The market is likely to open lower today, 26 February 2014. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 9 points at the opening bell. Volatility may remain high today, 26 February 2014, as traders roll over positions in the futures and options (F&O) segment from the near-month February 2014 series to March 2014 series. The near month February 2014 F&O contracts expire today, 26 February 2014. Most Asian stocks declined on concerns about policy moves in China and mixed economic data from the US.
State Bank of India said after market hours on Tuesday, 25 February 2014 that a meeting of the board of directors of the bank will be held on 3 March 2014, inter alia, to consider, and if thought fit, declare interim dividend for the financial year ending 31 March 2014.
Dr Reddy's Laboratories announced on Tuesday, 25 February 2014 that it has launched Sumatriptan Injection USP, Autoinjector System 6 mg/0.5 mL, for subcutaneous use in the US market on 25 February 2014. The announcement was made after market hours on Tuesday, 25 February 2014.
The IMITREX STATdose Pen (Sumatriptan succinate) brand and generic combined had US sales of approximately $169 million MAT for the most recent twelve months ending in December 2013 according to IMS Health.
Dr Reddy's Sumatriptan Injection USP, Autoinjector System 6 mg/ 0.5 mL is available in a carton containing 2 single-dose prefilled syringes.
NTPC after market hours on Tuesday, 25 February 2014 said that a Memorandum of Understanding has been signed amongst Bihar State Power Generation Company (BSPGCL), NTPC and Lakhisarai Bijlee Company (LBCPL), a wholly-owned subsidiary of BSPGCL, on 22 February 2014 to take over LBCPL by NTPC after contributing 74% of share of investment divested by BSPGCL for setting up Lakhisarai Thermal Power Project (2X660 MW) near village Kajra, District Lakhisarai, Bihar under joint venture route.
Central Electricity Regulatory Commission (CERC) in exercise of powers conferred under section 178 of the Electricity Act, 2003 has issued CERC (Terms and conditions of tariff) Regulations, 2014 which shall come into force with effect from 1 April 2014 and shall remain in force for a period of 5 years from the date of commencement.
Some of the important provisions of the regulations computation include rate of return has been retained at 15.5% which will be grossed up with effective tax rate as per Regulation 25 of the said Regulations, additional RoE of 0.5% subject to certain conditions, rate of depreciation as per Companies Act for the first 12 years, O&M charges have been increased based on past actual expenditure and any generation beyond 85% PLF level will qualify for incentive @ Rs. 0.50 per kWh, NTPC said in a statement.
National Aluminium Company after market hours on Tuesday, 25 February 2014 said that that the company's board of directors at its meeting held on 25 February 2014, have approved payment of interim dividend of Rs 1.10 per share for the financial year ending 31 March 2014. The payment of interim dividend shall be made on 25 March 2014, the company said.
IFB Agro Industries said after market hours on Tuesday, 25 February 2014 that the board of directors of the company at its meeting held on 25 February 2014, has approved the proposal of sale of its Indian made Foreign Liquor (IMFL) Brands to Tilaknagar Industries.
CEAT said after market hours on Tuesday, 25 February 2014 that manufacturing operations at the Bhandup plant of the company have been resumed on Tuesday afternoon. The out-break of fire on Sunday, 23 February 2014 at the raw material store of the company's plant at Bhandup, Mumbai, had resulted into temporary suspension of manufacturing operations.
National Fertilizers said after market hours on Tuesday, 25 February 2014 that National Fertilizers (NFL), Nangal Unit (Punjab) is under shutdown for annual maintenance from 17 January 2014. Plant is expected to resume production by first week of March 2014.
Nitin Fire Protection Industries said after market hours on Tuesday, 25 February 2014 that the meeting of the buy Back committee of the company will be held on 26 February 2014 to take stock of buy back of shares, to fix the date of closing the buy back and other related formalities.
The stock market remains closed tomorrow, 27 February 2014, on account of Mahashivratri.
Small gains helped the two key benchmark indices -- the barometer index, the S&P BSE Sensex, and the 50-unit CNX Nifty -- reach their highest closing level in 4-1/2 weeks on Tuesday, 25 February 2014. The S&P BSE Sensex garnered 41.03 points or 0.2% to settle at 20,852.47, its highest closing level since 24 January 2014.
Foreign institutional investors (FIIs) bought shares worth a net Rs 423.41 crore on Tuesday, 25 February 2014, as per provisional data from the stock exchanges.
The Reserve Bank of India next undertakes monetary policy review on 1 April 2014. Citing price pressures, the Reserve Bank of India raised its key lending rates by 25 basis points after Third Quarter Review of Monetary Policy for 2013-14 on 28 January 2014.
Most Asian stocks declined on concerns about policy moves in China and mixed economic data from the US. Key benchmark indices in China, Singapore, Japan and Indonesia fell by 0.13% to 0.46%. Hong Kong, South Korea and Taiwan rose by 0.02% to 0.21%.
US stocks finished a choppy trading session lower on Tuesday, 25 February 2014 as gloomy reports on home prices and consumer confidence dampened the mood.
US home prices ticked down 0.1% in December, declining for a second month, with 11 of 20 tracked cities posting drops, according to S&P/Case-Shiller's composite index. After seasonal adjustments, home prices in December rose 0.8%, down a bit from 0.9% in November.
The consumer confidence index fell to 78.1 in February from 79.4 in January, the Conference Board said Tuesday, 25 February 2014.
The Federal Open Market Committee (FOMC) next undertakes monetary policy review on 18-19 March 2014. After a monetary policy review, the FOMC on 29 January 2014 announced it will reduce monthly bond purchases by another $10 billion to $65 billion.
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