TOP EVENTS TODAY
* Annual General Meetings of: Amtek Auto, Amtek India, BF Utilities, Kilburn Chemicals, Prime Securities.
BOARD MEETINGS OF:
* Oil & Natural Gas Corp, to consider interim dividend.
* Sunil Hitech Engineers, to consider issue of convertible warrants.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 22: FII 0.15, DII (0.08)
* FII NSE futures net buy/(sale) in bln rupee, Mar 22: index 0.08, shr (0.15)
* Sensex 21755.32, up 1.57 points; Nifty 6494.90, up 1.70 points
* Crude: $99.46/bbl; Rupee: 60.89/$1; Gold: $1,334.7/oz; 10-yr yld: 8.7955%
WEEKLY STOCKS OUTLOOK
* AUTOMOBILE: In narrow range amid lack of triggers
* BANKS: Rise capped on caution before RBI policy
* CAPITAL GOODS: Mixed; L&T, Crompton may gain
* CEMENT: Seen trading up on revival hopes
* FMCG: MNCs' stocks seen moving up on de-listing buzz
* IT: Seen steady in overall directionless market
* OIL: PSU companies rangebound with weak bias; RIL subdued
* PHARMACEUTICALS: Seen up on defensive buying
* METAL: Seen continuing rally
* TELECOM: Rangebound; Feb GSM numbers eyed.
GLOBAL STOCK MARKETS
* Key Asian markets: Most Asian indices were up, but off their intraday highs, as China's flash manufacturing Purchasing Managers' Index fell to 48.1 in March from 48.5 in February.
SECTOR NEWS
* AUTO: Audi will begin selling its premium A3 sedan in India from the middle of the year and the car will be rolled out from the company's production facility in Aurangabad.
* AVIATION: AirAsia India, a joint venture between Tata Sons and AirAsia, took delivery of its first Airbus A320 on Saturday.
* The Indian aviation regulator has tightened the screws on airline companies after the US Federal Aviation Administration in January downgraded the country's safety rating and put it on part with Swaziland and Uruguay.
* ENTERTAINMENT: Aditya Birla Private Equity is in talks to buy 6% stake in Adlabs Imagica, India's largest entertainment theme park for 1 bln rupees.
* FAST MOVING CONSUMER GOODS: Consumer product companies drastically cut down on product launches in 2013 to avoid additional cost pressures in a year when sales growth slipped to a decade low.
* FINANCE: IL&FS Financial Services expects to close $1 bln of its targeted $5 bln infrastructure debt fund by September.
* INFORMATION TECHNOLOGY: India outsourcing firms are looking to add higher value services to their portfolio given margin declines and slower growth.
* INFRASTRUCTURE: The languishing highways sector could get a boost with the government planning to roll out a new construction and development model that will make it cheaper to build and operate projects. Projects to build 2,500 km of highways, awarded between 2011 and 2014 have been cancelled because of developers not paying performance guarantees, or due to delays in land acquisition or environmental clearance. Indian railways has given out orders for about 1350 cast steel bogies to be used by Container Corp of India for its flat wagons.
* METALS: Vendanta Resources Chairman and Promoter Anil Agarwal has steadily consolidated his stake in the company by buying nearly 4% stake in past four months, taking his stake to 69.51%. The wait for Posco to start its 520-bln-rupee Odisha steel project may get longer as the state government is not expected to transfer the required land to the company after the Lok Sabha polls are over in the mid-May. Steel prices may drop or remain unchanged in April due to falling international steel prices, drop in domestic iron ore prices and recent appreciation in the rupee against the dollar.
* PHARMACEUTICALS: While leading Indian drug makers are increasingly facing enforcement action as well as damage to reputation in the US, American generic medicine manufacturers are gaining market share there.
* POLICY: The Planning Commission is unlikely to soon revise the formula for allocation of central funds to states on the basis of Raghuram Rajan committee's recommendations on addressing back-wardness, member B.K. Chaturvedi said.
* POWER: The last dates for submission of final price bids for the two ultra mega power projects in Tamil Nadu and Odisha have now been extended, as interested parties want more time to evaluate the tender norms.
* REGULATORY: The Securities and Exchange Board of India is finalising proposals to make it mandatory for mutual funds to contribute their own seed capital along with investors' money.
* TELECOM: GSM industry body COAI has asked the Department of Telecommunications to allow reconfiguration of airwaves in the 1800 Mhz band in order to create contiguous blocks to spectrum. Reliance Jio will launch 4G services in 100 towns by Sep-Oct and 700 towns in two years.
STOCKS
* BHARAT PETROLEUM CORP: The company has decided to develop its Assam-based Numaligarh refinery as an export hub for petroleum products to neighbouring Bangladesh and Nepal.
