Market may open higher on firm Asian stocks

The market may open higher on firm Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 24.50 points at the opening bell. Sterlite Industries' consolidated net profit rose 50.72% to Rs 1924.63 crore on 15.6% rise in total income to Rs 13394.23 crore in Q4 March 2013 over Q4 March 2012.The increase in revenue was driven by higher volumes and depreciation of the Indian Rupee, which more than offset lower metal prices. During Q4 and full year, the company delivered higher refined silver, lead, Copper, Aluminium and Power and higher mined metal production at Zinc India. The company announced its Q4 results before market hours today, 30 April 2013. Commenting on the company's performance, Chairman Mr. Anil Agarwal said, "We achieved a strong operating and financial performance in FY2013. With production growth across our portfolio of world class assets, we recorded a net profit of Rs 6060 crore in FY2013 and the board has declared total interim dividend of Rs 2.30 per share for FY2013." HSBC Securities and Capital Markets (India) (Manager to the open offer) said before market hours today, 30 April 2103 that, Unilever PLC along with Unilever N.V. in its capacity as person acting in concert is making a voluntary open offer to acquire 48.70 crore shares representing 22.52% of the total voting share capital from the public shareholders of Hindustan Unilever. The consideration of open offer will be payable in cash of Rs 600 per share. Unilever PLC and Unilever N.V. are the two parent companies of the Unilever Group of companies. Bosch after market hours on Monday, 29 April 2013, reported 22.65% fall in net profit to Rs 259.77 crore on 2.77% fall in total income to Rs 2296.75 crore in Q1 March 2013 over Q1 March 2012. Shree Cement after market hours on Monday, 29 April 2013 reported 139.84% jump in net profit to Rs 274.09 crore on 4.19% rise in total income to Rs 1514.41 crore in Q3 March 2013 over Q3 March 2012. Key benchmark indices edged higher on first trading session of the week on Monday, 29 April 2013 as gains in European stocks and higher US index futures boosted sentiment. The S&P BSE Sensex jumped 100.78 points or 0.52% to 19,387.50 on that day, its highest closing level since 25 April 2013. Foreign institutional investors (FIIs) bought shares worth a net Rs 620.38 crore on Monday, 29 April 2013, as per provisional data from the stock exchanges. The stock market remains closed tomorrow, 1 May 2013, on account of Maharashtra Day. The focus of the market is on Q4 results. IDFC announces Q4 results tomorrow, 1 May 2013. Bharti Airtel and Kotak Mahindra Bank unveil Q4 results on Thursday, 2 May 2013. ACC and Ambuja Cements announce Q1 March 2013 results on Friday, 3 May 2013. Grasim and Jaiprakash Associates unveil Q4 results on Saturday, 4 May 2013. HDFC and Lupin unveil Q4 results on 8 May 2013. Ranbaxy announces Q1 March 2013 results on the same day. Asian Paints announces Q4 results on 9 May 2013. NTPC announces Q4 results on 10 May 2013. Dr Reddys Laboratories announces Q4 results on 14 May 2013. Bajaj Auto announces Q4 results on 16 May 2013. BPCL announces Q4 results on 29 May 2013. M&M announces Q4 results on 30 May 2013. Markit Economics will unveil HSBC India Manufacturing PMI, which gauges the business activity of India's factories, for April 2013 tomorrow, 1 May 2013. The HSBC India Manufacturing PMI fell to 52 in March 2013, after a surge to 54.2 in February 2013. Markit Economics will unveil the result of a monthly survey on the performance of India's services sector for April 2013 on Friday, 3 May 2013. The HSBC Services Purchasing Managers' Index, based on a survey of around 400 companies, fell to a 17-month low of 51.4 in March from 54.2 in February. Services make up over 60% of India's economy. Slowing wholesale price inflation has raised expectations that the Reserve Bank of India (RBI) will cut its key policy rate viz. the repo rate to boost economic growth. The (RBI) will announce the Monetary Policy Statement 2013-14 on Friday, 3 May 2013. The RBI cut its key policy rate viz. the repo rate by 25 basis points to 7.5% after a mid-quarter monetary policy review on 19 March 2013. Inflation based on the monthly wholesale price index (WPI) eased to the lowest level in 40 months at 5.96% in March 2013, and sharply lower than 6.84% in February 2013, data released by the government on 15 April 2013 showed. Non-food manufacturing inflation or core inflation slowed further to 3.41% in March 2013, the data showed. Asian stocks rose on Tuesday after U.S. housing sales gained and amid speculation central banks will keep stimulating growth. Key benchmark indices in Hong Kong, Taiwan, Singapore and South Korea rose by Key benchmark indices in Japan and Indonesia fell by 0.25% to 1.13%. Stock markets in mainland China were closed for a holiday. US stocks gained on Monday with S&P 500 index ending at an all-time high as growth-oriented stocks, including energy and technology, lead the way to the index's sixth rise in the past seven sessions. A report showed contracts to buy previously owned homes rose last month to their highest level since April 2010, showing underlying strength in the housing market recovery, even though the pace of sales growth has cooled in recent months. A two-day meeting of the Federal Open Market Committee on US interest rates begins today, 30 April 2013. In Europe, the European Central Bank's (ECB) Governing Council meets in Bratislava on Thursday, 2 May 2013, to review euro area interest rates. The ECB is seen cutting euro area interest rates by 25 basis points to a record low of 0.5% as economic conditions continue to deteriorate across the euro zone and as inflation remains well below the bank's target.