The BSE Mid-cap Index is trading up 0.87% at 10,282, whereas BSE Small-cap Index is trading up 1.10% at 10,715.
The BSE Mid-cap Index is trading up 0.87% at 10,282, whereas BSE Small-cap Index is trading up 1.10% at 10,715.
Indian Rupee opened at 67.54/$,up 9 paise in early trade on Monday as against the previous close of 67.63/$. On macroeconomic side, US, existing home sales rebounded strongly in December from a 19‐ month low, jumping by almost 15% to an annual rate of 5.46mn units. Much of the advance was due to the introduction of new mortgage disclosure rules that took effect in November, delaying some of these sales, which eventually took place in December. US preliminary Markit Manufacturing PMI for January rose as well, coming in at 52.7 and beating expectations of 51.0.
Asian markets are in the green. Some attention will be on Indo-French deals during the day. The rupee could gain some strength though the upside could get capped by month-end dollar buys by importers.
Five Indian drug companies — Torrent Pharmaceuticals, Dr Reddy's Laboratories, Aurobindo Pharma, Cipla and Lupin — are in initial discussions to bid for Sagent Pharmaceuticals, a Nasdaq-listed specialty injectables maker, according to reports.
India Inc hopes to see better sales volume and improved capacity utilization in the next two quarters but does not expect any uptick in investment and corporate earnings even as the overall macro situation would change for better, according to an ASSOCHAM Bizcon Survey.
Hero FinCorp, the consumer finance arm of Hero Moto-Corp, is planning to sell up to 10% stake in the company to raise about $120 mn, according to reports.
Mahindra Defence and Airbus Helicopters on Sunday signed a ‘statement of intent’ to strengthen their 'Make in India ' partnership and to affirm their commitment to make military helicopters.
PNB Housing Finance may go for an initial public offering (IPO) in mid-2017, according to reports.
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