PNB, Cairn keep Sensex, Nifty low; RIL bucks the trend

The INDIA VIX is up by 3.85% at 22.5650. Out of 1,786 stocks traded on the NSE, 1,230 declined,256 advanced and 290 remained unchanged today.

At 12:46 PM, the S&P BSE Sensex is trading at 23,834 down by 187 points, while NSE Nifty is trading at 7,231 down 68 points.

The BSE Mid-cap Index is trading down by 1% at 10,013. whereas BSE Small-cap Index is trading down by 1.24% at 10,296.

Among sectoral indices, the BSE Banking, Auto, Capital Goods and Pharma indices are shed over 1% each.

Infosys, RIL, Apollo Tyre, Jet Airways, HCL Tech and Reliance Infra are among the gainers, whereas Tata Motors, Dr.Reddy's, Adani Ports, ICICI Bank, Axis Bank, Coal India and Tata Steel are losing sheen on BSE.

The INDIA VIX is up by 3.85% at 22.5650. Out of 1,786 stocks traded on the NSE, 1,230 declined,256 advanced and 290 remained unchanged today.

A total of six stocks registered a fresh 52-week high in trades today, while 115 stocks touched a new 52-week low on the NSE.

Indian Rupee opened flat at 67.90/$ in early trade on Wednesday as against the previous close of 67.90/$. Today, the rupee movement will be in focus. On macroeconomic side, Indian economy grew 7.3% during the third quarter of the fiscal year 2015‐16, slower than the upwardly revised reading of 7.7% during the prior quarter. Indian government has projected growth for FY2015‐ 16 at 7.6%, better than the growth rate of 7.2% during the previous fiscal year.

Among results to watch for the day include Cipla, Ambuja Cements, ACC, Alstom T&D, Glaxosmithkline Pharma,  Bata India and Blue Dart Express among others. Following IEA's weak outlook for global oil demand, crude oil prices lost gains of a fortnight as Brent crude dropped below $31 while West Texas Intermediate was below $28 a barrel in New York.  Attention will be on what Janet Yellen says to the House Financial Services Committee later today. Global cues are subdued with Asian markets weak. US stock indices finished flat.

Mounting concerns over banking sector’s health in Europe and Yen’s appreciation against the greenback continued to haunt Asian stock markets. Besides, a subdued trading session at Wall Street and European stock markets overnight added to the misery of Asian stocks.

Meanwhile, crude oil prices were in green, with the WTI crude trading 2% higher at US$ 28.50/bbl and Brent Crude at US$ 31.30/bbl, up 2.34%.

Prestige Estates Projects slipped 6.7% to Rs.159.10 on BSE. The company reported 35% decline in standalone net profit at Rs. 64.85 crore for the quarter ended December.

Punjab National Bank cracked 5.5% to Rs.82.85 on NSE. The Bank posted a net profit of Rs. 510.10 million for the quarter ended December 31, 2015 where as the same was at Rs. 7745.60 mn for the quarter ended December 31, 2014.

Ashiana Housing slumped 10.4% to Rs.134 on BSE. The company reported a fall of 95% in net profit to Rs.0.26 crore for the quarter ended Dec. 31, 2015 as compared to Rs.5.3 crore in the same period last year.


Eros International Media slumped 7.7% to Rs.185.20. The company reported consolidated net profit of Rs.37.77 crore for the quarter ended December 31, 2015, registering decline of 65.46% yoy. The company’s consolidated revenue stood at Rs. 335.38 crore, down 31.66% yoy and 33.58% qoq.

Allahabad Bank tumbled 9.8% to Rs.46 on BSE. The bank reported standalone net loss of Rs. 486.14 crore for the quarter ended December 31, 2015. The bank's Net Interest Income (NII) stood at Rs. 1,416.22 crore, registering decline of 12.65% yoy and 11.87% qoq.The bank has raised capital fund through Private Placement of Basel III compliant Tier 2 Bonds in the nature of Debentures aggregating upto Rs. 500/-crore in one or more tranches during FY 2015-16. 


Deepak Fertilisers & Petrochemicals Corporation Ltd has informed BSE that pursuant to the Order by Ministry of Petroleum & Natural Gas (MOPNG), the supply of domestic gas to the Company's Plant in Raigad, Maharashtra had been stopped by Gas Authority of India Ltd. (GAIL) and Reliance Industries Ltd. (RIL) w.e.f. 6.00 a.m. on May 15, 2014. The Company challenged this decision by filing the Writ Petition W.P.(C) No. 2973 of 2014 before the Hon’ble High Court of Delhi.

