3165

Opening Bell 25 Feb | Eye on the Union budget

Asian markets were trading higher on Monday morning following firm global cues
Comment E-mail Print Share
First Published: Mon, Feb 25 2013. 07 59 AM IST
A file photo of BSE building in Mumbai. Photo: Hemant Mishra/Mint
A file photo of BSE building in Mumbai. Photo: Hemant Mishra/Mint
Updated: Mon, Feb 25 2013. 08 04 AM IST
Mumbai: All eyes are on the budget for the next fiscal year, which will be presented in Parliament on Thursday. Expectations are high that the finance minister will curb the fiscal deficit since the government has shown some political will by taking uncomfortable decisions such as increasing railway fares and raising diesel prices.
US markets ended higher on Friday after better-than-expected results from Hewlett-Packard and upbeat reports on German business confidence. The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite rose around 1% each, reported MarketWatch.
Moody’s stripped the United Kingdom of its triple-A credit rating on Friday, predicting economic weakness will weigh on public finances for years to come, reported the Wall Street Journal.
Asia markets were trading higher on Monday morning following firm global cues, with the Japanese markets up 2% following the appointment of a new governor at Bank of Japan. Hong Kong’s Hang Seng gained 0.1% while China’s Shanghai Composite was up 1%, shrugging off slower manufacturing activity in February.
In India, non-banking finance companies will be in the focus after the Reserve Bank of India released new rules on Friday that will allow private, state-run and non-bank finance firms to apply for a bank licence by 1 July.
Bharti Airtel Ltd and Tata Communications Ltd may see some action after the Central Bureau of Investigation pressed charges against them for causing a loss to the national exchequer by entering an agreement with a Singapore telecom firm for international calls, violating norms laid by the department of telecom, reported Mint.
India may soon have 14 domestic hedge funds managing $1 billion in funds after Securities and Exchange Board of India last year allowed setting up of such high-risk investment vehicles, reported Mint.
Strides Arcolab will be on the buzzer following a Business Standard report that it is in talks with Japan-based, Otsuka Holdings to sell its division, Agila Specialties, worth Rs.4,885 crore.
Essar Energy Plc wants ONGC to quit the Cambay basin joint venture in Gujarat to have greater operational freedom and develop the block, reported Business Standard.
Reliance Power Ltd will be in focus as it is planning to fire the first unit of its 4,000 megawatts Sasan plant in Madhya Pradesh this week, reported Economic Times. The electricity generated will be sold at Rs.1.19 per unit, the lowest price in India.
Lastly, Lashkar-e-Taiba has claimed responsibility for the Hyderabad bomb blast. The blasts at the Dilsukhnagar neighbourhood in Hyderabad killed 16 people and injured another 117 last week.
Comment E-mail Print Share
First Published: Mon, Feb 25 2013. 07 59 AM IST
More Topics: Sensex | Asian shares | Union budget | US markets | RBI |
blog comments powered by Disqus
  • Wed, Aug 27 2014. 05 55 PM
  • Wed, Aug 20 2014. 07 26 PM
ALSO READ close

Sensex reverses loses to close marginally higher at 26,442.81

Subscribe |  Contact Us  |  mint Code  |  Privacy policy  |  Terms of Use  |  Advertising  |  Mint Apps  |  About HT Media  |  Jobs
Contact Us
Copyright © 2014 HT Media All Rights Reserved