Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 26 February 2015. The market may remain volatile today, 26 February 2015, as traders roll over positions in the futures & options (F&O) segment from the near month February 2015 series to March 2015 series. The near month February 2015 derivatives contracts expire today, 26 February 2015. The key event to watch out for today, 26 February 2015 is the Railway Budget 2015-16.
Shares of companies whose fortunes are linked to orders from Indian railways will be in focus as the Railway Budget 2015-16 will be tabled in the parliament by the rail minister Suresh Prabhu today, 26 February 2015. According to media reports, the fall in diesel prices and a pick-up in freight earnings have given the Railways an opportunity to embark on rail investment splurge.
Shares of Bharti Airtel and Bharti Infratel will be in focus after Bharti Airtel before market hours today, 26 February 2015 said that the company has decided to sell up to 5.5 crore equity shares (with an upsize option of up to 1.75 crore additional equity shares) of its subsidiary company Bharti Infratel today, 26 February 2015 through stock exchanges. The transaction is subject to market conditions. The company will provide further updates, as necessary, upon consummation of the transaction, Bharti Airtel said.
NTPC said that its board has accorded the investment approval for the Khargone Super Thermal Power Project (2x660 megawatts) in Madhya Pradesh at an appraised current estimated cost of Rs 9870.51 crore, subject to Environment Clearance of Ministry of Environment and Forests.
Further, the board has also accorded approval to the proposal for NTPC's commitment to Government of India for setting up 10000 megawatts of renewable energy projects during the next five years, NTPC said in a statement.
Also, the Union Cabinet yesterday, 25 February 2015 gave its approval for the implementation of the scheme for setting up of 15,000 megawatt (MW) of Grid-connected Solar PV Power projects under the National Solar Mission through NTPC/ NTPC Vidyut Vyapar Nigam (NVVN) in three tranches namely, 3000 MW under tranche-1 under mechanism of bundling with unallocated coal based thermal power and fixed levellised tariffs, 5,000 MW under tranche-II with some support from government to be decided after getting some experience while implementing tranche-1 and balance 7,000 MW under tranche-III without any financial support from the government.
Yes Bank said after market hours yesterday, 25 February 2015, it has successfully issued India's first ever Green Infrastructure Bonds raising an amount of Rs 1000 crore. The issue launched on 16 February 2015 for Rs 500 crore plus green shoe option witnessed strong demand from leading investors including insurance companies, pension & provident funds, foreign portfolio investors, new pension schemes and mutual funds, resulting in a total subscription of Rs 1000 crore and was closed on 24 February 2015. The bonds are for a tenor of 10 years.
Also Read
The amount raised will be used to finance Green Infrastructure Projects in Renewable Energy including Solar Power, Wind Power, Biomass, and Small Hydel Projects.
Power distribution companies supplying power to Delhi will be in focus after the AAP government yesterday, 25 February 2015, announced halving power tariffs for families consuming up to 400 units a month. The power subsidy will be effective from next month and is expected to cost the state government Rs 70 crore in March and Rs 1427 crore in the fiscal year ending 31 March 2016 (FY 2016).
Castrol India's net profit rose 4.60% to Rs 132 crore on 4% increase in total income to Rs 870.10 crore in Q4 December 2014 over Q4 December 2013. Net profit fell 6.70% to Rs 474.50 crore on 5.43% increase in total income to Rs 3440.40 crore in the year ended December 2014 over the year ended December 2013.
After remaining firm until afternoon trade, key benchmark indices lost ground later and settled near the flat line at close yesterday, 25 February 2015. The S&P BSE Sensex rose 3.33 points or 0.01% to settle at 29,007.99, its highest closing level since 20 February 2015.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 516.06 crore yesterday, 25 February 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 19.70 crore yesterday, 25 February 2015, as per provisional data.
Meanwhile, the stock exchanges have decided to keep the stock market open on Saturday, 28 February 2015, just like any other normal trading session when the Finance Minister Arun Jaitley presents the first full-fledged Budget of the Narendra Modi government. Trading will start at 9:15 IST and conclude at 15:30 IST. Jaitley will begin his speech at 11:00 IST in Lok Sabha on 28 February 2015 as he tables the Union Budget 2015-16 in the parliament.
The speech of the Railway minister today, 26 February 2015 will be closely watched for clues on the tone and thrust of the Union Budget on Saturday, 28 February 2015. This will be the first full railway budget of the Narendra Modi government and hopes are already running high that the document will contain innovative and out-of-the-box plans to turnaround railways and modernise the network and its supporting infrastructure. The Economic Survey will be tabled in parliament tomorrow, 27 February 2015.
The key event for the financial markets is Union Budget for 2015-16. Finance Minister Arun Jaitley will present Union Budget 2015-16 in Parliament on Saturday, 28 February 2015. Analysts will scrutinize measures in the Budget for financing infrastructure projects as well as the government's own capital expenditure on infrastructure for the year ahead. This is the first full fledged Budget of the Narendra Modi government and analysts will look for a roadmap for economic growth for the next few years.
Changes in rates of dividend distribution tax, capital gains tax on sale of shares, Securities Transaction Tax (STT) and Minimum Alternate Tax (MAT), if any, will be closely watched. The dividend distribution tax is currently at 15%. The minimum alternate tax is currently at 18.5% of book profits. Short term capital gains tax on sale of shares is currently at 15% while there is zero long capital gains tax on sale of shares held for a period of more than one year.
Analysts are awaiting further progress on the Goods and Services Tax (GST) during the ongoing Budget session of Parliament after the Constitution Amendment Bill for the introduction of GST was tabled in the Lok Sabha during the winter session of parliament. GST, touted as the single biggest indirect taxation reforms since independence, will simplify and harmonise the indirect tax regime in the country. Central taxes like Central Excise Duty, Additional Excise Duties, Service Tax, Additional Customs Duty (CVD) and Special Additional Duty of Customs (SAD), etc. will be subsumed in GST. At the state level, taxes like VAT/Sales Tax, Central Sales Tax, Entertainment Tax, Octroi and Entry Tax, Purchase Tax and Luxury Tax, etc. would be subsumed in GST.
Asian stocks edged lower today, 26 February 2015. Key benchmark indices in Singapore, Taiwan, Hong Kong, Indonesia and South Korea fell by 0.08% to 0.82%. China's Shanghai Composite index rose 0.05%. Japan's Nikkei 225 index rose 0.51%.
US stocks saw mixed trend yesterday, 25 February 2015 as declines in Hewlett-Packard Co. and Apple Inc. offset gains among retailers amid corporate earnings.
Federal Reserve Chairwoman Janet Yellen repeated in her second day of testimony to US lawmakers yesterday, 25 February 2015 that normalization of interest rates will begin when the Federal Open Market Committee is confident that inflation is on track to hit the central bank's inflation target of 2% growth.
In economic data, new homes in the US sold at a faster pace than forecast in January despite snow storms in the Northeast in the country, a sign of stabilization in the housing industry, data released yesterday, 25 February 2015 showed.
In Europe, Greece said yesterday, 25 February 2015 it will struggle to make debt repayments to the IMF and the European Central Bank this year as Germany's finance minister voiced open doubts about Athens' trustworthiness. Eurozone finance ministers on Tuesday, 24 February 2015, backed new reforms proposed by Greece in exchange for a four-month financial lifeline that will keep the country afloat and in the single currency for the time being. Several parliaments, including Germany's, must now approve the extension before the current bailout expires on Saturday, 28 February 2015.
Powered by Capital Market - Live News