 is down nearly 3%. China has weakened the Yuan fix by 0.2%, the most since January 7th. Nikkei is half a percent higher. Hong Kong's Hang Seng is down a percent while South Korea's Kospi is marginally lower.
UltraTech Cement will acquire Jaiprakash Associates' cement factories in six states for an enterprise value of Rs. 16,500 crore, among the biggest distress sales of assets as India's banks get proactive on bad loans.
SBI has received shareholders approval to raise up to Rs. 15,000 crore by public issue or overseas issuance of shares.
HPL Electric & Power Ltd., which manufactures electrical equipment, filed its draft initial public offering (IPO) papers with capital markets regulator SEBI on Friday.
Hindustan Unilever Ltd. announced certain changes in its management structure.Samir Singh, currently Vice-President & ED, Personal Care, will be taking over as the global Executive Vice-President, Skin Cleansing at Unilever.Sandeep Kohli will succeed Singh as Vice-President & ED, Personal Care. Kohli is currently Vice-President, Myanmar, Cambodia and Laos.
The net worth of Berkshire Hathaway Inc. increased by US$15.4 billion in 2015, Chairman and CEO Warren Buffett said on Saturday in his annual letter to shareholders.
Reliance Communications is planning to combine its wireless business with Aircel and both parent companies will hold 50% each, according to reports. Report says that the two companies scrapped an initial plan to form a new listed company to run their combined wireless businesses.
Anil Agarwal-promoted Vedanta has bagged the prospective-cum-mining licence to mine gold from Baghmara lease in Chhattisgarh, reports a business daily.
Ringing Bells, which has promised to sell smartphones for Rs 251 has started refunding money to customers due to negative speculation around its claim, according to reports.
Jet Airways has decided to consolidate its existing position by maximising aircraft utilisation instead of adding more new planes, reports a financial newspaper.
The outlook is a weak start. The run-up to the budget has been one of the worst for the market with the indices seeing one of its worst fall from calendar year to Budget date. Can Arun Jaitley turn the tide remains to be seen today. Nifty staged a smart comeback ahead of budget on Friday. Nifty needs to surpass the 7090 mark on closing basis beyond which we see Nifty making a dash towards the 7240 resistance mark.”
Asian indices are mixed. China's CIS300 is down nearly 3%. China has weakened the Yuan fix by 0.2%, the most since January 7th. Nikkei is half a percent higher. Hong Kong's Hang Seng is down a percent while South Korea's Kospi is marginally lower.
UltraTech Cement will acquire Jaiprakash Associates' cement factories in six states for an enterprise value of Rs. 16,500 crore, among the biggest distress sales of assets as India's banks get proactive on bad loans.
SBI has received shareholders approval to raise up to Rs. 15,000 crore by public issue or overseas issuance of shares.
HPL Electric & Power Ltd., which manufactures electrical equipment, filed its draft initial public offering (IPO) papers with capital markets regulator SEBI on Friday.
Hindustan Unilever Ltd. announced certain changes in its management structure.Samir Singh, currently Vice-President & ED, Personal Care, will be taking over as the global Executive Vice-President, Skin Cleansing at Unilever.Sandeep Kohli will succeed Singh as Vice-President & ED, Personal Care. Kohli is currently Vice-President, Myanmar, Cambodia and Laos.
The net worth of Berkshire Hathaway Inc. increased by US$15.4 billion in 2015, Chairman and CEO Warren Buffett said on Saturday in his annual letter to shareholders.
Reliance Communications is planning to combine its wireless business with Aircel and both parent companies will hold 50% each, according to reports. Report says that the two companies scrapped an initial plan to form a new listed company to run their combined wireless businesses.
Anil Agarwal-promoted Vedanta has bagged the prospective-cum-mining licence to mine gold from Baghmara lease in Chhattisgarh, reports a business daily.
Ringing Bells, which has promised to sell smartphones for Rs 251 has started refunding money to customers due to negative speculation around its claim, according to reports.
Jet Airways has decided to consolidate its existing position by maximising aircraft utilisation instead of adding more new planes, reports a financial newspaper.
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