The indices are set to open on a positive note. The Indian stock market which saw some profit booking on Monday is likely to tread cautiously ahead of RBI policy review meet later today. RBI may choose to play it safe, owing to a northward headline CPI reading during April this year.
“Thoughtless risks are destructive, of course, but perhaps even more wasteful is thoughtless caution which prompts inaction and promotes failure to seize opportunity” - Gary Ryan Blair
A dismal jobs data has changed investors’ calculi in the US but Federal Reserve Chair Janet Yellen preferred not to attach too much significance to any single monthly report. Yellen's speech avoided any hints at when a rate hike could be effected. Most experts feel that Fed could err on the side of caution over the next few months, citing the need for more labor and economic data before playing its next card.
The indices are set to open on a positive note. The Indian stock market which saw some profit booking on Monday is likely to tread cautiously ahead of RBI policy review meet later today. RBI may choose to play it safe, owing to a northward headline CPI reading during April this year. On the global front, an impending Brexit vote on June 23rd has cast a cloud of uncertainty globally and markets would closely watch how that situation plays out later this month.
The Dow Jones closed up 113.27 points, or 0.64%, while the S&P 500 gained 10.28 points, or 0.49%, its highest close in seven months. The Nasdaq Composite added 26.20 points, or 0.53%.
Asian markets are trading higher. Nikkei 225 and Hang Seng up.
Brent futures hit a seven-month high of $50.83 per barrel on Monday before easing a tad to $50.44 in early Tuesday.
On the economy front, Power minister Goyal to address the inaugural session at National Workshop on Roof Top Solar Power.
Road transport & highways minister Gadkari to address the launch of the third edition of TCI-IIM Study of Operational Efficiency of Freight Transportation by Road in India in New Delhi.
Among other stocks to watch:
Vedanta: The company will invest $500 million (nearly Rs 3,350 crore) in its zinc business, according to reports.
ICICI Bank: The bank is planning to raise Rs.25,000 crore in tranches by way of various instruments including bonds.
Crompton Greaves: The company said its shareholders have approved raising up to Rs.700 crore through the issuance of non-convertible debentures (NCDs) on private placement basis.
Kotak Mahindra Bank: The bank expects about 20% growth in credit during the current fiscal, a senior executive said today.
Nestle: Nestle has enters into partnership with China’s e-commerce giant Alibaba to boost its online sales, according to reports.
NTPC: NTPC reportedly said it is planning to raise around Rs. 20,000 crore in this fiscal.Out Of Rs. 20,000 crore, Rs. 6,000 crore would be raised from the overseas bond market and the remaining Rs. 14,000 crore from domestic market, says report.
Larsen & Toubro: L&T said its construction arm has won orders worth Rs.2,161 crore across various business segments.
Tata Steel: Tata Steel inaugurated ‘High Wall Mining’, a unique initiative in India.TV Narendran, MD, Tata Steel, India and SEA inaugurated the High Wall Mining at South Eastern Quarry.
Lupin: Drug major Lupin has received final approval from the US health regulator to market Voriconazole tablets, used for the treatment of fungal infections, in the American market.
Cairn: British explorer Cairn Energy's arbitration against a Rs.29,047 crore retrospective tax demand has begun with the adjudicating panel fixing timelines so as to complete the arbitration in less than 12 months.
Lux Industries: Lux Industries announced a stock split to be effective, of the face value of 10 each into 2 each per equity share in a 5-for-1 stock split, in compliance with applicable provisions of the Companies Act, and other applicable provisions.
Canara Bank: The bank has received CARBON OFFSET CERTIFICATE from M/s. Micro Energy Credits, USA for offsetting 305.27 Tonnes of CO2 Emissions and for designing & implementing a successful clean energy financing program.
Mahindra & Mahindra Financial Services Ltd: The company has raised Rs.10,00,00,00,000 (Rupees One Thousand Crores) through public issue of NCDs.
NBCC: The company has secured businesses worth Rs.19 billion in May.
