Opening bell 4 April

Opening bell 4 April

Mumbai: World Cup Champions. No more need be said. But here’s a list of things to watch out for before trading starts.

The unemployment rate in the US fell unexpectedly to two year low of 8.8% in March as more jobs were created. This helped the US markets end the week with gains. The S&P 500 gained 0.5% and closed at 1,332 on Friday.

The robust growth in the US job market lifted sentiment in Asian stocks as well. Asian stocks, led by Japan, opened with gains as investors bought shares of the companies that derive substantial revenues from the US. The Nikkei is up 0.7%.

However, a stronger US economy might not be good news for the energy markets. Crude oil prices are again trending up on expectations that demand for fuel and crude oil might increase. Brent crude oil in Singapore market is trading $0.67 higher at $119.37 a barrel.

Back home, Bhel will announce its fourth quarter provisional numbers today. Order book numbers and management’s views on fiscal 2011-12 are the key things to watch-out for.

Another downgrade has come in. Credit rating agency Fitch has cut its growth projection for India to 8.3% in 2011-12. The agency has earlier projected the economy to grow at 8.5%.

BGR Energy has tied up funds to set up a super critical boiler and turbine manufacturing facility in Tamil Nadu. The company has got an in-principle loan approval from two banks for 3,080 crore.

Crompton Greaves might be looking to acquire an energy firm based in Switzerland. The Swiss firm’s products include smart meters which help increase energy savings.

Home loan growth in February remained flat. Banks lent 15.2% more in February, almost equal to 15.1% growth in January. High real estate prices and increasing interest rates are said to be holding back people from buying new homes.

Temasek Holdings is in talks with TPG Capital to buy its stake in Shriram Transport Finance Company. TPG has a 20% stake in Shriram Transport Finance and has appointed an investment bank to help exit the investment.

JSW Steel has revived its plans to list on the London Stock Exchange. The company is planning to bring its overseas assets under one roof and go for a share sale.

Jindal Saw has run into green activists. A PIL alleges the company started some construction activities without mandatory approvals.

State owned aluminium producer Nalco registered record sales and production levels in 2010-11. The company has achieved highest ever cast metal production of 4.43 lakh tonnes.

GMR Group is in talks to set up an engine MRO facility in Hyderabad. The company is in talks with aircraft engine manufacturers to set up the facility.

The government is expected to a conditional nod to the Cairn-Vedanta deal on Wednesday. The issue is listed in the Wednesday agenda of Cabinet Committee on Economic Affairs. Read more...

Hindustan National Glass and Industries is looking to make an overseas acquisition worth 200-400 crore in the pharmaceuticals space.

And finally, a dog that was swept away to sea three weeks ago by tsunami in Japan was rescued by the cost guard. Never give up hope! Read more...