Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 7 points at the opening bell. NTPC announces Q4 results today, 10 May 2013. The Central Statistics Office (CSO) will issue data on industrial production for March 2013 today, 10 May 2013. Asian stocks were mostly higher on Friday, 10 May 2013, with Japanese equities hitting fresh five-year highs as the dollar's break above the symbolic 100 yen level underpinned sentiment.
Wipro after market hours on Thursday, 9 May 2013 said that the Securities & Exchange Board of India (Sebi) has approved its proposal to meet the minimum public shareholding requirement through a transfer of equity shares by the promoter group to an 'Irrevocable Independent Trust' with Trustees either from public sector banks or public financial institutions for advancing philanthropic activities through its beneficiaries. Wipro said that the company and the promoter group have undertaken multiple steps to fulfill the minimum public shareholding requirement including Offer for Sale (OFS). The demerger of the 'diversified' business is also expected to increase public shareholding. Any shortfall to meet public shareholding prior to due date of meeting the minimum public shareholding requirement would be transferred to the 'Irrevocable Independent Trust' and the trust shall effect a sale of such equity shares forming part of the trust funds within a period of two years from the date of such settlement, Wipro said.
Reliance Industries (RIL) turns ex-dividend today, 10 May 2013, for dividend of Rs 9 per share for the year ended 31 March 2013 (FY 2013).
Bosch turns ex-dividend today, 10 May 2013, for final dividend of Rs 60 per share for the year ended 31 December 2012.
Indian stocks on Thursday, 9 May 2013, snapped three-day wining streak as European stocks fell. The S&P BSE Sensex lost 51.14 points or 0.26% to settle at 19,939.04, its lowest closing level since 7 May 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 662.88 crore on Thursday, 9 May 2013, as per provisional data from the stock exchanges.
The stock exchanges have decided to conduct a special trading session for a short duration tomorrow, 11 May 2013, as the Bombay Stock Exchange (BSE) is testing its disaster recovery software. Trading will start at 11:15 IST and end at 12:45 IST.
The focus of the market is on Q4 results. Bank of Baroda unveils Q4 results on 13 May 2013. Dr Reddy's Laboratories and Reliance Infrastructure unveil Q4 results on 14 May 2013. Bajaj Auto announces Q4 results on 16 May 2013. ITC unveils Q4 results on 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) unveils 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 Central Statistics Office (CSO) will issue data on industrial production for March 2013 today, 10 May 2013. Industrial production rose 0.6% in February 2013.
The RBI on 3 May 2013 cut its key policy rate viz. the repo rate by 25 basis points (bps) to 7.25% and kept the cash reserve ratio (CRR) for banks unchanged at 4% after a monetary policy review. RBI said that the balance of risks stemming from its assessment of the growth-inflation dynamic provides little space for further monetary easing. The central bank said that with upside risks to inflation still significant in the near term in view of sectoral demand supply imbalances, ongoing correction in administered prices and pressures stemming from MSP increases, monetary policy cannot afford to lower its guard against the possibility of resurgence of inflation pressures. The RBI said it will endeavour to condition the evolution of inflation to a level of 5% by March 2014, using all instruments at its command.
The finance ministry in October 2012 announced a five-year plan to cut fiscal deficit. The government hopes to reduce the fiscal deficit to 3% by March 2017.
Asian stocks were mostly higher on Friday, 10 May 2013, with Japanese equities hitting fresh five-year highs as the dollar's break above the symbolic 100 yen level underpinned sentiment. Key benchmark indices in Indonesia, Singapore, Japan and China rose by 0.09% to 2.65%. Key benchmark indices in Taiwan, South Korea and Hong Kong fell by 0.06% to 0.83%.
US stocks declined moderately on Thursday, halting Wall Street's record-setting streak, even as data showed that weekly jobless claims fell to a five-year low. The Labor Department reported an unexpected drop in jobless claims, which last week fell by 4,000 to 323,000.
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