Global Data: AUD Index (Apr)RBA Interest Rate Decision, AUD RBA Rate Statement REPORT,JPY Leading Economic Index (Apr),JPY Coincident ,EUR Industrial Production n.s.a. w.d.a. (YoY) (Apr), EUR Industrial Production s.a. (MoM) (Apr), EUR Imports, EUR (Apr),EUR Trade Balance EUR (Apr), EUR Exports, EUR (Apr),EUR Current Account (Apr),EUR Budget (Apr),CNY Foreign Exchange Reserves (MoM) (May),EUR Industrial Output Cal Adjusted (YoY) (Apr),CHF Foreign Currency Reserves (May), GBP Halifax House Prices (3m/YoY) (May),GBP Halifax House Prices (MoM) (May), EUR House Price Index (QoQ) (Q1),EUR Gross Domestic Product s.a. (YoY) (Q1),EUR Gross Domestic Product s.a. (QoQ) (Q1), USD Nonfarm Productivity (Q1),USD Unit Labor Costs (Q1),USD Redbook index (YoY) (Jun 3), USD Redbook index (MoM) (Jun 3) ,USD IBD/TIPP Economic Optimism (MoM) (Jun), CAD Ivey Purchasing Managers Index s.a (May),CAD Ivey Purchasing Managers Index (May),USD 4-Week Bill Auction,USD 3-Year Note Auction, USD Consumer Credit Change (Apr),USD API Weekly Crude Oil Stock,NZD Manufacturing sales (Q1), JPY Bank lending (YoY) (May),JPY Gross Domestic Product (QoQ) (Q1),JPY Gross Domestic Product Annualized (Q1), JPY Gross Domestic Product Deflator (YoY) (Q1),JPY Trade Balance - BOP Basis (Apr)
Trends in FII flows: The FIIs were net buyers of Rs.28.3 mn in the cash segment on Monday. The DIIs were net buyers of Rs.2.30 bn as per the provisional figures released by the NSE.
Other news in the media:
Larsen & Toubro (L&T) said its construction arm has won orders worth Rs21.61bn across various business segments.
M3M India has raised Rs12.50bn from Indiabulls Housing Finance and used Rs7bn of this money to pay the final installment to Sahara group, concluding a deal to acquire 185 acres of land in Gurgaon for Rs12.11bn.
Nestle has struck a partnership with China's e-commerce giant Alibaba to boost its online sales by tapping the country's increasingly digital consumption patterns.
Lupin has received final approval from the US health regulator to market Voriconazole tablets, used for the treatment of fungal infections, in the American market.
NTPC said that the company will add 4,500MW of capacity in 2016-17, more than double that of the 2,200MW it added in 2015-16.
Sumitomo Chemical has entered into an agreement to acquire 45% in Excel Crop Care from its promoters and certain public shareholders including Ratnabali Group and Aditya Goenka for Rs6.23bn.
Larsen & Toubro (L&T) has secured a contract to build a USD135mn stadium for Qatar's 2022 World Cup, a boost for the Indian firm facing a slowdown in its key West Asia market due to low oil prices.
Lux Industries has announced a stock split of the face value of Rs10 each into Rs2 each per equity share in a 5-for-1 stock split.
Crompton Greaves Consumer Electricals (CGCEL) said its shareholders have approved raising up to Rs7bn through the issuance of non-convertible debentures (NCDs) on private placement basis.
National Buildings Construction Corporation (NBCC) said it has secured businesses worth Rs19bn in May.
Dilip Shanghvi, the promoter of Sun Pharmaceutical Inds, is set to expand his oil & natural gas business.
HDIL is in the final leg of talks to sell two land parcels outside Mumbai that could garner around Rs7.50bn.
The companies whose drugs are included for price fixation include Abbott Healthcare, Cipla, Lupin, Alembic, Alkem Laboratories, Novartis, Biocon, Intas Pharmaceuticals, Hetero Healthcare and Ranbaxy (now Sun Pharmaceutical Industries), according to notifications by the National Pharmaceutical Pricing Authority (NPPA).
Vedanta Resources will invest USD500mn (nearly Rs33.50bn) in its zinc business, which is about half of its total capital expenditure for the current financial year 2016-17.
ICICI Bank, is planning to raise Rs250bn by private placement of bonds, debentures securities including bonds and non-convertible debentures (NCDs).
The Union Ministry of New and Renewable Energy (MNRE) has set the highest ever capacity addition target 16,660MW for the clean power sector this fiscal.
