Mumbai: Results for the Assam, West Bengal, Tamil Nadu and Kerala assembly elections will be declared today. The outcome, even though not critical for the central government, will have a bearing on the coalition mathematics. Read more...
Meanwhile, markets have ignored IIP numbers. Too much activity in global markets overshadowed the benign industrial growth in March. Here is a list of things to know before markets open in India.
Overnight, stock markets in the US closed with gains. Buying in defensive stocks such as healthcare and consumer staples helped the markets close higher. The S&P 500 gained 0.49% and closed at 1,348.
Oil prices continued to trade weak. Brent crude for June settlement fell by $0.46 to $112.52 a barrel.
Stock markets in Asia are trading mixed. While rebounding raw material prices are helping commodity stocks, concerns about China’s liquidity tightening is weighing on investors’ mind. The Nikkei at 9,689 is down by 0.28%.
Back home, TCS and IBM are in race for an Airports Authority of India’s contract to upgrade technology systems at 10 airports. The seven-year contract, estimated to worth Rs 750 crore, will involve building a database and control centre for operations at 10 airports.
Bajaj Auto increased its stake in Austria’s KTM Power Sports AG by 1.21% to 39.3%.Since 2007 Bajaj has spent more than Rs 1,000 crore to become the second-largest shareholder in the Austrian company.
In a clear sign of changing strategy, Wipro is looking to sell consumer brands that are facing stiff competition. The company is looking to sell vanaspati and diapers brands.
The turbulence in global crude prices is bringing much required relief for domestic airlines. Aviation turbine fuel is set to fall by around 2% or Rs 1,200 per kilolitre. In tune with declining global crude prices, oil companies are looking to reduce prices of aviation turbine fuel.
SKS Microfinance moved the Supreme Court challenging the Andhra Pradesh government’s microfinance act. The court posted the matter for hearing in the third week of July.
Wockhardt is in talks to license its nutrition brand, Protinex, for around 400 crore. The company is reportedly in talks with a couple of MNCs for a possible deal.
The central government agreed to provide Rs 20,000 crore as compensation for the revenue losses suffered by BPCL, HPCL and IOC. With the poll results set to come out today, there are also expectations that the government will let the oil marketing companies increase petrol prices over the weekend. Read more...
Hero Honda Motors will be spending Rs 175 crore on a brand makeover. London-based brand specialist Wolff Olins and advertising agency Law and Kenneth Communications (India) Pvt. Ltd are in charge of the rebranding exercise.
Finally, researchers in Israel found that a good relationship with co-workers can impact mortality risk of the people. According to the study, supportive colleagues can not only make the workday easier but can also help people live longer. Read more...