Sensex to open on a flat note

Crompton Greaves will consider plans to demerge Crompton Greaves Consumer Products Ltd and will be in limelight.

Feb 19, 2015 03:02 IST India Infoline News Service

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The Prime Minister is said to have had lucky nine months. The market too has rejoiced. But whispers are getting louder with corporate chiefs reiterating that nothing much has changed on the ground. HDFC chairman Deepak Parekh’s comment that after nine months, there is a little bit of impatience creeping in as to why no changes are happening could bring in a reality check. For the moment all expectations are now pinned on the budget.

The outlook is a flat start. Individual stocks will continue to swing.  ACC & Ambuja Cements could be in focus on reports of a  mega restructuring.  Crompton Greaves will consider plans to demerge Crompton Greaves Consumer Products Ltd and will be in limelight. Results of Bharti Shipyard, Innoventive Industries and Stovec Industries are expected today.

Defence counters were on the offensive on Wednesday after  Prime Minister Narendra Modi spoke of a favourable business environment to the domestic and foreign companies in the Defence sector. Speaking at the ‘Aero India 2015’ show in Bengaluru,PM said that rather than being the largest importer of the defence wares, he wanted the domestic manufacture of defence equipment to go up.

Asian markets are up with Japan's Nikkei 225 gaining half a percent. US stocks ended flat.  The Dow fell 47.16 points, or 0.26 per cent, to 18,000.42, the S&P 500 lost 5.27 points, or 0.25 per cent, to 2,095.07 and the Nasdaq Composite dropped 2.33 points, or 0.05 per cent, to 4,896.94.
Fed Minutes showed that officials were not in a rush to raise interest rates, as “many” on the Fed said a premature rate hike would harm the recovery, while only “several” thought a later move would risk high inflation. The minutes show Fed officials had different ideas about the economic conditions that would be appropriate for the first rate hike.

U.S. crude-oil supplies as of the week ended Feb. 13 saw a whopping 14.3 million-barrel jump from a week earlier, the trade group reported, according to news reports and various sources. This has come as a shocker.
The coal block auction has taken the Centre by surprise, says a report. Govt is set to get  Rs. 52,610 crore from the bid amounts for the 11 blocks sold, the report added.

Lupin  launched a new version of its asthma drug delivery device in the US market under a licensing agreement with the New Jersey-based respiratory research and development company InspiRX Inc

Sundaram Finance has agreed to buy its partner RSA Group’s 26 per cent stake in Royal Sundaram Alliance Insurance for Rs. 450 crore. Post completion of the deal, Sundaram Finance and its associates will fully own the insurance company. Sundaram Finance’s holding in it will increase to 75.90 per cent from 49.90 per cent.

Hero Group promoters sold 70 lakh shares, in Hero MotoCorp. In a statement, the Hero Group said: “The Prime Minister’s ‘Make in India’ platform has opened up new vistas, some in very high growth areas and the Hero group — with its experience, scale of operations and brand equity — is uniquely placed to leverage these opportunities.”

From March 1, investors will have unified single statement for all dematerialised accounts across the capital market products, said the National Securities Depository Ltd (NSDL). This means that an investor would get a unique ID number through which a comprehensive picture of all his/her market investments in one statement from the next month, says a report.
S&P BSE Indices, which publishes benchmark equity indices for the BSE, has announced rules on the inclusion of shares with differential voting rights (DVRs) on the S&P BSE Sensex, BSE 100, BSE 200 and BSE 500 indices.

Driven by higher fund mobilisation by PFC and REC, capital raised by Indian companies through corporate bonds on private placement basis surged by 40 per cent to Rs. 2.67 lakh crore in the first nine months of the current fiscal. According to Prime Database, firms raised Rs. 2,67,621 crore during April-December period of 2014-15 against Rs. 1,91,119 crore mobilised in the corresponding period previous year, the Businessline reported.

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