The government is mulling Indradhanush-II, expanding the scope of banking reforms to get rid of bad loans, manage risks better, bring millions of un-banked and under-banked people into the fold as well as create a holding company for the public sector banks (PSBs).
A dismal jobs data has changed investors’ calculi in the US but Federal Reserve Chair Janet Yellen preferred not to attach too much significance to any single monthly report. Yellen's speech avoided any hints at when a rate hike could be effected. Most experts feel that Fed could err on the side of caution over the next few months, citing the need for more labor and economic data before playing its next card.
The indices are set to open on a positive note. The Indian stock market which saw some profit booking on Monday is likely to tread cautiously ahead of RBI policy review meet later today. RBI may choose to play it safe, owing to a northward headline CPI reading during April this year. On the global front, an impending Brexit vote on June 23rd has cast a cloud of uncertainty globally and markets would closely watch how that situation plays out later this month.
The Dow Jones closed up 113.27 points, or 0.64%, while the S&P 500 gained 10.28 points, or 0.49%, its highest close in seven months. The Nasdaq Composite added 26.20 points, or 0.53%.
Asian markets are trading higher. Nikkei 225 and Hang Seng up.
Brent futures hit a seven-month high of $50.83 per barrel on Monday before easing a tad to $50.44 in early Tuesday.
On the economy front, Power minister Goyal to address the inaugural session at National Workshop on Roof Top Solar Power.
Road transport & highways minister Gadkari to address the launch of the third edition of TCI-IIM Study of Operational Efficiency of Freight Transportation by Road in India in New Delhi.
Among other stocks to watch:
Vedanta: The company will invest $500 million (nearly Rs 3,350 crore) in its zinc business, according to reports.
ICICI Bank: The bank is planning to raise Rs.25,000 crore in tranches by way of various instruments including bonds.
Crompton Greaves: The company said its shareholders have approved raising up to Rs.700 crore through the issuance of non-convertible debentures (NCDs) on private placement basis.
Kotak Mahindra Bank: The bank expects about 20% growth in credit during the current fiscal, a senior executive said today.
Nestle: Nestle has enters into partnership with China’s e-commerce giant Alibaba to boost its online sales, according to reports.
NTPC: NTPC reportedly said it is planning to raise around Rs. 20,000 crore in this fiscal.Out Of Rs. 20,000 crore, Rs. 6,000 crore would be raised from the overseas bond market and the remaining Rs. 14,000 crore from domestic market, says report.
Larsen & Toubro: L&T said its construction arm has won orders worth Rs.2,161 crore across various business segments.
Tata Steel: Tata Steel inaugurated ‘High Wall Mining’, a unique initiative in India.TV Narendran, MD, Tata Steel, India and SEA inaugurated the High Wall Mining at South Eastern Quarry.
Lupin: Drug major Lupin has received final approval from the US health regulator to market Voriconazole tablets, used for the treatment of fungal infections, in the American market.
Cairn: British explorer Cairn Energy's arbitration against a Rs.29,047 crore retrospective tax demand has begun with the adjudicating panel fixing timelines so as to complete the arbitration in less than 12 months.
Lux Industries: Lux Industries announced a stock split to be effective, of the face value of 10 each into 2 each per equity share in a 5-for-1 stock split, in compliance with applicable provisions of the Companies Act, and other applicable provisions.
Canara Bank: The bank has received CARBON OFFSET CERTIFICATE from M/s. Micro Energy Credits, USA for offsetting 305.27 Tonnes of CO2 Emissions and for designing & implementing a successful clean energy financing program.
Mahindra & Mahindra Financial Services Ltd: The company has raised Rs.10,00,00,00,000 (Rupees One Thousand Crores) through public issue of NCDs.
NBCC: The company has secured businesses worth Rs.19 billion in May.