* CAIRN INDIA: Oil & Natural Gas Corp approved the company's plan to raise the cost of developing the second biggest oilfield in Rajasthan block by 30% to $608 mln.
* COAL INDIA: The company has been forced to shut operation at five of its large mines ahead of a likely revival in power demand during the general elections.
* FINANCIAL TECHNOLOGIES: Minority shareholders may oppose use of the company's money for National Spot Exchange relief, and regulator Forward Markets Commission may allow exchanges to auction 'unfit' shareholders' stakes.
* MARUTI SUZUKI: The company is likely to end the financial year with 50% share of the Indian car market, its best tally in the past four-five years.
* MT EDUCARE: Board has approved selling the company's college campus in Mangalore,Karnataka.
* MULTI COMMODITY EXCHANGE: The finance ministry has suggested that the MCX Stock Exchange be merged with the BSE or the National Stock Exchange. Many of the 16 state-owned banks and financial institutions, owning over 80% of the company's stake, are reluctant to participate in its rights issue amid ongoing Central Bureau of Investigation probe.
* NATCO PHARMA: The Delhi High Court issued a notice to the company in response to an intra-court appeal lodged by Israel's Teva Pharmaceutical.
* OIL & NATURAL GAS: Chairman and Managing Director Dinesh K. Sarraf has said the company will be unperturbed by sanctions against Russia, unless they are from the United Nations.
* PERSISTENT SYSTEMS: The company has invested in healthcare technology startup Hyginex through its venture capital fund.
* RELIANCE INDUSTRIES: The company has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10% over and above the new rate of $8.3 per mmBtu coming into effect next month. The fertiliser ministry has written to the oil ministry flagging concerns on the draft gas sales and purchase agreement sent by the company to fertiliser companies. The company wants gas supply pacts to be annually compared to the current gas sales and purchase agreement signed in 2009 for five years.
* STEEL AUTHORITY OF INDIA: And CII-Triveni Water Institute have signed a memorandum of understanding for a joint partnership towards water conservation.
* TATA MOTORS: The company plans to invest up to 15 bln rupees in 2014-15 (Apr-Mar) to develop new products and technologies for its commercial vehicle segment.
* TITAN COMPANY: The company is looking to increase its size by two-and-a-half times in the jewellery market over the next five years.
View more
* Annual General Meetings of: Amtek Auto, Amtek India, BF Utilities, Kilburn Chemicals, Prime Securities.
BOARD MEETINGS OF:
* Oil & Natural Gas Corp, to consider interim dividend.
* Sunil Hitech Engineers, to consider issue of convertible warrants.
INDICATORS (previous session)
* NSE provisional net buy/(sale) in bln rupees, Mar 22: FII 0.15, DII (0.08)
* FII NSE futures net buy/(sale) in bln rupee, Mar 22: index 0.08, shr (0.15)
* Sensex 21755.32, up 1.57 points; Nifty 6494.90, up 1.70 points
* Crude: $99.46/bbl; Rupee: 60.89/$1; Gold: $1,334.7/oz; 10-yr yld: 8.7955%
WEEKLY STOCKS OUTLOOK
* AUTOMOBILE: In narrow range amid lack of triggers
* BANKS: Rise capped on caution before RBI policy
* CAPITAL GOODS: Mixed; L&T, Crompton may gain
* CEMENT: Seen trading up on revival hopes
* FMCG: MNCs' stocks seen moving up on de-listing buzz
* IT: Seen steady in overall directionless market
* OIL: PSU companies rangebound with weak bias; RIL subdued
* PHARMACEUTICALS: Seen up on defensive buying
* METAL: Seen continuing rally
* TELECOM: Rangebound; Feb GSM numbers eyed.
GLOBAL STOCK MARKETS
* Key Asian markets: Most Asian indices were up, but off their intraday highs, as China's flash manufacturing Purchasing Managers' Index fell to 48.1 in March from 48.5 in February.
SECTOR NEWS
* AUTO: Audi will begin selling its premium A3 sedan in India from the middle of the year and the car will be rolled out from the company's production facility in Aurangabad.
* AVIATION: AirAsia India, a joint venture between Tata Sons and AirAsia, took delivery of its first Airbus A320 on Saturday.
* The Indian aviation regulator has tightened the screws on airline companies after the US Federal Aviation Administration in January downgraded the country's safety rating and put it on part with Swaziland and Uruguay.
* ENTERTAINMENT: Aditya Birla Private Equity is in talks to buy 6% stake in Adlabs Imagica, India's largest entertainment theme park for 1 bln rupees.
* FAST MOVING CONSUMER GOODS: Consumer product companies drastically cut down on product launches in 2013 to avoid additional cost pressures in a year when sales growth slipped to a decade low.
