Opening bell 3 June

Opening bell 3 June
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First Published: Fri, Jun 03 2011. 09 17 AM IST
Updated: Fri, Jun 03 2011. 09 17 AM IST
Mumbai: Fears of deepening 2G spectrum probe and Baba Ramdev will most likely lead to policy paralysis. That will weigh on local stocks as well. Here’s a list of things to watch out for before trading starts.
Cues from international markets are not encouraging either. Overnight, stock markets in the US closed weak ahead of the job loss report. The S&P 500 at 1,312 is marginally down by 0.12%.
Meanwhile, Moody’s Investors Service has threatened to put the US’ rating under review for a downgrade unless there is progress on increased debt limit by mid-July. Read more...
Asian markets witnessed a positive opening. Stocks in Japan rose after the Euro strengthened against the Yen. The Nikkei at 9,569 is up 0.15%.
Back home, advisors to the government are making right noises. But will the government heed their advice? Prime Minister’s Economic Advisory Council Chairman C Rangarajan has termed that increasing petroleum prices has become imperative to contain the fiscal deficit at 4.6% of the GDP.
The special court looking into 2G scam dismissed petitions to include chairman Anil Ambani and Tata Sons’ chairman Ratan Tata as accused in the 2G spectrum case. Shares of ADA group firms slumped yesterday on probe fears. Read more...
Havells India is aiming to grow its domestic appliance business to Rs 500 crore in 3-4 years. The company is preparing to launch appliances such as electric irons, juicers, mixers and grinders.
The Bosch Group is looking to invest Rs 2,500 crore in India over the next two years. Bosch Ltd will be using Rs 1,300 crore to set up facilities in Sanand and Goa.
Coal India received 18 tenders from international firms for long-term thermal coal offtake agreements. Based on the price and quantity, Coal India will now shortlist the firms.
The Gujarat State Petroleum Corporation and Russian petroleum firm Gazprom have entered into an agreement for long term gas supplies. According to the agreement, Gazprom will supply LNG of up to 2.5 million tonnes per annum.
The National Housing Bank increased standard assets provisioning on retail home loans from 0.1% to 0.4%. The increased provisioning is likely to impact earnings of the housing finance companies as they need to set aside more money. Read more...
A recent order from environment ministry is likely to impact Coal India’s annual output by as much as 11.5 million tonnes. The order requires the company to obtain forest clearances even in barren areas if another part of the coal block has a forest.
Reliance Infrastructure has decided not to bid for small road projects. With heightened competition leading to low margins, the company has decided to bid for projects only worth Rs 1,500-Rs 2,000 crore or above.
Sticking with Reliance, another senior executive at Reliance Communications has quit. Hasit Shukla, compliance officer and company secretary at Reliance Communications has reportedly put in his papers. According to reports, at least three senior executives have left Reliance Communications since mid-April. Read more...
Finally, how much one should tip the waiter? With most of the restaurants adding service charge to the bill, it has become even trickier for the customers to decide on the tips. Here is an essay that will help you decide on the tip under different circumstances.
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First Published: Fri, Jun 03 2011. 09 17 AM IST
More Topics: Markets update | Asia | Oil | US stocks | Crude |