Trading of Nifty 50 index futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 12 August 2016. Among macro economic data, the government will announce data on industrial production for June 2016 today, 12 August 2016. The government will also declare the inflation data based on the consumer price index (CPI) for July 2016.
In overseas stock markets, most Asia stocks rose, following record high finishes in US markets. US stocks closed higher yesterday, 11 August 2016 with the three major indices -the Dow Jones Industrial Average, the Nasdaq Composite index and the S&P 500 index, closing at record highs, amid sharp gains in crude oil prices and strong quarterly results from retailers.
Closer home, foreign portfolio investors (FPIs) bought shares worth a net Rs 608.35 crore yesterday, 11 August 2016, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 621.65 crore yesterday, 11 August 2016, as per provisional data.
Among macro economic data, the government will announce data on industrial production for June 2016 today, 12 August 2016. India's industrial production (IIP) increased 1.2% in May 2016 over May 2015. The government will also declare inflation data based on the consumer price index (CPI) for July 2016. CPI inflation accelerated to 5.77% in June 2016 from 5.76% in May 2016.
Among key corporate earnings, Sun Pharmaceutical Industries, Bosch and Hindalco Industries are scheduled to announce their June quarter earnings today, 12 August 2016.
Bharti Airtel said after market hours yesterday, 11 August 2016 that the transaction to acquire rights to use 20 megahertz (MHz) 2300 Band 4G TD spectrum of Aircel has been successfully concluded for Orissa circle following the receipt of all necessary approvals and satisfying all the conditions (including conditions stated in the Spectrum Trading Guidelines). With this, the company has completed the transaction in 7 out of 8 circles namely Tamil Nadu (including Chennai); Bihar, Jammu & Kashmir, West Bengal, Assam, North East and Orissa. Bharti Airtel in April this year said it had acquired rights to use 4G spectrum of Aircel in eight telecom circles.
Grasim Industries' consolidated net profit surged 63.55% to Rs 830.22 crore on 9.16% growth in total income to Rs 9278.13 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016. Meanwhile, Grasim Industries' board of directors at a meeting held yesterday, 11 August 2016, approved 5-for-1 stock split.
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Aditya Birla Nuvo's (ABNL) consolidated net profit declined 56.79% to Rs 305.15 crore on 1.62% growth in total income to Rs 3318.68 crore in Q1 June 2016 over Q1 June 2015. The result was announced after market hours yesterday, 11 August 2016.
Meanwhile, in seperate announcements, Grasim Industries and Aditya Birla Nuvo said that the board of directors of the companies have considered and approved a composite scheme of arrangement between Grasim Industries, Aditya Birla Nuvo and Aditya Birla Financial Services and their respective shareholders. The announcement was made after market hours yesterday, 11 August 2016.
Siemens turns ex-dividend today, 12 August 2016 for interim dividend of Rs 27.50 per share for the year ending 30 September 2016 (FY 2016).
S. P. Apparels (SPAL) makes its debut on the secondary equity markets today, 12 August 2016. The company had priced its initial public offer (IPO) at Rs 268 per share, the top end of the Rs 258-268 per share price band for the IPO. SPAL is a leading manufacturer and exporter of knitted garments for infants and children. From the proceeds of the fresh issue, SPAL has earmarked Rs 70 crore towards expansion and modernization of manufacturing facility at Tamil Nadu, Rs 63 crore towards repayment of debt, Rs 27.85 crore towards opening of new stores for sale of Crocodile brand, Rs 4.90 crore towards balancing machinery for existing dyeing unit in Perundurai and rest towards for general corporate purpose. SPAL's consolidated profit after tax (PAT) jumped 245% to Rs 34.71 crore on 13% growth in net sales to Rs 532.83 in the year ended 31 March 2016 (FY 2016) over the year ended 31 March 2015 (FY 2015).
Meanwhile, the India Meteorological Department (IMD) in its weekly monsoon update issued yesterday, 11 August 2016 said that for the country as a whole, cumulative rainfall during this year's monsoon season so far from 1 June to 10 August was 3% above the long period average (LPA).
Key benchmark indices registered small to modest gains yesterday, 11 August 2016 after seeing intraday volatility. The Sensex rose 84.72 points or 0.31% to settle at 27,859.60, its highest closing level since 9 August 2016.
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