The Single Judge of Hon’ble High Court of Delhi vide his Order dated July 07, 2015 disposed of the Writ Petition No. 2973 of 2014 and directed the Government of India to resume the supply of gas to the Company. However, the supply of natural gas was not restored and therefore an appeal was filed before the Division Bench of the High Court of Delhi. The Division Bench of Hon’ble High Court of Delhi vide its Order dated October 19, 2015, reaffirmed the direction of the Learned Single Judge in his Order dated July 07, 2015 to resume supply of natural gas to the Company. The Union Government of India filed a review petition before the Hon’ble High Court of Delhi, seeking review of the Order dated October 19, 2015. The Division Bench of the Hon’ble High Court of Delhi, vide its Order dated February 02, 2016, which has been received on February 09, 2016, dismissed the aforesaid review petition of Union Government of India for the reasons explained in the Order.

Apollo Tyres jumped 4.2% to Rs.140.80 on BSE. The tyre company reported consolidated net profit of Rs. 278.60 crore for the quarter ended December 31, 2015, registering growth of 51.25% yoy.

Jet Airways (India) is currently trading at Rs. 593.5, up by Rs. 16.65 or 2.89% from its previous closing of Rs. 576.85 on the BSE. The company is expected to place another large aircraft order, a top official at aircraft maker Boeing Co. has been quoted as saying by a business daily.

Butterfly Gandhimathi Appliances dropped 14% to Rs.213 on BSE. The company on Tuesday reported 264.14 per cent rise in its net profit figures to Rs. 1.06 crore for the quarter ended December 2015. The company earned 0.29 crore in the corresponding quarter a year ago.

Bank Nifty hits 52-week low; PNB to Nifty loser

Bank Nifty slumped 1.7 percent to 14,622, and PSU Bank index tumbled 2.9 percent to 2,102.

PNB cracked 5.5% to Rs.82.90 on NSE.  The Bank posted a net profit of Rs. 510.10 million for the quarter ended December 31, 2015 where as the same was at Rs. 7745.60 mn for the quarter ended December 31, 2014.

Bank of Baroda, Bank of India, Canara Bank and ICICI Bank are all down over 3.5% respectively.

Allahabad Bank tumbled 10% to Rs.45.95 on NSE. The bank reported standalone net loss of Rs. 486.14 crore for the quarter ended December 31, 2015. The bank's Net Interest Income (NII) stood at Rs. 1,416.22 crore, registering decline of 12.65% yoy and 11.87% qoq.The bank has raised capital fund through Private Placement of Basel III compliant Tier 2 Bonds in the nature of Debentures aggregating upto Rs. 500/-crore in one or more tranches during FY 2015-16. 

Central Bank of India plunged 10% to Rs.55.70. Central Bank of India reported a net loss of Rs.836.62 crore for the quarter ended 31 December compared with a net profit of Rs.138 crore in the year-ago quarter. The state-owned bank’s provisions more than doubled to Rs.1,499 crore from Rs.699 crore a year ago.

Aurobindo Pharma slipped 4% to Rs.713.90 on BSE. The pharmaceutical company reported consolidated net profit of Rs. 534.95 crore for the quarter ended December 31, 2015, registering growth of 39.18% yoy.


A total of 125 stocks touched 52-week low on BSE are Aarya Global Shares and Securities, Aban Offshore, Adani Ports, Adhunik Metaliks, Adlabs, A.F. Enterprises, Accel Frontline, AGC Networks, Allahabad Bank, Alok Industries, Andhra Bank, Aries Agro, Aurionpro, Bombay Burmah, Binani Industries, Birla Corporation, Central Bank Of India, Centum Electronics, Century Textiles & Industries, CESC, Claris Life, Cox&Kings, D B Realty, Den Network, Dena Bank, Dhanlaxmi Bank, DHFL, DLF, Eimco Elecon (India), Everest Inds, Excel Inds Federal Bank, Forbes Co, Great Eastern Shipping, Gujarat Mineral Development Corporation, Godavari, HGS, Inox Wind, Iob, Jindal Saw, JP Associates, Jindal Stainless (Hisar), Just Dial, Kamat Hotel,Karnataka Bank, KCL Infra, Kddl, L&T Finance Holdings, Lux Ind, Mastek, MBL Infra, Merck, Murli Ind, Nestle, Network18, Orchid Pharma, Orient Bank, Panacea Bio, Patel Eng, Phoenix, Pnb, Prestige, Prism Cement, Punjab & Sind Bank, RK Forge Rolta, Rs Software, SBT, Scan Steels, SETCO, Shanti Gear, Sml Isuzu, Snowman, Sona Koyo Steering Systems Speciality Restaurants, SRK, Surana Ind, Suryamark, Syndicate Bank, TCI Finance, Tech Mahindra, UCO Bank, Unitech, Urja Global, Vaibhav Global, Valecha Eng, Wheels, Wockhardt, Zicom.

