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Opening Bell 6 June

Opening Bell 6 June
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First Published: Mon, Jun 06 2011. 08 51 AM IST
Updated: Mon, Jun 06 2011. 08 51 AM IST
New Delhi: It will be an eventful week. The Group of Ministers will meet on 9 June to take a decision on fuel price hikes. April industrial production numbers will be released on 10 June. With Anna Hazare threatening to go on a one-day fast, expect the government to concentrate its energies on dousing the growing discontent in civil society. Here’s a list of things to watch out for before trading starts:
Cues from the global markets are not that encouraging. Data from the US labour department confirmed the slowing pace of economic expansion in the world’s largest economy. Total non-farm payrolls in May increased by a partly 54,000 against the street forecast of 160,000-170,000. While the unemployment rate increased to 9.1%, the weak economic data is driving the stock markets around lower. The S&P 500 closed lower by 0.97%. Read more... -
The deteriorating US job market fueled concerns that the global economy is faltering. This led to a weak opening in Asian stock markets with the Nikkei down 0.33%.
CESC is planning to diversify into new infrastructure areas such as roads and ports.The company is likely to bid for NHAI projects on the build-own-operate model.
Expect some action in the Transformers & Rectifiers India stock. The promoters are in talks with prospective buyers to sell a part or majority stake in the company.
Talks between Maruti workers at the Manesar plant and the management will resume today. The 2,500 workers are demanding recognition of a new union and retention of contract labourers. With Maruti’s plants running at 100% capacities, any disturbance may hit production. Read more...
Ceramics major, Hindustan Sanitaryware and Industries entered into an agreement to buy 60% stake in Garden Polymers Pvt Ltd for Rs 89 crore. Garden Polymers manufactures PET bottles, caps and closures. It supplies to customers in liquor, pharmaceuticals and FMCG segments. Read more...
The authorities in Andhra Pradesh have filed a second case against Dr Reddy’s Laboratories over alleged safety-related lapses at its US FDA-certified manufacturing facilities at Bollaram, in Medak district. Two persons died at DRL’s Bollaram plant on 17 March.
Allcargo Global Logistics is planning to develop a special economic zone and free trade warehousing zone in Gujarat’s Kutch district. The company wants to develop the SEZ in partnership with IL&FS.
Rural Electrification Corporation is planning to raise around Rs 7,900 crore through a combination of foreign currency convertible bonds and external commercial borrowings. The company, which is awaiting regulatory approvals, plans to raise the money by November this year.
Finally, more people in the US are praying about their health. According to a survey, 49% of the adults in 2007 said that they had prayed about their health during the previous year. The number is up from 43% in 2002 and 14% in 1999. Read more...
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First Published: Mon, Jun 06 2011. 08 51 AM IST
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