* FINANCE: IL&FS Financial Services expects to close $1 bln of its targeted $5 bln infrastructure debt fund by September.
* INFORMATION TECHNOLOGY: India outsourcing firms are looking to add higher value services to their portfolio given margin declines and slower growth.
* INFRASTRUCTURE: The languishing highways sector could get a boost with the government planning to roll out a new construction and development model that will make it cheaper to build and operate projects. Projects to build 2,500 km of highways, awarded between 2011 and 2014 have been cancelled because of developers not paying performance guarantees, or due to delays in land acquisition or environmental clearance. Indian railways has given out orders for about 1350 cast steel bogies to be used by Container Corp of India for its flat wagons.
* METALS: Vendanta Resources Chairman and Promoter Anil Agarwal has steadily consolidated his stake in the company by buying nearly 4% stake in past four months, taking his stake to 69.51%. The wait for Posco to start its 520-bln-rupee Odisha steel project may get longer as the state government is not expected to transfer the required land to the company after the Lok Sabha polls are over in the mid-May. Steel prices may drop or remain unchanged in April due to falling international steel prices, drop in domestic iron ore prices and recent appreciation in the rupee against the dollar.
* PHARMACEUTICALS: While leading Indian drug makers are increasingly facing enforcement action as well as damage to reputation in the US, American generic medicine manufacturers are gaining market share there.
* POLICY: The Planning Commission is unlikely to soon revise the formula for allocation of central funds to states on the basis of Raghuram Rajan committee's recommendations on addressing back-wardness, member B.K. Chaturvedi said.
* POWER: The last dates for submission of final price bids for the two ultra mega power projects in Tamil Nadu and Odisha have now been extended, as interested parties want more time to evaluate the tender norms.
* REGULATORY: The Securities and Exchange Board of India is finalising proposals to make it mandatory for mutual funds to contribute their own seed capital along with investors' money.
* TELECOM: GSM industry body COAI has asked the Department of Telecommunications to allow reconfiguration of airwaves in the 1800 Mhz band in order to create contiguous blocks to spectrum. Reliance Jio will launch 4G services in 100 towns by Sep-Oct and 700 towns in two years.
STOCKS
* BHARAT PETROLEUM CORP: The company has decided to develop its Assam-based Numaligarh refinery as an export hub for petroleum products to neighbouring Bangladesh and Nepal.
* CAIRN INDIA: Oil & Natural Gas Corp approved the company's plan to raise the cost of developing the second biggest oilfield in Rajasthan block by 30% to $608 mln.
* COAL INDIA: The company has been forced to shut operation at five of its large mines ahead of a likely revival in power demand during the general elections.
* FINANCIAL TECHNOLOGIES: Minority shareholders may oppose use of the company's money for National Spot Exchange relief, and regulator Forward Markets Commission may allow exchanges to auction 'unfit' shareholders' stakes.
* MARUTI SUZUKI: The company is likely to end the financial year with 50% share of the Indian car market, its best tally in the past four-five years.
* MT EDUCARE: Board has approved selling the company's college campus in Mangalore,Karnataka.
* MULTI COMMODITY EXCHANGE: The finance ministry has suggested that the MCX Stock Exchange be merged with the BSE or the National Stock Exchange. Many of the 16 state-owned banks and financial institutions, owning over 80% of the company's stake, are reluctant to participate in its rights issue amid ongoing Central Bureau of Investigation probe.
* NATCO PHARMA: The Delhi High Court issued a notice to the company in response to an intra-court appeal lodged by Israel's Teva Pharmaceutical.
* OIL & NATURAL GAS: Chairman and Managing Director Dinesh K. Sarraf has said the company will be unperturbed by sanctions against Russia, unless they are from the United Nations.
* PERSISTENT SYSTEMS: The company has invested in healthcare technology startup Hyginex through its venture capital fund.
* RELIANCE INDUSTRIES: The company has made drastic changes in gas supply contracts that will jack up its KG-D6 gas price by 10% over and above the new rate of $8.3 per mmBtu coming into effect next month. The fertiliser ministry has written to the oil ministry flagging concerns on the draft gas sales and purchase agreement sent by the company to fertiliser companies. The company wants gas supply pacts to be annually compared to the current gas sales and purchase agreement signed in 2009 for five years.
* STEEL AUTHORITY OF INDIA: And CII-Triveni Water Institute have signed a memorandum of understanding for a joint partnership towards water conservation.
* TATA MOTORS: The company plans to invest up to 15 bln rupees in 2014-15 (Apr-Mar) to develop new products and technologies for its commercial vehicle segment.
* TITAN COMPANY: The company is looking to increase its size by two-and-a-half times in the jewellery market over the next five years.
View more
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