Today, the Indian stock market has seen biggest sell-off on the back of global weakness.Most of PSU banks have plunged to their 52 week lows on account of growing bad loans which have sharply impacted the profitability of these banks in December quarter. The spike in provisions for bad assets comes in the wake of Reserve Bank Governor Raghuram Rajan's call for a clean-up of bank balance sheets by March 2017.

Central Bank of India plunges 10% after Q3 net loss

The bank reported a net loss of Rs.836.62 crore for the quarter ended 31 December compared with a net profit of Rs.138 crore in the year-ago quarter.

Central Bank of India is currently trading at Rs. 55.45, down by Rs. 6.4 or 10.35% from its previous closing of Rs. 61.85 on the BSE. Central Bank of India reported a net loss of Rs.836.62 crore for the quarter ended 31 December compared with a net profit of Rs.138 crore in the year-ago quarter. The state-owned bank’s provisions more than doubled to Rs.1,499 crore from Rs.699 crore a year ago.

The scrip opened at Rs. 57.8 and has touched a high and low of Rs. 57.8 and Rs. 53.75 respectively. So far 1077317(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 10256.42 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 121 on 24-Feb-2015 and a 52 week low of Rs. 59.1 on 04-Feb-2016. Last one week high and low of the scrip stood at Rs. 62.9 and Rs. 59.1 respectively.

The promoters holding in the company stood at 81.46 % while Institutions and Non-Institutions held 13.68 % and 4.86 % respectively.

The stock is currently trading above its 200 DMA.

Bank Nifty hits 52-week low; PNB top Nifty loser

Bank of Baroda, Bank of India, Canara Bank and ICICI Bank are all down over 3.5% respectively.

Bank Nifty slumped 1.7 percent to 14,622, and PSU Bank index tumbled 2.9 percent to 2,102.

PNB cracked 5.5% to Rs.82.90 on NSE. The Bank posted a net profit of Rs. 510.10 million for the quarter ended December 31, 2015 where as the same was at Rs. 7745.60 mn for the quarter ended December 31, 2014. The scrip opened at Rs. 86.1 and has touched a high and low of Rs. 86.45 and Rs. 82.45 respectively. So far 8281799(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 17250.2 crore.

Bank of Baroda, Bank of India, Canara Bank and ICICI Bank are all down over 3.5% respectively.

Allahabad Bank tumbled 10% to Rs.45.95 on NSE. The bank reported standalone net loss of Rs. 486.14 crore for the quarter ended December 31, 2015. The bank's Net Interest Income (NII) stood at Rs. 1,416.22 crore, registering decline of 12.65% yoy and 11.87% qoq.The bank has raised capital fund through Private Placement of Basel III compliant Tier 2 Bonds in the nature of Debentures aggregating upto Rs. 500/-crore in one or more tranches during FY 2015-16. The scrip opened at Rs. 48.4 and has touched a high and low of Rs. 49.05 and Rs. 45.4 respectively. So far 8068506(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 3062.86 crore.

Fear Factor! Asian stocks extend losses; Nikkei 3% down

The appreciating Yen against US dollar took a toll on Japanese stocks with Nikkei 225 Index is currently trading 3.49% down at 15,543.17 points.

Mounting concerns over banking sector’s health in Europe and Yen’s appreciation against the greenback continued to haunt Asian stock markets. Besides, a subdued trading session at Wall Street and European stock markets overnight added to the misery of Asian stocks.

The appreciating Yen against US dollar took a toll on Japanese stocks with Nikkei 225 Index currently trading 3.49% down at 15,543.17 points.

China and Taiwan are shut for the week, while markets in Hong Kong, Singapore, South Korea, Malaysia and Vietnam are closed for the Lunar New Year.

