 "Markets may start the New Year on a mute note")
Despite a strong finish on the last day of calendar year 2015, Indian equity markets are expected to open the first day of the New Year 2016 on a mute note amid lack of concrete cues. The early indicator SGX Nifty is trading 0.35% down.
On Thursday, the S&P BSE Sensex ended higher 158 points at 26,118 while Nifty50 settled 4 points shy of 7,950 at 7,946.
The combined output of eight crucial infrastructure sectors contracted by 1.3% in November, pulled down by a steep fall in steel production. This could prove as a dampener on the sentiment across the bourses.
Besides, most Asian markets are closed today on account of the first day of the New Year while European and American markets ended lower yesterday thus weighing on the markets.
Globally, activity in China's manufacturing sector contracted for a fifth straight month in December, an official survey showed on Friday, reinforcing fears the world's second-largest economy may be stuck in a protracted slowdown despite a flurry of stimulus measures.
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Petronet LNG, Gail (India): In a major relief for Petronet LNG Ltd (PLL), India's largest natural gas importer, its LNG supplier RasGas of Qatar today signed a modified long-term agreement helping PLL avoid Rs 12,000 crore penalty for the shortfall in gas offtake. Shares of Gail (India) could also see movement post the news.
HDFC: Mortgage lender HDFC Ltd today said it has recorded 50 per cent decline in profit on sale of investment to Rs 57 crore for the quarter ended December.
Oil Marketing Companies (OMCs): Oil Marketing Companies (OMCs) have slashed prices of petrol by 63 paise per litre along with a Rs 1.06 per liter cut in diesel prices in order to align the domestic rates with global price trends.
United Spirits: The company said erosion of net worth were due to certain exceptional and non-recurring items.
Videocon Industries: Videocon Industries said that it fully redeemed $194.40 million (about Rs 1,290 crore) foreign currency convertible bonds (FCCBs) through a combination of cash payout and fresh FCCBs.
Orchid Pharma: Orchid Pharma has announced that it had received favourable inspection report from US Food and Drug Administration (FDA) for its manufacturing facility near Chennai.
IDBI Bank: Public sector lender IDBI Bank today said it will raise Rs 3,771 crore during the year by way of qualified institutional placement (QIP).
Bharti Airtel: Telecom major Bharti Airtel today said it has acquired the balance 26% stake in Augere Wireless, which holds 4G spectrum in Madhya Pradesh, making it a wholly-owned subsidiary of the company.