Market may open slightly higher

Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 11 points at the opening bell. The government will unveil data on the consumer price index of rural and urban India for April 2013 today, 13 May 2013. The combined consumer price inflation for rural and urban India stood at 10.39% in March 2013, lower than 10.91% in February 2013.

Bank of Baroda unveils Q4 results today, 13 May 2013.

DLF on Saturday, 11 May 2013, said that the equity issuance committee of the board of directors of the company in its meeting held on 11 May 2013 has finalised 14 May 2013 as the issue opening and closing date for the proposed issue of up to 8.1 crore shares to eligible qualified institutional buyers. The floor price for the qualified institutional placement has been finalised at Rs 222 per equity share, with price band of Rs 222 to Rs 233 per share. The announcement was made after market hours on Saturday, 11 May 2013, when the stock exchanges held a special trading session for a short duration as the BSE was testing its disaster recovery software.

Siemens said on Saturday, 11 May 2013, that the company has fixed 15 May 2013, as the record date for the purpose of determining the members of Winergy Drive Systems India to whom the equity shares will be issued and allotted by the company consequent upon the amalgamation of Winergy Drive Systems with the company with effect from 31 March 2013.

Dena Bank's net profit declined 50.67% to Rs 125.67 crore on 17.23% growth in total income to Rs 2539.74 crore in Q4 March 2013 over Q4 March 2012. Net profit rose 0.9% to Rs 810.38 crore on 29.53% growth in total income to Rs 9554.85 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). The result was announced after market hours on Saturday, 11 May 2013.

Dena Bank's ratio of gross non-performing assets (NPAs) to gross advances increased to 2.19% as on 31 March 2013, from 2.09% as on 31 December 2012 and 1.67% as on 31 March 2012. The ratio of net NPAs to net advances increased to 1.39% as on 31 March 2013, from 1.31% as on 31 December 2012 and 1.01% as on 31 March 2012.

Dena Bank's capital adequacy ratio (CAR) as per Basel II norms stood at 11.03% as on 31 March 2013, as against 11.47% as on 31 December 2012 and 11.51% as on 31 March 2012.

Dena Bank's provision and contingencies rose 17.46% to Rs 341.95 crore in Q4 March 2013 over Q4 March 2012. The bank's provision coverage ratio stood at 69.58% as on 31 March 2013.

Dena Bank raised Rs 850 crore by way of subordinated debts for Tier II capital during FY 2013.

Dena Bank's board of directors at a meeting held on Saturday, 11 May 2013, proposed dividend of Rs 4.70 per share for FY 2013.

Key benchmark indices settled slightly higher during a special trading session conducted by the stock exchanges on Saturday, 11 May 2013. The S&P BSE Sensex advanced 39.70 points or 0.2% to 20,122.32 on that day, its highest closing level since 6 January 2011.

Foreign institutional investors (FIIs) sold shares worth a net Rs 1.77 crore on Saturday, 11 May 2013, as per provisional data from the stock exchanges.

The focus of the market is on Q4 results. Dr Reddy's Laboratories and Reliance Infrastructure unveil Q4 results tomorrow, 14 May 2013. Bajaj Auto announces Q4 results on Thursday, 16 May 2013. ITC unveils Q4 results on Friday, 17 May 2013. Coal India unveils standalone FY 2013 results on 20 May 2013. L&T unveils Q4 results on 22 May 2013. Bharat Heavy Electricals (Bhel) announces Q4 results on 23 May 2013. Coal India unveils consolidated FY 2013 results on 27 May 2013. GAIL (India) and Hindalco Industries unveil Q4 results on 28 May 2013. BPCL announces Q4 results on 29 May 2013. M&M and Tata Power unveil Q4 results on 30 May 2013.

The government will unveil data on the wholesale price index (WPI) for April 2013 tomorrow, 14 May 2013. WPI eased to the lowest level in 40 months at 5.96% in March 2013, and sharply lower than 6.84% in February 2013.

Asian stocks edged lower on Monday. Key benchmark indices in China, Hong Kong, Indonesia, Singapore, Taiwan and South Korea fell by 0.03% to 0.9%.

Japanese stocks on Monday jumped to their highest level in more than five years, boosted by an improved profit outlook and further yen weakness after the Group of Seven major economies refrained from criticizing Tokyo's easing policies. The Nikkei Average rose 1.58%.

China is set to unveil data on industrial production and retail sales for April 2013 today, 13 May 2013.

Meanwhile, the US Federal Reserve has reportedly mapped out a strategy for winding down its $85 billion-a-month bond-buying program. As per reports, the Fed intends to clarify the strategy so that the financial markets don't overreact to the Fed's announcements in this regard.

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