Meanwhile, crude oil prices were in green, with the WTI crude trading 2% higher at US$ 28.50/bbl and Brent Crude at US$ 31.30/bbl, up 2.34%.

Among other notable losers in Asian territory include Australia’s S&P/ASX 200 Index at 4,763.80 points (-1.41%), Thailand’s SET Composite Index at 1,296.63 (-0.57%), Indonesia’s Jakarta Composite at 4,748.96 points (-0.41%) and SGX Nifty at 7,255.50 points (-1.02%).

Meanwhile, in India, the S&P BSE Sensex and Nifty 50 are currently trading 0.85% and 0.78% lower at 23,817.94 points and 7,241.20 points respectively.

On Tuesday, the three major European stock markets had posted substantial loss. The UK’s FTSE 100 Index closed at 5,632.19 points (-1.02%), France’s CAC 40 Index at 3,997.54 points (-1.72%) and Germany’s DAX Index at 8,879.40 points (-1.13%).

In the US, Dow Jones Industrial Average yesterday closed 0.08% lower at 16,014.38 points, NASDAQ Composite Index at 4,268.76 points (-0.35%) and S&P 500 Index at 1,852.21 points (-0.07%).

Punjab National Bank cracks 5.5% after Q3 results disappoint

The Bank reported standalone net profit of Rs. 51.01 crore for the quarter ended December 31, 2015, registering decline of 93.41% yoy and 91.78% qoq.

Punjab National Bank cracked 5.5% to Rs.82.85 on NSE. The Bank reported standalone net profit of Rs. 51.01 crore for the quarter ended December 31, 2015, registering decline of 93.41% yoy and 91.78% qoq.

The scrip opened at Rs. 86.1 and has touched a high and low of Rs. 86.45 and Rs. 82.45 respectively. So far 5020371(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 17250.2 crore.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 180.5 on 17-Aug-2015 and a 52 week low of Rs. 86.75 on 20-Jan-2016. Last one week high and low of the scrip stood at Rs. 97.9 and Rs. 87.1 respectively.

The promoters holding in the company stood at 62.08 % while Institutions and Non-Institutions held 32.27 % and 5.64 % respectively.

The stock is currently trading above its 200 DMA.

Flat start! Rupee trades at 67.95/$

In international markets, US dollar continues to lose ground against the basket of currencies, with Dollar index moving below 96 levels. The currency touched a high and low of 68.09 and 68.20 respectively.

Indian Rupee opened flat at 67.90/$ in early trade on Wednesday as against the previous close of 67.90/$. On macroeconomic side, Indian economy grew 7.3% during the third quarter of the fiscal year 2015‐16, slower than the upwardly revised reading of 7.7% during the prior quarter. Indian government has projected growth for FY2015‐ 16 at 7.6%, better than the growth rate of 7.2% during the previous fiscal year.

In international markets, US dollar continues to lose ground against the basket of currencies, with Dollar index moving below 96 levels. Yen has categorically surged to multi‐ month highs, as investors remain skeptical negative interest rates.  Negative interest rate policy adopted by BOJ and ECB is leading to a perception that central banks are running out of ammunition in order to combat deflation. Markets are now pricing in the fact that prevalent deterioration inthe global economic landscape will compel US Fed to do a volte face on the process of policy normalization.

Tomorrow, market focus will be accentuated on Fed chief Janet Yellen testimony to US Senate. It is widely expected that Yellen will remain dovish, given the prevalent economic landscape. This will weigh on US dollar and we will not be surprised to see US dollar index moving towards 94 levels.


On Tuesday, the rupee ended at 67.90/$, weaker by 4 paise from its previous close of 67.94/$ on Monday. The currency touched a high and low of 68.09 and 68.20 respectively.The Reserve Bank of India’s (RBI) reference rate for the dollar stood at 68.16 and for Euro stood at 76.53 on February 5, 2016. While, the RBI’s reference rate for the Yen stood at 59.39, the reference rate for the Great Britain Pound (GBP) stood at 98.2696.

NHPC to consider payment of dividend

The company will announce its Q3 numbers today.

NHPC Ltd ended at Rs. 20.8, up by Rs. 0.2 or 0.97% from its previous closing of Rs. 20.6 on the BSE. The company will announce its Q3 numbers. It will also consider payment of dividend.


