Opening Bell 12 December1 min read . Updated: 12 Dec 2011, 08:38 AM IST
Opening Bell 12 December
Opening Bell 12 December
New Delhi: Troubles for the Congress-led UPA government are far from over. With Anna Hazare back in the fasting mode, the government is increasingly getting isolated.
Meanwhile, the Euro zone’s agreement for deeper economic integration has calmed global equity markets for now. Stock markets in the US rose on Friday after the European leaders agreed to boost the rescue fund and tighten the budget rules. The S&P 500 at 1,255 is up 1.69% on buying in financial services stocks.
Stock markets in Asia also snapped a two-day losing streak. The Japan’s Nikkei at 8,643 is up 1.25% on buying in stocks of export-dependent companies.
Back home, it will be an eventful week for the equity markets. Industrial production data for October will be released on Monday. According to a Bloomberg UTV report, economists are expecting the industrial output to fall to 28-month low of 0.6%.
Meanwhile, high prices, rising interest rates and a gloomy economic outlook are weighing on residential property sales. According to a Business Standard report, in the first six months of the current financial year, residential property sales have fallen by 18-28% in major metros.
Keep an eye on the DLF stock. The company is close to selling its hotel subsidiary for ₹ 550 crore, reports The Economic Times. The company has recently acquired Hilton International’s 26% stake in the hotel subsidiary.
Lupin is aiming to increase its revenues from the Japanese market by about 80% to $300 million in the next two years. The company has recently acquired I’rom Pharmaceuticals in Japan. Read the Business Standard report.
GAIL has signed an agreement to buy 3.5 million metric tonne of liquefied natural gas a year from Cheniere Energy Partners LP for 20 years. The LNG deliveries, expected to start from 2017, will help the company increase volumes and utilisation levels.
Despite rising costs, Manappuram Finance is hopeful of maintaining its net interest margins at around 13% in the current financial year. According to The Economic Times report the company is partially passing-on the higher costs to the customers.
Finally, to increase productivity, Coal India is installing a GPS tracking system in major mines. The project, which is expected to help the company evacuate the coal faster, is estimated to cost ₹ 300 crore. Read the Business Standard report.