Metal stocks may gain as China's trade surplus widened last month to the largest in more than four years as exports exceeded estimates. China's inflation slowed more than estimated last month, after data on Sunday, 8 December 2013, showed export growth helped swell the nation's trade surplus to $33.8 billion, the widest since January 2009. The consumer-price index rose 3% from a year earlier, the National Bureau of Statistics said today in Beijing.
China's trade surplus widened last month to the largest in more than four years as exports exceeded estimates. The surplus of $33.8 billion was the biggest since January 2009, data from the General Administration of Customs showed yesterday in Beijing. Outbound shipments rose 12.7% from a year earlier, while import gained 5.3%. China is the world's largest consumer of copper and aluminum.
Sugar stocks will be in focus after agriculture minister Sharad Pawar on Friday, 6 December 2013, announced a slew of recommendations for the sugar sector. According to media reports, an informal panel of ministers headed by Pawar recommended a 12% interest subsidy on Rs 7200 crore loans for sugar mills to pay cane farmers, restructuring of loans under the Reserve Bank of India (RBI) guidelines, doubling the mandatory blending of ethanol in petrol to 10% and a possibility to increase import duty on sugar. Prime Minister Manmohan Singh had appointed the group of ministers in November to look into the problems faced by sugarcane farmers and the sugar industry.
IT stocks may gain on positive US jobs data. American employers added more jobs than forecast and the jobless rate dropped to the lowest since 2008. The 203,000 increase in payrolls in November followed a revised 200,000 advance in October, Labor Department figures showed. The US jobless rate fell to 7%, showing progress in the labor market that will help provide a spark for the US economy. Another report showed consumer confidence rose more than forecast in December to the highest level in five months, easing concern about household spending heading into the holiday-shopping season. The Thomson Reuters/University of Michigan preliminary December consumer sentiment index rose to 82.5, the strongest since July, from 75.1 in November. US is the biggest outsourcing market for the Indian IT firms.
The board of Oil & Natural Gas Corporation (ONGC) has approved an interim dividend of Rs 5 per equity share of Rs 5 each for the financial year ending March 2014.
Tata Power Company after market hours on Friday, 6 December 2013 said that the coal handling plant at Coastal Gujarat Power (CGPL), Mundra had an occurrence of fire in the coal conveyor gallery on 14 November 2013. Coal feeding to the plant was impacted due to fire and the repair works that followed. Restoration of the impact of fire on conveyor was achieved on 20 November 2013, Tata Power said. The company has processed the insurance claim as per coverage, Tata Power said.
The follow-on public offer (FPO) of state-run Power Grid Corporation of India (PGCIL) ended with a subcription of 6.74 times on Friday, 6 December 2013. The FPO received bids for a total 530.12 crore shares on Friday, 6 December 2013, compared with 78.70 crore shares on offer, as per NSE data.
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Colgate-Palmolive (India) turns ex-dividend today, 9 December 2013 for second interim dividend of Rs 9 per share for the year ending 31 March 2014 (FY 2014).
State-owned Coal India (CIL) is reportedly looking at as many as five proposals for acquisition of mines in Indonesia. CIL's overseas plans come at a time when the company is facing flak for acute shortages of coal, which is hurting country's key sectors including power and fertiliser, the media report added.
Ruby Mills after market hours on Friday, 6 December 2013 said that the shifting of the Fabric processing activity of the company from Mumbai to Village Kharsundi, Khopoli has been completed with effect from 4 December 2013.
Bonanza Industries said that the shareholders of the company at the Extra-Ordinary general meeting held on Friday, 6 December 2013, have fixed a record date of 20 December 2013 for the purpose of 2-for-1 stock split.
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