The scrip opened at Rs. 0 and touched a high and low of Rs. 0 and Rs. 0 respectively. A total of 1630215(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 22805.58 crore.

The BSE group 'A' stock of face value Rs. 10 touched a 52 week high of Rs. 22.35 on 06-Jan-2016 and a 52 week low of Rs. 15.55 on 25-Aug-2015. Last one week high and low of the scrip stood at Rs. 21.05 and Rs. 19.75 respectively.

The promoters holding in the company stood at 85.96 % while Institutions and Non-Institutions held 6.72 % and 7.32 % respectively.

The stock traded below its 50 DMA.

TCS, Jet Airways,ITC, Cipla among 28 Stocks in focus today

Check out the companies which will be in focus during trade today based on recent and latest news developments.

Cipla: Cipla Ltd, one of the leading drug makers in India, will announce its Q3 numbers today.IIFL forecasts the company’s net revenue for Q3 FY16 to increase to Rs. 3,403 crore, growing at a rate of 23.1% yoy; however, it is likely to drop 1.4% qoq.         

ITC: Fortis Inc and ITC Holdings Corp. announced that they have entered into an agreement and plan of merger pursuant to which Fortis will acquire ITC in a transaction valued at approximately US$11.3 billion.

Motherson Sumi: The company posted a net profit after taxes, minority interest and share of profit of associates of Rs. 3073.50 mn for the quarter ended December 31, 2015 as compared to Rs. 2542.10 million for the quarter ended December 31, 2014.

TCS: TCS allayed market concerns about the state of demand in the Banking and Financial Services industry vertical by reiterating that TCS' business in the BFS vertical continues to grow well, ahead of the overall company growth.

Ambuja Cement: The company will announce its Q3 numbers today.IIFL forecasts the company’s net profit for Q4 FY15 to decline to Rs. 204 crore, at a rate of 37.9% yoy; however, it is likely to go up 32.8% qoq.

Jet Airways (India) Ltd: Jet Airways is expected to place another large aircraft order, a top official at aircraft maker Boeing Co. has been quoted as saying by a business daily.

Shree Renuka Sugars Ltd: The company reported a narrowing of its standalone net loss at Rs. 45.8 crore for the quarter ended December 31, 2015.

Raymond said its Board has approved raising of up to Rs. 100 crore through issuance of non-convertible debentures (NCDs) on private placement basis.

IDBI Bank Ltd: State-owned IDBI Bank raised Rs. 1,000 crore from bonds on private placement basis to fund infrastructure projects.

Prestige Estates Projects Ltd: Prestige Estates Projects reported 35% decline in standalone net profit at Rs. 64.85 crore for the quarter ended December.

SRF: The company said it has claimed Rs. 80 crore as damage from the insurance company for its Manali plant due to recent floods and rains in Tamil Nadu.

Essar Oil Ltd: Essar Oil net profit increased to Rs. 364 crore in the third quarter if 2015-16 from Rs. 52 crore a year ago despite a decline in revenue, driven by robust margins.

MOIL: The company’s standalone revenue stood at Rs. 87.81 crore, down 59.79% yoy and 40.13% qoq.

Allahabad Bank: Allahabad Bank Bank, mid-sized PSU bank, reported standalone net loss of Rs. 486.14 crore for the quarter ended December 31, 2015.The bank's Net Interest Income (NII) stood at Rs. 1,416.22 crore, registering decline of 12.65% yoy and 11.87% qoq.

Larsen & Toubro: L&T has been awarded the INR 1,734-crore EPC contract to work on the construction of the Dholera smart city, reports a business daily.

Hindalco Industries: The company’s standalone revenue stood at Rs. 8,150.27 crore, down 5.26% yoy and 8.68% qoq.

GAIL (India): The company’s standalone revenue stood at Rs. 13,451.58 crore, down 10.14% yoy and 5.04% qoq.

Suprajit Engineering: The company’s standalone revenue stood at Rs. 159.07 crore, clocking growth of 12.74% yoy and 7.31% qoq.

Dena Bank: Dena Bank, financial services company, reported standalone net loss of Rs. 662.85 crore for the quarter ended December 31, 2015.

Ramco Cements: The company’s consolidated revenue stood at Rs. 821.21 crore, up 0.58% yoy but down 8.38% qoq

SpiceJet, IndiGo: Competition Appellate Tribunal stayed penalties totalling Rs. 106 crore imposed by CCI on IndiGo and SpiceJet for alleged cartelisation in fixing fuel surcharge on air cargo, as per report.