Global Data: AUD Index (Apr)RBA Interest Rate Decision, AUD RBA Rate Statement REPORT,JPY Leading Economic Index (Apr),JPY Coincident ,EUR Industrial Production n.s.a. w.d.a. (YoY) (Apr), EUR Industrial Production s.a. (MoM) (Apr), EUR Imports, EUR (Apr),EUR Trade Balance EUR (Apr), EUR Exports, EUR (Apr),EUR Current Account (Apr),EUR Budget (Apr),CNY Foreign Exchange Reserves (MoM) (May),EUR Industrial Output Cal Adjusted (YoY) (Apr),CHF Foreign Currency Reserves (May), GBP Halifax House Prices (3m/YoY) (May),GBP Halifax House Prices (MoM) (May), EUR House Price Index (QoQ) (Q1),EUR Gross Domestic Product s.a. (YoY) (Q1),EUR Gross Domestic Product s.a. (QoQ) (Q1), USD Nonfarm Productivity (Q1),USD Unit Labor Costs (Q1),USD Redbook index (YoY) (Jun 3), USD Redbook index (MoM) (Jun 3) ,USD IBD/TIPP Economic Optimism (MoM) (Jun), CAD Ivey Purchasing Managers Index s.a (May),CAD Ivey Purchasing Managers Index (May),USD 4-Week Bill Auction,USD 3-Year Note Auction, USD Consumer Credit Change (Apr),USD API Weekly Crude Oil Stock,NZD Manufacturing sales (Q1), JPY Bank lending (YoY) (May),JPY Gross Domestic Product (QoQ) (Q1),JPY Gross Domestic Product Annualized (Q1), JPY Gross Domestic Product Deflator (YoY) (Q1),JPY Trade Balance - BOP Basis (Apr)
Trends in FII flows: The FIIs were net buyers of Rs.28.3 mn in the cash segment on Monday. The DIIs were net buyers of Rs.2.30 bn as per the provisional figures released by the NSE.
Other news in the media:
Larsen & Toubro (L&T) said its construction arm has won orders worth Rs21.61bn across various business segments.
M3M India has raised Rs12.50bn from Indiabulls Housing Finance and used Rs7bn of this money to pay the final installment to Sahara group, concluding a deal to acquire 185 acres of land in Gurgaon for Rs12.11bn.
Nestle has struck a partnership with China's e-commerce giant Alibaba to boost its online sales by tapping the country's increasingly digital consumption patterns.
Lupin has received final approval from the US health regulator to market Voriconazole tablets, used for the treatment of fungal infections, in the American market.
NTPC said that the company will add 4,500MW of capacity in 2016-17, more than double that of the 2,200MW it added in 2015-16.
Sumitomo Chemical has entered into an agreement to acquire 45% in Excel Crop Care from its promoters and certain public shareholders including Ratnabali Group and Aditya Goenka for Rs6.23bn.
Larsen & Toubro (L&T) has secured a contract to build a USD135mn stadium for Qatar's 2022 World Cup, a boost for the Indian firm facing a slowdown in its key West Asia market due to low oil prices.
Lux Industries has announced a stock split of the face value of Rs10 each into Rs2 each per equity share in a 5-for-1 stock split.
Crompton Greaves Consumer Electricals (CGCEL) said its shareholders have approved raising up to Rs7bn through the issuance of non-convertible debentures (NCDs) on private placement basis.
National Buildings Construction Corporation (NBCC) said it has secured businesses worth Rs19bn in May.
Dilip Shanghvi, the promoter of Sun Pharmaceutical Inds, is set to expand his oil & natural gas business.
HDIL is in the final leg of talks to sell two land parcels outside Mumbai that could garner around Rs7.50bn.
The companies whose drugs are included for price fixation include Abbott Healthcare, Cipla, Lupin, Alembic, Alkem Laboratories, Novartis, Biocon, Intas Pharmaceuticals, Hetero Healthcare and Ranbaxy (now Sun Pharmaceutical Industries), according to notifications by the National Pharmaceutical Pricing Authority (NPPA).
Vedanta Resources will invest USD500mn (nearly Rs33.50bn) in its zinc business, which is about half of its total capital expenditure for the current financial year 2016-17.
ICICI Bank, is planning to raise Rs250bn by private placement of bonds, debentures securities including bonds and non-convertible debentures (NCDs).
The Union Ministry of New and Renewable Energy (MNRE) has set the highest ever capacity addition target 16,660MW for the clean power sector this fiscal.
The government is mulling Indradhanush-II, expanding the scope of banking reforms to get rid of bad loans, manage risks better, bring millions of un-banked and under-banked people into the fold as well as create a holding company for the public sector banks (PSBs).
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