Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 21 points at the opening bell. Asian stocks were mixed today, 12 June 2015. The government will unveil industrial production data for April 2015 at 17:30 IST today, 12 June 2015. The government will also unveil the consumer price index (CPI) data for the month of May 2015 at 17:30 IST today, 12 June 2015.
Foreign portfolio investors (FPIs) sold shares worth a net Rs 622.89 crore yesterday, 11 June 2015, as per provisional data released by the stock exchanges. Domestic institutional investors (DIIs) bought shares worth a net Rs 589.29 crore yesterday, 11 June 2015, as per provisional data.
Index heavyweight Reliance Industries (RIL) will be in focus. RIL is holding its 41st annual general meeting in Mumbai today, 12 June 2015.
Wipro announced after market hours yesterday, 11 June 2015, that it will implement a next generation customer helpdesk management solution, powered by its artificial intelligence (Al) platform - Wipro HOLMES for Nexenta, the global leader in Open Source-driven Software-Defined Storage (OpenSDS). Wipro will also implement a Service Bot Workbench for Nexenta's internal Technical Team.
Wipro's solution will automate the creation of service tickets using Natural Language Processing (NLP) technologies. It will auto categorize tickets using intelligent algorithms and help Nexenta resolve issues using intelligent virtual bots and scripts. This will enable faster resolution of service tickets, enhance the overall user experience and improve productivity, the company said.
Tech Mahindra announced after market hours yesterday, 11 June 2015, the launch of its next generation cloud management platform mPAC (managed platform for adaptive computing) for hybrid IT management. It leverages technologies fro HP and VMTurbo suite of products. mPAC is the next generation cloud management platform which simplifies IT by transforming legacy datacenters into adaptive infrstructure enabling software defined datacenter. It aims to improve agility by reducing service deployment time from months to minutes, therby resulting in significant cost savings.
Shares of state-run banks will be in focus as Finance Minister Arun Jaitley is scheduled to hold the Quarterly Review Meeting of the CEOs of the public sector banks (PSBs) and Financial Institutions (FIs) for the year ended 31 March 2015 (Financial Year 2014-15) in the national capital today, 12 June 2015. The Finance Minister would broadly review the Annual Financial Performance of the PSBs during the Financial Year 2014-15. He will also review the performance of banks with regard to their performance in overall credit growth with particular reference to agriculture credit, MSE credit, education loans, housing loans and non-performing assets (NPAs), according to a statement issued by the finance ministry after trading hours yesterday, 11 June 2015.
Realty stocks will be in focus after the Reserve Bank of India (RBI) yesterday, 11 June 2015, announced that the scheme under which External Commercial Borrowings (ECB) can be raised by eligible borrowers for low cost affordable housing projects under the approval route will continue for the financial year 2015-16.
Aviation stocks will be in focus after the Reserve Bank of India (RBI) yesterday, 11 June 2015, extended the scheme under which airline companies are allowed to raise External Commercial Borrowings (ECB) under the approval route for working capital as a permissible end-use till 31 March 2016. Earlier, the RBI had extended the validity of the scheme twice. The scheme was extended initially till 31 December 2013 and thereafter till 31 March 2015.
IndusInd Bank said after market hours yesterday, 11 June 2015, that, pursuant to the approval by the shareholders through postal ballot on 8 June 2015 for issuing equity shares up to 10% of the authorised equity share capital of the bank, the board of directors of the bank, at their meeting held on 11 June 2015 have approved preferential allotment of shares to promoters of the bank up to 1.5% of the authorised share capital of the bank of Rs 600 crore (Preferential Allotment), so that post any other issue of equity shares that the bank may do pursuant to the shareholders approval and the preferential allotment, the aggregate holding of the promoters i.e. IIHL and its subsidiary is retained at 15% and have proposed to seek approval of the Reserve Bank of India and shareholders of the bank for the same.
The board of directors of the bank have authorised Finance Committee of Board / Managing Director and/or Company Secretary and / or Chief Financial Officer on behalf of the board to finalise the notice to shareholders and explanatory statement for obtaining consent of the members of the bank to the Preferential Allotment and to do all such acts, deeds, matters and things as may at its sole and absolute discretion deem fit, necessary, desirable incidental or expedient for such purpose, to give effect to this resolution.
The government is scheduled to unveil industrial production data for April 2015 at 17:30 IST today, 12 June 2015. Industrial output growth touched a five-month low of 2.1% in March from a revised 4.9% in February on the back of an across-the-board slowdown in production.
The government is also scheduled to unveil the consumer price index (CPI) data for the month of May 2015 at 17:30 IST today, 12 June 2015. Consumer price index-based retail inflation eased to a four-month low of 4.87% in April from a revised 5.25% in March.
Banking and power generation stocks led a steep slide for key benchmark indices yesterday, 11 June 2015. The S&P BSE Sensex lost 469.52 points or 1.75% to settle at 26,370.98, its lowest closing level since 17 October 2014.
Asian stocks were mixed today, 12 June 2015. Key benchmark indices in Singapore, Hong Kong, Japan, and South Korea rose by 0.05% to 0.63%. Key benchmark indices in Taiwan, Indonesia and China fell by 0.03% to 0.12%.
US stocks closed higher yesterday, 11 June 2015 adding to strong gains made a day earlier, as retail sales provided more evidence of a strengthening economy.
In economic data, sales at US retailers climbed 1.2% in May and rose for the third month in a row, offering more evidence of springtime rebound in consumer spending after a winter lull.
The number of people who applied for US unemployment benefits rose slightly in the first week of June but remained near a 15-year low amid a sharp upsurge in hiring over the past few years. Initial jobless claims edged up by 2,000 to 279,000 in the seven days from May 31 to June 6, the government said yesterday, 11 June 2015.
A two-day meeting of the Federal Open Market Committee (FOMC) to review US monetary policy is scheduled on 16-17 June 2015.
In Europe, the International Monetary Fund halted negotiations with debt-strapped Greece due to a lack of progress. Greece deferred a payment to the International Monetary Fund last week and needs to crack a deal or get another extension before its euro-area bailout package expires on 30 June 2015.
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