Jubilant Life Sciences: Jubilant Life Sciences, integrated global pharmaceutical, reported consolidated net profit of Rs.116.93 crore for the quarter ended December 31, 2015, registering growth of 0.96% qoq.

SAIL: The company posted a net loss of Rs. 15287.30 mn for the quarter ended December 31, 2015 as compared to net profit of Rs. 5790.90 mn for the quarter ended December 31, 2014.
Punjab National Bank: The Bank reported standalone net profit of Rs. 51.01 crore for the quarter ended December 31, 2015, registering decline of 93.41% yoy and 91.78% qoq.

Sunil Hitech Engineers: Sunil Hitech Engineers , diversified company with interest in power plant construction, reported standalone net profit of Rs. 12.75 crore for the quarter ended December 31, 2015, registering growth of 40.17% yoy.

Gujarat Fluorochemicals: The company’s consolidated revenue stood at Rs. 1,608.22 crore, down 0.79% yoy and 10.42% qoq.

Ashiana Housing: The company reported a fall of 95% in net profit to Rs.0.26 crore for the quarter ended Dec. 31, 2015 as compared to Rs.5.3 crore in the same period last year.

Britannia Industries: Britannia Industries , biscuit maker, reported consolidated net profit of Rs.207.59 crore for the quarter ended December 31, 2015, registering growth of 51.22% yoy.

Eros International Media: The company’s consolidated revenue stood at Rs. 335.38 crore, down 31.66% yoy and 33.58% qoq.

Aurobindo Pharma: Aurobindo Pharma , pharmaceutical research company, reported consolidated net profit of Rs. 534.95 crore for the quarter ended December 31, 2015, registering growth of 39.18% yoy.

Ramco System: The company’s consolidated revenue stood at Rs. 117.60 crore, witnessing growth of 9.19% qoq and 19.87% yoy.

Apollo Tyres: Apollo Tyres, tyre maker, reported consolidated net profit of Rs. 278.60 crore for the quarter ended December 31, 2015, registering growth of 51.25% yoy.

Gulf Oil Lubricants India: The company’s standalone revenue stood at Rs. 260.23 crore, up 9.07% yoy.

Sensex, Nifty to open on a weak note

Nifty may continue to struggle before a meaningful bounce back. The low of 7240 will remain crucial support for the Nifty. The rupee movement will be in focus.

Wounded investors have to get geared for some more battering. The ongoing weakness in the market has more to do with multiple negative vibes from across global markets rather that weak December quarter earnings of India Inc. The Sensex has plunged almost 600 points over the past two days, eroding almost Rs. 1,20,000 crore of equity investors wealth.

The outlook is another weak start. Nifty may continue to struggle before a meaningful bounce back. The low of 7240 will remain crucial support for the Nifty. The rupee movement will be in focus. Among results to watch for the day include Cipla, Ambuja Cements, ACC, Alstom T&D, Glaxosmithkline Pharma,  Bata India and Blue Dart Express among others. Following IEA's weak outlook for global oil demand, crude oil prices lost gains of a fortnight as Brent crude dropped below $31 while West Texas Intermediate was below $28 a barrel in New York.  Attention will be on what Janet Yellen says to the House Financial Services Committee later today. Global cues are subdued with Asian markets weak. US stock indices finished flat.

TCS allayed market concerns about the state of demand in the Banking and Financial Services industry vertical by reiterating that TCS' business in the BFS vertical continues to grow well, ahead of the overall company growth.

Piramal Enterprises is planning to demerge its healthcare and financial services businesses to grow the unrelated divisions separately, marking an important turn in the legacy of the diversified conglomerate.

The Government is considering allowing 100% foreign direct investment (FDI) in the marketplace format of e-commerce in a bid to attract more foreign investment, reports a business daily.

As part of its expansion plans in India, US retail giant Walmart on Tuesday signed three Memorandums of Understanding (MOU) with the Telangana government.

The global oil demand growth is forecast to ease back considerably in 2016, to 1.2 mb/d, pulled down by notable slowdowns in Europe, China and the United States, the newly released IEA Oil Market Report  (OMR) for February informs subscribers.

Crisil expects India’s GDP growth at 7.9% in fiscal 2017. The Indian economy has weathered two successive monsoon failures plus damage from unseasonal rains in early 2015 with no deleterious repercussion on inflation and growth.