Pre-market: Markets likely to open higher

Markets are likely to open positive but will remain cautious in trade thereafter. All eyes are now on the RBI policy review slated for March 19, 2013.

The US equity markets closed marginally higher on the back of better-than-expected retail sales data while European markets finished mixed. Investment guru Marc Faber advised caution while trading in equities. The Dow ended up 84 points at 14,539.

In Asia this morning markets were mostly in green. Shanghai Composite and Hang Seng have added around 0.3% in morning trades. Nikkei, however, has jumped to 12,481 -up 0.8%. At 630 hrs IST the SGX Nifty was unchanged at 5,936.

In individual shares, Videocon Mobile Services (VMS) is set to launch 4G long-term evolution (LTE) services in the country in the Gujarat circle. The company has also tied up with Nokia Siemens to share 4G technology. This may bring the stock into focus.

Also watch out for ONGC and Oil India as OVL, Oil India have jointly bid for stake in Mozambique field. The stake on offer from Videocon and US explorer Anadarko Petroleum Corp, which is also the operator of the field.

The National Pharmaceutical Pricing Authority (NPPA) has named a number of drug makers for allegedly overcharging consumers for many essential medicines, amounting to a total of Rs 2,362 crore over the past few years. Those named include prominent firms such as as Cipla, Dr Reddy's Labs and Ranbaxy.

Coal India may also be in the limelight on news that the company has marshaled additional supplies to fire power units. Between the April-January period in FY13, CIL’s production increased six per cent and off-take grew eight per cent.