Thursday, August 16, 2012
Reliance Industries has proposed to drill the first exploration in almost five years in the flagging gas fields at its own cost. (BL) Reliance Industries is in talks with BP to buy its petrochemicals plant in Malaysia as it seeks to replicate its domestic success in building fully integrated operations in all its businesses. (ET) The US drug regulator is expected to inspect Aurobindo Pharma Ltd’s two manufacturing facilities in Andhra Pradesh during September-December. (BS) Cipla has launched ‘Qvir’, a four-drug kit priced at ~158 to be used for treating HIV/AIDS. (BS)
Having a dream is what keeps you alive. Overcoming the challenges make life worth living. - Mary Tyler Moore Another Independence Day has come and gone. The Prime Minister has promised that the Government will work hard for India's rapid economic growth and for shielding the country from the effects of the global economic slowdown. Blaming lack of political consensus for the logjam in many issues the PM says the time has now come to view the issues which affect our development process as matters of national security. The opposition has termed the PM’s speech as lackluster and uninspiring.
The Indian markets may open on a flat note led by mixed global peers. SGX Nifty is trading 0.50 points higher. Events for the day: Ex date for stock split of VTM. Ex date for final dividend of Bharti Airtel and Gail India. Headlines for the day: RIL proposes to drill KG-D6 probe well at own cost. GAIL eyes stake in Russia's planned LNG plant. CCI allows merger of India Securities with Essar Capital. Indian Indices: The Indian markets may begin the trade on a flat note tracking mixed global cues. SGX Nifty is trading 0.50 points higher. Jupiter Infomedia, a web infomedia company with online publications on business, encyclopedia and yellowpages, will list its equity shares on BSE SME platform today. On Tuesday (August 14, 2012), the Sensex settled at 17728, up by 94 points while the Nifty closed at 5380, rising by 32 points. Global Indices: Asian stock markets steadied on Thursday (August 16, 2012) as the investors took the sidelines, waiting for more clues over the timing and extent of any further stimulus to tackle the euro zone's debt crisis and support global growth. European shares ended flat on Wednesday (August 15, 2012), consolidating after a recent strong rally and held back by weaker mining stocks after downbeat results from Eurasian Natural Resources. US stocks finished the day roughly flat as investors juggled an unexpected contraction in domestic manufacturing activity and a mixed batch of corporate earnings. Daily trend of FII/MF investment in equities: The FIIs have been the net buyers Indian stocks to the tune of Rs361.60 crore on August 13, 2012. The domestic investors sold Indian shares worth a net of Rs66.00 crore on August 13, 2012. The data is as per the SEBI website. Commodity Cues: Oil prices surged to their highest level in three months on Wednesday following a report of a steep drop in US oil stockpiles and fresh tensions in the Middle East.
The market is likely to open higher on positive Asian stocks. Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates a gain of 11 points at the opening bell. Asian stocks rose on Thursday as investors await further cues from the central banks of any further stimulus to revive global economic growth. India's largest private sector aluminum producer by capacity Hindalco Industries' US unit Novelis Inc on Tuesday, 14 August 2012 posted lower quarterly revenue as shipments fell and aluminum prices remained weak. The Atlanta-based aluminum product maker's revenue fell 18 percent in the first quarter to $2.6 billion. Net income rose to $91 million from $62 million a year earlier as the company set aside less money for income tax during the quarter. Shipments of aluminum-rolled products dipped 6 percent to 722 kilotonnes during the latest concluding quarter. Average aluminum prices declined $626 per tonne in the first quarter compared to the same period last year.
Reliance Power rose 1.36% at Rs 93.50 at 13:45 IST on BSE after the consolidated net profit rose 22% to Rs 240 crore on 110% surge in operating revenues to Rs 1136 crore in Q1 June 2012 over Q1 June 2011. The result was announced during trading hours today, 14 August 2012. Meanwhile, the BSE Sensex was up 81.51 points, or 0.46%, to 17,714.96. On BSE, 10.15 lakh shares were traded in the counter as against an average daily volume of 13.17 lakh shares in the past one quarter.
The Indian markets emerged from a gloomy session of the opening bell and shut shop with smart gains in trade today. The Sensex rose 95 points higher while the Nifty rose 32 points. Major Headlines India’s export slips 14.8% in July this year Inflation for July at 6.87% vs 7.25% in June KFA extend’s yesterday’s rally; hits weekly high RPOWER cons Q1 net profit jumps 22% Asia's oldest exchange to unveil its IPO in 2013
Key benchmark indices edged higher for the second straight day and attained their highest closing level in nearly 22 weeks after the latest data showed the rate of growth in inflation based on the wholesale price index (WPI) fell to the slowest pace in nearly three years in July 2012, building hopes that the central bank will find more space to ease monetary policy and revive industrial growth that has slumped largely due to high interest rates over the past couple of years. Index heavyweight and cigarette maker ITC scaled a record high. Another index heavyweight Reliance Industries (RIL) also edged higher. The barometer index, BSE Sensex, jumped 94.75 points or 0.54%, off close to 25 points from the day's high and up 155 points from the day's low. The market sentiment was also boosted by data showing continuation of buying of Indian stocks by foreign funds and firm global stocks.