Opening Bell 7 June

Opening Bell 7 June
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First Published: Tue, Jun 07 2011. 09 04 AM IST
Updated: Tue, Jun 07 2011. 09 04 AM IST
New Delhi: The government is on a fast lane. It resolved to draft the Lokpal Bill by end of the month. Will that be enough to smother the stench of corruption? Here’s a list of things to watch out for before trading starts:
Cues from the global markets are mixed. Stock markets in the US fell for the fourth day on concerns that the Federal Reserve might increase capital requirements for larger banks. This led to selling in banks and financial services stocks. The S&P 500 fell 1.08%.
Asian stocks, on the other hand, are trading flat. Rising yen and falling crude prices are leading to selling in oil & gas companies and exporters like Sony. The Nikkei at 9,395 is up by 0.17%.
Back home, Madhucon Projects is aiming to raise Rs 1,300 crore by selling stakes in its highway and power projects. The company plans to dilute 20-26% stake in its road holding company and thermal power project.
HDIL’s slum rehabilitation project at Mumbai airport is finally witnessing some action. The Mumbai Metropolitan Region Development Authority started shifting slum-dwelling families to the HDIL’s Kurla compound.
The deadlock between workers and Maruti Suzuki India’s management is continuing. The management sacked 11 workers and has refused to accept demands made by the union. According to the management, the strike has so far resulted in a loss of 1,800 units.
Adani Power commissioned its second 660-MW unit at its Mundra (Kutch) plant. The 4,620-MW coal-fired plant comprises of five 660 MW units and four units of 330 MW each.
NMDC inked a non-binding MoU with an Australian company to develop phosphate deposits. The company would buy a 50% stake in the project after conducting a feasibility study.
SAIL is planning to invest Rs 70,000 crore in the next two to three years. The company is looking to expand its hot metal capacity from 13.8 mtpa to 23.46 mtpa.
JSW Steel has formed a team to acquire iron ore and coal mines. Read more...-
GAIL India received board approval to start natural gas-based power generation. The company is looking to set up its first power plant at Uran in Maharashtra for Rs 800 crore. The unit will have a capacity of 250 MW.
The government is having second-thoughts about capital infusion for PSU banks. With some banks expressing interest in raising funds through FPOs, government wants to support only those banks that cannot raise money on their own. Read more...
Finally, here is a piece of good news for people who cannot spend enough time in gym. Regular visits to online health clubs helps shed weight in real life. According to Indiana University researchers, confidence and motivation built in the virtual gym continued in normal life. This helped the participants - real and online, lose similar amounts of weight. Read more to find out how this strategy works best.
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First Published: Tue, Jun 07 2011. 09 04 AM IST
More Topics: Markets Update | BSE | NSE | Sensex | Nifty |
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