Key benchmark indices could open lower today, 20 November 2014. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could decline 4 points at the opening bell.
Shares of cement and metal companies and power generation firms will be in focus after the Ministry of Coal yesterday, 19 November 2014, placed in public domain the draft rules for auction/allocation of 204 coal blocks cancelled by the Supreme Court in September this year. The draft rules provide the process of allocation through auction and allotment. The central government will issue an order to the Nominated Authority specifying which coal mines are to be auctioned and which are to be allotted to the government companies. The Nominated Authority will prepare a 'Mine Dossier' for each mine containing the particulars of geographical area, coal reserves, mine infrastructure, approvals, permits, etc. in relation to such mine.
Eligibility to bid for Schedule II & III coal mines shall be dependent on the status of preparedness of their end use plant viz. 80% of investment made in the EUP for Schedule II mines and 60% of investment made in the EUP for Schedule III mines. In case of allotment to government companies, the progress of development of coal blocks by the applicant in the past, financial and technical capabilities of the applicant, status of preparedness of end use plant, per-capita power availability in the state of the applicant, its current and future requirements etc. will be the factors for selecting the allottee. The Nominated Authority may also specify the maximum number of mines and/or coal reserves that may be allocated to one or more persons.
The draft rules for auction/allocation of coal blocks also provide the manner of determination of compensation, priority of disbursal of proceeds arising out of land and mine infrastructure, determination of claims and manner of disbursement.
A successful bidder or allottee may utilize coal mined from a particular coal mine in any of its other similar end use plants by giving a prior intimation to the Central Government in writing and the Central Government may impose such terms and conditions as may be found necessary.
The coal ministry has invited comments on the draft rules for auction/allocation of coal blocks from the public and stakeholders. The comments and suggestions can be sent by 9:00 IST on Monday 24 November 2014, the coal ministry said.
The National Stock Exchange (NSE) will include Amtek Auto, Bosch, Engineers India, Indiabulls Housing Finance, Strides Arcolab and Wockhardt in the future and option (F&O) segment with effect from 28 November 2014. Typically, stocks entering the F&O segment gain ground due to improved liquidity and absence of circuit filters in the F&O segment.
L&T after market hours yesterday, 19 November 2014 in a clarification with regard to news item titled "L&T, Sojits win India railway order worth 50 bn Yen" said that Sojitz Corporation has informed on 19 November 2014 in the media about the above order received by the consortium and the same has been confirmed by L&T.
Infosys announced after market hours on Wednesday, 19 November 2014, that it will collaborate with Stanford Graduate School of Business (GSB) to create a comprehensive executive education program. As part of this agreement, Stanford GSB will team with senior Infosys executives to design and deliver a customized strategic leadership development program for the company's executives, clients and partners. The executive education program will include a suite of business management skills, as well as courses in corporate innovation processes to help Infosys balance business discipline and entrepreneurial spirit. The office of Executive Education at Stanford GSB and Infosys will deliver the leadership program through in-person and online instruction, as well as live sessions enabled by distance-learning technology. The initiative will include 200 executives who will each participate in a part-time, year-long program in groups of 40 over three years. Executives will be able to test and apply their learning to real business challenges in parallel, the company said in a statement.
A slide during the latter part of the trading session pushed key benchmark indices lower on Wednesday, 19 November 2014. The barometer index, the S&P BSE Sensex, regained the psychological 28,000 level after falling below level in intraday trade. The Sensex and the 50-unit CNX Nifty, both, hit their lowest closing level in almost a week. The S&P BSE Sensex declined 130.44 points or 0.46% to settle at 28,032.85, its lowest closing level since 13 November 2014. The CNX Nifty shed 43.60 points or 0.52% to settle at 8,382.30, its lowest closing level since 13 November 2014.
Meanwhile, the provisional data released by the stock exchanges after trading hours on Wednesday, 19 November 2014, showed that foreign portfolio investors (FPIs) bought shares worth a net Rs 71.80 crore on that day.
Asian equity markets were trading on a mixed note on Thursday as traders reacted to better-than-expected trade figures from Japan and the continued slide in iron ore prices. Key benchmark indices in China, Hong Kong, Japan and Taiwan were up by 0.02% to 1.10%. Key benchmark indices in Indonesia, Singapore and South Korea were off 0.15% 0.57%.
US stocks edged lower on Wednesday, 19 November 2014, as minutes from the most recent Federal Reserve meeting gave investors few new clues as to when US interest rates may rise. The S&P 500 snapped a four-day run of gains and a two-day streak of record closing highs. Minutes of the US central bank's October 28-29 meeting, where policymakers decided to finally end their bond-buying stimulus, indicated a debate among policymakers over the outlook for inflation and the economy.
Following the release of the minutes, US short-term interest-rate futures traders were still betting on a first Fed rate hike by September next year. Tech names were among the biggest drags on the market, with the Nasdaq underperforming both the Dow and S&P 500.
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