Mumbai: Cues from the global markets are mixed. While Japanese shares are holding up in the green, South Korean shares declined after consumer prices in the country inched up. Read the Bloomberg report.
Stock markets in the US closed firm on Friday. The S&P 500 gained 0.54% to 1,502 on positive economic data and better than estimated corporate earnings. Read more.
The centre and the states are poised to strike a compromise that will pave the way for the single goods and services tax (GST) regime from the next fiscal year itself, reported Mint. The breakthrough was achieved after an expert panel recommended the blueprint for a compromise in the design of GST.
Foreign institutional investors (FII) are increasing their holding in domestic companies, reported Mint. The average FII holding in 322 companies in the BSE-500 index reached 14.22% for the quarter ending December, the highest in six years.
Keep an eye on the Reliance Industries Ltd (RIL) stock. The company is looking to roll-out 4G data services in June-August this year, reported Business Standard. Meanwhile, some blocks of the KG D6 area have been declared as “No-Go” area by the defence ministry. Read more.
Crisil has downgraded Bharti Airtel Ltd’s debt rating after the government imposed a one-time fee on excess spectrum held by the company. The ratings agency is not expecting the company’s gearing to improve significantly in the near term. Read more.
Jet Airways (India) Ltd stock could witness some action. The airline’s reported move to sell 24% stake to Etihad Airways PJSC for around $300 million, appears to be in the final stages.
Shares of NTPC Ltd could witness some action. The Government might price the NTPC offer-for-sale at a 5-6% discount to the market price, reported Business Standard.
Biocon Ltd is planning to launch a skin disease drug later this year. The company expects the drug to add revenues worth Rs.100 crore in the next four years. Read more.
Ashok Leyland Ltd is planning to raise Rs.500 crore by selling stakes in subsidiaries as well as in IndusInd Bank Ltd, reported Business Standard. According to the report, the company wants to use the funds thus raised to pare some of its debt.
Adani Ports Ltd, Adani Power Ltd, Amara Raja Batteries Ltd, Bank of India Ltd, Financial Technologies Ltd, Neyveli Lignite Corp. Ltd, Neyveli Lignite Ltd, Reliance Infrastructure Ltd and V-Guard Industries Ltd are some of the notable companies that will release their earnings for the December quarter today.