Flat-to-positive opening seen on mixed Asian cues

After an extended weekend, benchmarks are likely to see a flat-to-positive mirroring mixed trend in the Asian peers and firm closing on the Wall Street on Friday on account of an upward revision in US economic growth in the fourth quarter.

GLOBAL MARKET

The dollar remained firm and Asian stocks edged higher on Monday after fairly strong consumer spending led to an upward revision in U.S. economic growth in the fourth quarter, helping to underpin investor sentiment.

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Japan's Nikkei .N225 gained 0.8 percent while U.S. stock futures ESc1 ticked up 0.2 percent in early Asian trade, though it is still slightly down on the quarter.

Share markets in Australia, New Zealand and Hong Kong were closed for holidays, leaving MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS little moved in early trade.

U.S. gross domestic product increased at a 1.4 percent annual rate in Oct-Dec, above the previously reported 1.0 percent pace, the third GDP estimate showed on Friday.

CORPORATE NEWS

Tata Motors has secured a follow-on contract from the Indian Army to supply 619 units of its high-mobility vehicle (HMV) 6X6 multi-axle truck, said a media report. 

Adani Group has offered 49% in its Rs 5,000-crore Dhamra LNG project in Odisha to staterun gas utility GAIL India and refiner Indian Oil Corporation. 

Natco Pharma on Sunday said it has received "minor" observations by US Food & Drug Administration (USFDA) following recent inspections at its two facilities and they will not have an adverse impact on its current or future products.

At least 18,000 jobs in the UK may become redundant if Tata Steel decide to ditch two of their loss making plants at a board meeting on Tuesday.

A section of officers and employees of IDBI Bank are going on strike from Monday to protest against the government's plan to pare its stake in the lender.

Sterlite Technologies, founded by Anil Agarwal of Vedanta Group, is among the early companies to have bagged a smart city project. Sterlite, said senior official of the company, has bagged contract from Gandhinagar.

With Reuters inputs