×
Home Companies Industry Politics Money Opinion LoungeMultimedia Science Education Sports TechnologyConsumerSpecialsMint on Sunday
×

Opening Bell 14 June

Opening Bell 14 June
Comment E-mail Print Share
First Published: Tue, Jun 14 2011. 03 30 AM IST
Updated: Tue, Jun 14 2011. 12 33 PM IST
The Wholesale Price Index data for May will be released today. The number will not only be keenly tracked by the markets but also by policy makers. Usually, the number might not have this much significance except for the RBI policy meet on Thursday. Here’s a list of other things to watch out for before trading starts.
Cues from the global markets are encouraging. After a weekend rout, stock markets across the world recovered on Monday. Stocks in the US rebounded as a pickup in takeovers and cheap valuations helped offset investors’ concerns about a slowdown in the economy. The S&P 500 gained 0.07% to close at 1,271. (Read more)
Asian markets too opened on a positive note. Stock markets in Japan gained on buying in stocks of power utilities. The Nikkei at 9,472 is up 0.26%. (Read more)
Brent crude fell for the third consecutive day on speculation that a faltering global economy will reduce demand for fuel. Brent crude at $118.59 a barrel is down $0.54. (Read More)
Back home, there is a bit of good news for exporters. Government has decided to extend the Duty Entitlement Pass Book scheme by extending its validity till September 30. In the meantime, the government wants to work out a mechanism that would ensure smooth transition from DEPB to duty drawback scheme. (Read more)
The CAG reports are back. This time the auditor has rapped the oil ministry and DGH for allegedly favouring Reliance Industries by allowing it to increase KG-D6 gas field’s cost. CAG also pulled up the ministry for going out of its way to grant over 856 sq km of additional area to Cairn India adjacent to its oil discovery in Rajasthan block. (Read more )
Larsen & Toubro is aiming at 20% average annual growth in its electrical and automation business over the next five years. (Read more)
Citigroup is likely to reduce its stake in HDFC to below 10%. Citi currently holds a 11.38% stake in HDFC. The estimated size of the stake that Citi plans to reduce is $260-300 million. (Read more)
Idea Cellular reported better than expected March quarter earnings. The company reported a 3% rise in profits to Rs 275 crore. While YoY revenues grew 26.5%, the company reported a 3% fall in realised rate per minute from earlier quarter. (Read more)
With the new management discontinuing popular teaser loans, State Bank of India’s loan book is witnessing a steady deceleration in growth. The April loan book growth has fallen by 28% from the average growth per month seen in last financial year. (Read more)
Finally, under stress from work pressure, officials at the enforcement directorate are leaving the investigative agency for greener pastures. At least 10 officers have left the agency in the past three months. Among other things, the agency is probing alleged wrongdoings in 2G spectrum scam and an Rs 36,000 crore money laundering case against Hasan Ali Khan. Read more to find out the kind of problems officers probing graft face. (Read more)
Comment E-mail Print Share
First Published: Tue, Jun 14 2011. 03 30 AM IST
More Topics: Opening Bell | Markets | RBI | Inflation | Stocks |