Trading of CNX Nifty futures on the Singapore stock exchange indicates a flat opening today, 25 April 2013. The market may remain volatile today, 25 April 2013, as traders roll over positions in the futures & options (F&O) segment from the near month April 2013 series to May 2013 series. The April 2013 F&O contracts expire today, 25 April 2013. The stock market remained shut on Wednesday, 24 April 2013, on account of Mahavir Jayanti.
Jindal Steel & Power declares its Q4 results today, 25 April 2013.
Tata Consultancy Services (TCS), after market hours on Tuesday, 23 April 2013 announced its Intelligent Testing System (ITS) solution, designed to help customers automate the testing lifecycle. The new solution is being developed through TCS' existing partnership with CA Technologies and combines TCS' innovative process and automation tools with CA LISA Service Virtualization software. TCS is premiering this new offering, which will be generally available in May 2013, at CA World 2013 in Las Vegas, NV.
ITS features engineering-based accelerators and built-in agile tools and will allow TCS and CA Technologies' customers to automate the entire test cycle, reduce dependency on components and provide faster time to market, leading to higher quality while minimizing costs. For use across all industries, ITS will allow users to test their applications intelligently while adhering to industry-specific regulatory requirements.
TCS is demonstrating the ITS solution at CA World from April 21-24, 2013 in Las Vegas, NV. The company is a Gold Sponsor at this year's event.
Axis Bank's net profit rose 21.75% to Rs 1555.15 crore on 18.39% rise in total income to Rs 9054.72 crore in Q4 March 2013 over Q4 March 2012. The bank announced Q4 results on Wednesday, 24 April 2013.
Axis Bank's board of directors have recommended the payment of dividend of Rs 18 per share for the year ended 31 March 2013.
Jet Airways (India) said on Wednesday, 24 April 2013 that the board of directors of the company at its meeting held on 24 April 2013, has approved, subject to compliance with applicable laws and regulations, shareholders and other necessary approvals, the issuance, by way of a preferential allotment pursuant to the provisions of Section 81(1A) of the Companies Act, 1956 and other applicable legal provisions, including Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended ("SEBI ICDR Regulations") of 2.7 crore shares to Etihad Airways PJSC at a price of not less than Rs 754.7361607 (including premium of Rs. 744.7361607 per share) per share. The approval of the shareholders for such issuance and allotment will be sought at an Extraordinary General Meeting to be held in this regard. The board of directors has granted approval for the company and Etihad PJSC to enter into inter alia, the Investment Agreement in relation to such issuance and allotment and other documents incidental thereto.
The said preferential allotment is subject to various conditions precedent including regulatory approvals.
GMR Infrastructure said on Wednesday, 24 April 2013 that Mr. Subba Rao Amarthaluru, Group Chief Financial Officer has decided to pursue his career interests elsewhere. Mr. Madhu Terdal has been appointed as Group Chief Financial Officer of GMR Infrastructure in the place of Mr. Subba Rao Amarthaluru with effect from 24 April 2013. Mr. Subba Rao Amarthaluru will continue to be in the services of the company till July 2013 to ensure smooth transition.
Mahindra & Mahindra Financial Services' consolidated net profit rose 42.89% to Rs 346.36 crore on 33.35% rise in total income to Rs 1189.32 crore in Q4 March 2013 over Q4 March 2012. The company announced Q4 results after market hours on Tuesday, 23 April 2013.
An intraday rebound in late trade helped key benchmark indices end a tad higher on Tuesday, 23 April 2013. The market reversed intraday losses as gains in European stocks boosted sentiment. The S&P BSE Sensex advanced 9.53 points or 0.05% to 19,179.36 on that day, its highest closing level since 18 March 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 226.21 crore on Tuesday, 23 April 2013, as per provisional data from the stock exchanges.
The focus of the market is on Q4 results. Hero MotoCorp, ICICI Bank and Maruti Suzuki unveil Q4 results tomorrow, 26 April 2013. IDFC announces Q4 results on 1 May 2013.
Bharti Airtel and Kotak Mahindra Bank unveil Q4 results on 2 May 2013. ACC and Ambuja Cements announce Q1 March 2013 results on 3 May 2013. Grasim announces Q4 March 2013 results on 4 May 2013. HDFC unveils Q4 results on 8 May 2013. Ranbaxy announces Q1 March 2013 results on the same day. Dr. Reddys Laboratories announces Q4 results on 14 May 2013. Bajaj Auto announces Q4 results on 16 May 2013. BPCL announces Q4 results on 29 May 2013.
The Reserve Bank of India (RBI) will announce the Monetary Policy Statement 2013-14 on 3 May 2013. The RBI cut its key policy rate viz. the repo rate by 25 basis points to 7.5% after a mid-quarter monetary policy review on 19 March 2013. Inflation based on the monthly wholesale price index (WPI) eased the lowest level in 40 months at 5.96% in March 2013, and sharply lower than 6.84% in February 2013, data released by the government on 15 April 2013 showed. Non-food manufacturing inflation or core inflation slowed further to 3.41% in March 2013, the data showed.
Parliament reconvened for the second half of the Budget Session Monday, 22 April 2013. The session ends on 10 May 2013.
Most Asian stocks edged lower on Thursday. Key benchmark indices in China, Indonesia, Singapore and Taiwan fell by 0.12% to 0.7%. Key benchmark indices in Hong Kong, Japan and South Korea rose by 0.14% to 0.46%.
The S&P 500 and Nasdaq ended flat on Wednesday with Boeing's five-year high among the day's highlights, but weakness in Procter & Gamble and AT&T kept the Dow Jones Industrial Average in negative territory. Data showed orders for U.S. durable goods fell in March by the most in seven months as demand slumped for commercial aircraft and business investment cooled.
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