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Opening Bell 18 July

Opening Bell 18 July
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First Published: Mon, Jul 18 2011. 09 22 AM IST
Updated: Mon, Jul 18 2011. 09 22 AM IST
New Delhi: The Goods and Services Tax bill is finally gathering momentum. The BJP has reportedly given green signal to appoint Bihar Deputy Chief Minister Sushil Kumar Modi as head of the GST panel. Read more... Any positive movement on the bill will be boost to reform process. Here’s a list of other things to watch out for before trading starts.
It is going to be a results heavy week for Indian stock markets. Biggies HDFC Bank, Compton Greaves, Wipro, Dr Reddy’s Laboratories, Hero Honda and Axis Bank will declare their June quarter earnings.
Cues from the international markets are mixed. European banks’ stress tests failed to allay investor concerns. According to analysts, as many as 20 banks need to bolster their capital.
While the European debt crisis continue to weigh on investors’ mind, stock markets in Asia fell on reports of weak consumer confidence numbers from the US. The weak economic data sparked selling in stocks of exporters like Samsung Electronics.
Back home, Sebi is seeking more disclosures on participatory notes. The regulator wants foreign institutional investors to name upfront the beneficiaries of participatory notes and other offshore derivative instruments. The move is expected to make FII transactions more transparent. Read more...-
Reliance Infrastructure has reportedly tied up the entire debt of Rs 2,000 crore for Mumbai’s Worli-Haji Ali sea link. However, the project is estimated to be delayed by another 2-3 months because of pending issues with state authorities.
Axis Bank’s proposed acquisition of Enam Securities’ equities and investment banking businesses has come under the regulator’s lens. The Reserve Bank of India has reportedly directed the bank to revise the deal structure. The regulatory diktat has forced the bank to miss the first date to close the deal.
Maruti Suzuki’s union troubles are far from over. In a clear sign of growing discontent, workers at Maruti Suzuki India’s Manesar plant have boycotted the union election of the company held on Saturday.
The fall in KG Basin gas production is feared to have wider ramifications. Indian Oil Corporation has reportedly warned the government that reduction in gas supplies from Reliance Industries’ Andhra Pradesh offshore field may spark shortage of diesel and force imports to bridge the gap. Read more...
Finally, a new study has found that widespread use of internet is impacting users memory. The notion that the required data or information can be found online is making people remember less and is increasing their dependency on search engines. Read more...
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First Published: Mon, Jul 18 2011. 09 22 AM IST
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