Opening Bell 21 April2 min read . Updated: 21 Apr 2011, 11:24 AM IST
Opening Bell 21 April
Opening Bell 21 April
New Delhi: After Infosys, most big company results are better-than-expected. Will the trend continue? Here’s a list of things to watch out for before trading starts.
Overnight, US stocks rallied after Intel’s revenue forecasts exceeded expectations. The S&P 500 surged 1.35% to 1,330.
The positive earnings outlook from Intel and Apple revived sentiment in Asian stocks. Stocks of commodities and electronics makers gained as strong earnings outlook signalled an accelerating global economy. The Nikkei is up 0.50%.
Meanwhile in India, five executives belonging to three companies have been sent to jail for their role in the 2G spectrum-related scam. The executives belong to the Reliance (Anil Ambani) Group, DB Realty and Unitech Wireless. Read more...
Unitech’s MD Sanjay Chandra is among those arrested. While Unitech is putting up a brave face, analysts are concerned that the arrests might impact the real estate business in the short term. Read more...
Jyothy Laboratories might rope-in a private equity investor to fund its acquisition of Henkel India. The company is reportedly in talks to sell a 10% stake for $100 million. Read more...
Jindal Steel and Power is making a second attempt to buy Australian coal miner Rocklands Richfield. (Read more) The company has launched an open offer to acquire shares in the company. Rocklands is reported to have high grade coking deposits in Queensland and a coking coal plant in eastern China.
International Paper Company, which is buying 53.5% stake in AP Paper Mills is planning to invest ₹ 1,500 crore for expanding the factory near Rajahmundry. Read more...
Yes Bank is looking to raise equity of up to $500 million in the current financial year. The bank wants to raise the funds through issuance of ADRs or GDRs or qualified institutional placements. The bank also declared its March quarter results. Read Mint’s review of the results.
HCL Technologies reported a strong set of numbers. The company reported a 33% year-on-year rise in net profits to ₹ 468 crore. While operating margins expanded 100 basis points, the better than expected results led to a rally in the stock on Wednesday. Read Mint’s review of the results.
Meanwhile, ING Vysya Bank reported a 34% rise in net profit to ₹ 91.3 crore in the March quarter. High fee income growth and low provisioning costs helped the bank register smart growth in profits.
State-owned rail container operator Concor is planning to invest ₹ 700 towards capacity expansion. The company wants to invest money in setting up new logistics parks, terminals and fleet expansion.
Reliance Industries, TCS, Nestle India, Jindal Steel, Noida Toll Bridge, Hindustan Zinc and MindTree will declare their March quarter results today.
Analysts at Deutsche Bank expect Reliance to report gross refining margins of $9.8-$9.9 a barrel in fourth quarter. The company might report 21% YoY net profit increase to ₹ 5,700 crore. KG D6 gas production numbers and the company’s comments on the production problems in the gas fields will be keenly tracked. Read for street expectations.
And finally, Does the stimulation of hunger make one more intelligent or receptive to more information? Researchers at Yale Medical School have done a study on mice to understand the equation. They found the ‘biochemically hungry’ mice to be receptive to more information than the ones with normal levels of hormone.