Opening bell, 05 March | Poll results to influence week

Opening bell, 05 March | Poll results to influence week
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First Published: Mon, Mar 05 2012. 08 30 AM IST

Updated: Mon, Mar 05 2012. 08 30 AM IST
Exit polls “should best be on entertainment channels,” feels the chief election commissioner S.Y Quraishi. With the month long assembly elections coming to an end, political parties and exit polls are trying their best to gauge the poll outcome. While the results will be known tomorrow, a positive outcome for the ruling UPA would help the government push through some tough decisions in coming budget.
Cues from global markets are mixed. Stock markets in Asia slipped in opening deals as investors awaited more data confirming the economic recovery. Japan’s Nikkei is down 0.17% on selling in metals and energy stocks.
US markets closed marginally lower on Friday. Falling crude prices have led to selling in energy stocks. S&P 500 at 1,369 closed lost 0.32%.
Brent crude rates, meanwhile, fell to $123.81 a barrel on easing supply concerns from Saudi Arabia. Israel prime minister Benjamin Netanyahu will be meeting the U.S. president Barack Obama for talks on Iran’s nuclear program.
Back home, Raymond Apparel, a subsidiary of Raymond, is in talks with a private equity firm to raise Rs 750 crore, reports The Economic Times. The private equity firm is reportedly looking to buy a minority stake in Raymond Apparel.
Suzlon Energy is hoping to meet its debt obligations by selling assets. The company which needs to repay Rs 3,000 crore debt between June and October, is looking to sell land and wind farms.
Keep an eye on Reliance Power stock. According to The Times of India, the comptroller and auditor general has accepted the power ministry’s argument that the provision of diverting the surplus coal is part of the “original bid documents.”
Firm prices are encouraging cement companies add new capacities. According to The Hindu Business Line, over the next three years, ACC is planning to increase its cement capacity in east India by five million tonnes.
Shutdown rumours are swirling around Kingfisher Airlines. While the management is denying the rumours, tax authorities have seized the airline’s accounts once again. Also the airline’s pilots are threatening to agitate if they are not paid outstanding salaries by 12 March.
Mahindra & Mahindra is planning to launch five new models in the coming months. A mini-van and sports utility vehicle from SsangYong are among the models the company is planning to launch, accordinmg to a Business Standard report.
Finally, here is an interesting profile by The Guardian on Imran Khan. Khan, who turns 60 this year, believes that “a huge change” is coming to Pakistan.
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First Published: Mon, Mar 05 2012. 08 30 AM IST
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