Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 3 points at the opening bell. Asian stocks were higher today, 31 March 2015 after Beijing unleashed new policy moves to rejuvenate a wobbly property market.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 240.34 crore yesterday, 30 March 2015, as per provisional data. Domestic institutional investors (DIIs) bought shares worth a net Rs 651.67 crore yesterday, 30 March 2015, as per provisional data.
Among corporate news, Sesa Sterlite announced after market hours yesterday, 30 March 2015, that the shareholders of the company, inter-alia have approved by requisite majority, the name change of the company from its present name - Sesa Sterlite to Vedanta , through Postal Ballot Results announced yesterday, 30 March 2015. Sesa Sterlite is the Indian subsidiary of London listed Vedanta Resources Plc which is a globally diversified natural resources company.
The name change will enable the company to position itself strategically, create much greater value and align our businesses to a unified messaging, Sesa Sterlite said. Tom Albanese, Group CEO, Vedanta, said that the company wants to strengthen the linkage between the global business and global stakeholders, which reflects the company's commitment to creating value through a growing portfolio of global operations. The planned change in name of the company will have no impact on the operations of subsidiary companies Cairn India, Hindustan Zinc (HZL) and Bharat Aluminium Co. (BALCO) and the divisions of Sesa Sterlite, it added.
State Bank of India (SBI) before market hours today, 31 March 2015 said that the Executive Committee of the Central Board (ECCB) yesterday, 30 March 2015, authorised divestment of SBI's stake in SBI Life Insurance by upto 10%.
NTPC said after market hours yesterday, 30 March 2015 that it debuted into hydro generation. Unit no. 2 of 200 megawatts (MW) of Koldam Hydro Power Project has been commissioned yesterday, 30 March 2015, NTPC said. With this, the total installed capacity of Koldam Hydro Power Project has become 200 MW and the total installed capacity of NTPC group crosses 44 GW and has become 44,003 MW, NTPC said.
Tata Consultancy Services after market hours yesterday, 30 March 2015 announced that the first batch of students will graduate with BCom and BBA degrees with specialisation in Business Process Services designed by TCS in collaboration with academia in 2015-16. One hundred and fifty five students enrolled in the first batch of this unique industry-academia collaboration effort in 2013. Designed by TCS, this first of its kind 3-year full-time commerce degree with specialization in Business Process services, was deployed through Bachelor of Commerce and Bachelor of Business Administration programs in four institutions affiliated to the Bharathiar University, Coimbatore: PSG College of Arts and Science, Coimbatore (B.Com), Shri Krishna College of Arts and Science, Coimbatore (B.Com), PSGR Krishnammal College, Coimbatore (BBA) and Sree Saraswathi Thyagaraja College from Pollachi (B.Com in BPS).
Subsequently in 2014 the program has been extended to NGM College, Pollachi (B.Com) and Rathinam College, Coimbatore (B.Com). Overall 260 students have been enrolled for the second year's launch across 6 colleges. In 2015, the BPS specialization program will also be offered at Manipal University, Manipal, CMR Institute of Management Studies, Bangalore and St Joseph's College of Commerce (Autonmous), Bangalore, TCS said.
Ashok Leyland after market hours yesterday, 30 March 2015, said that the company has divested its entire stake of 100% ownership interest held in Avia Ashok Leyland Motors s.r.o. to a strategic investor as part of restructuring of investment in subsidiaries. The transaction has resulted in the cash realization of $10.96 million to the company, Ashok Leyland said. The relevant agreements to this effect have been signed and closing of the deal has been completed. Consequent to the above, Avia Ashok Leyland Motors s.r.o. has ceased to be a wholly-owned subsidiary of the company with immediate effect.
Capital goods, telecom, banking, cement stocks and PSU OMCs led gains as key benchmark indices surged on the first trading session of the week yesterday, 30 March 2015. The barometer index, the S&P BSE Sensex, settled a tad below the psychological 28,000 level after breaching that level in late trade. The S&P BSE Sensex gained 517.22 points or 1.88% to settle at 27,975.86, its highest closing level since 25 March 2015.
Asian markets were higher today, 31 March 2015 after Beijing unleashed new policy moves to rejuvenate a wobbly property market. Key indices in China, Hong Kong, Taiwan, South Korea, and Indonesia were up 0.13% to 1.03%. Key indices in Japan and Singapore were off 0.01% to 0.17%.
According to a statement on the People's Bank of China's website, the required down payment for second homes was lowered to 40% from 60%. In addition, select homeowners who have held a property for two years or more will be exempted from a sales tax, the finance ministry reportedly announced.
US stocks closed sharply higher yesterday, 30 March 2015, with the main indexes booking solid gains for the second straight session, driven by dovish comments from China's central-bank chief as well as a continued flurry of deal announcements.
Meanwhile, Fed Vice Chairman Stanley Fischer yesterday, 30 March 2015, suggested stress tests and certain capital requirements to contain the risks within the non-bank lending sector, while acknowledging there is little the central bank can do to impose such restrictions. Fischer offered a framework to more tightly regulate the lending activities of hedge funds, mutual funds and other non-bank entities - often referred to as shadow banks - though he was careful to show that he was offering suggestions and not potential central bank rules.
The influential monthly US nonfarm payroll data is due on Friday, 3 April 2015. The US government will announce the payroll report for March 2015 on 3 April 2015.
The US stock market is closed on Friday, 3 April 2015, on account of Good Friday.
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