Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening on the domestic bourses today, 13 April 2015. Indian stocks will today, 13 April 2015, react to better-than-expected industrial production data for February 2015 which was released after trading hours on Friday, 10 April 2015. Most Asian stocks edged higher today, 13 April 2015.
Foreign portfolio investors (FPIs) bought shares worth a net Rs 362.79 crore on Friday, 10 April 2015, as per provisional data as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) sold shares worth a net Rs 135.18 crore on Friday, 10 April 2015, as per provisional data.
Reliance Industries (RIL) after market hours on Friday, 10 April 2015 announced successful commissioning of PET resin (polyethylene terephthalate) capacity at Dahej, Gujarat. The plant consists of two lines with a combined manufacturing capacity of 650 KTA. The plant has been built with Invista Technology for Continuous Polymerization and Buhler AG Technology for Solid State Polymerization. This is one of the largest bottle-grade PET resin capacity at a single location globally. This consolidates RIL's position as a leading PET resin producer with a global capacity of 1.15 MMTPA. PET resin from the new capacity would find application in packaging for water, carbonated soft drinks, pharmaceuticals and other food & beverages, RIL said in a statement.
L&T on Saturday, 11 April 2015 said that the company and France based AREVA have signed a memorandum of understanding (MoU) for cooperation to maximize localization for the EPR Nuclear Power plant to be built at Jaitapur, Maharashtra. AREVA's EPR nuclear reactor is a third generation advanced pressurized water reactor, L&T said in a statement.
Sun Pharmaceutical Industries (Sun Pharma) after market hours on Friday, 10 April 2015, said that the allotment committee of the board of directors approved pursuant to merger of erstwhile Ranbaxy into the company, allotment of 33.49 crore equity shares of Re 1 each to the shareholders of erstwhile Ranbaxy in the ratio of eight equity shares of Re 1 each of the company for every ten equity shares of Rs 5 each of erstwhile Ranbaxy held. The committed also approved allotment of 5,000 secured rated redeemable 9.2% non-convertible debentures of the face value of Rs 10 lakh each to the NCD holders of erstwhile Ranbaxy in the ratio of one NCD of Rs 10 lakh each of the company for every one NCD of Rs 10 lakh each held in erstwhile Ranbaxy.
HDFC after market hours on Friday, 10 April 2015, announced a reduction in its retail prime lending rate (RPLR) by 20 basis points, with effect from 13 April 2015. The reduction in the RPLR will also be applicable on loans to Non-Resident Indians (NRIs). HDFC has also revised its deposit rates. HDFC also said that it has received an approval from Reserve Bank of India (RBI) to raise external commercial borrowing (ECB) of up to $500 million. The approval is valid for a period of six months, HDFC said.
State Bank of India (SBI) on Sunday, 12 April 2015 reportedly reduced the interest rate on home loans by another 10 basis points with effect from 13 April 2015. Earlier, the bank had reduced this rate by 15 basis points, to 10% per annum, with effect from 10 April 2015. The home loan rates will be applicable for all new home loans sanctioned on or after 13 April 2015, reports indicated.
NTPC on Saturday, 11 April 2015 said that that unit no. 3 of 200 megawatts (MW) of Koldam Hydro Power Project has been commissioned on 10 April 2015. With this, the total installed capacity of Koldam Hydro Power Project has become 600 MW and the total installed capacity of NTPC group has become 44,598 MW.
Index of industrial production (IIP) increased 5% in February 2015 compared with the revised growth of 2.8% in January 2015, government data released after market hours on Friday, 10 April 2015 showed. The IIP growth for January 2015 has been scaled up to 2.8% at the first revision compared with 2.6% reported provisionally. Meanwhile, the growth in November 2014 was also been revised sharply upwards to 5.2% at its second and final revision compared with -3.9% at the first revision and 3.8% released provisionally.
Inflation based on the consumer price index (CPI) is expected to remain steady at 5.4% in March 2015, as per the median estimate of a poll of economists carried out by Capital Market. CPI inflation stood at 5.4% in February 2015. The government will unveil data on CPI for March 2015 after trading hours today, 13 April 2015.
Inflation based on the wholesale price index (WPI) is expected to remain in negative zone in March 2015. WPI inflation is expected at negative 2.2% for March 2015, as per the median estimate of a poll of economists carried out by Capital Market. WPI inflation was negative 2.1% in February 2015. The government will unveil data on WPI for March 2015 at 12:10 IST tomorrow, 14 April 2015.
The stock market remains closed tomorrow, 14 April 2015, on account of Dr. Baba Saheb Ambedkar Jayanti.
The Prime Minister, Narendra Modi, on Saturday, 11 April 2015 made a strong pitch for India's permanent membership at the United Nations Security Council, and expressed confidence that the world would soon recognize and accept India's capabilities. The Prime Minister in remarks at the Community Reception at the Carrousel de Louvre in Paris, said he was confident, based on his experience of ten months of his Government, that the hopes and expectations of all Indians would be fulfilled. He spoke of some initiatives of the new Government, including the success of the Pradhan Mantri Jan Dhan Yojana, direct cash transfer of LPG subsidy, and coal block auctions. He said the "Make in India" initiative had aroused tremendous interest in France. He said that at the crux of all policies of his Government, was the vision to generate jobs for India's youth. He said India's demographic dividend was its biggest strength.
A divergent trend was witnessed among key benchmark indices on the last trading session of the week. The S&P BSE Sensex fell 5.83 points or 0.02% to settle at 28,879.38, its lowest closing level since 8 April 2015.
Most Asian stocks edged higher today, 13 April 2015. Key benchmark indices in China, Singapore, Taiwan, Hong Kong and South Korea rose by 0.14% to 1.18%. Key benchmark indices in Japan and Indonesia fell by 0.08% to 0.32%.
Economic growth of developing markets in the East Asia-Pacific region is likely to improve this year in most countries but slow as a whole due to a drag exerted by China, the World Bank reportedly said. China's pace of growth will slow to 7.1% in 2015 from 7.4% a year earlier, the World Bank reportedly said. Growth in the developing markets of the East Asia-Pacific region, including China, Indonesia and the Philippines, will slow to 6.7% this year from 6.9% in 2014, reports indicated. Growth in the region as a whole--including developed markets like South Korea and Singapore--will remain flat at 6%, reports showed.
US stocks ended the session higher on Friday, 10 April 2015 after US conglomerate General Electric said it plans to sell assets and buy back up to $50 billion of its stock.
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