Pre-market: Tata Steel, Maruti Suzuki, Oil India to be in focus
Markets likely to open higher tracking firm global cues with Tata Steel, Maruti and Oil and India in focus
 "Pre-market: Tata Steel, Maruti Suzuki, Oil India to be in focus")
Markets are likely to open with marginal gains tracking a rebound in global markets on Tuesday. Tata Steel, Maruti Suzuki and Oil India are likely to be in focus today.
At 8:20AM, the SGX Nifty was up 16 points at 6,787.
Asian markets were trading mixed with Japanese stocks extending losses amid a firmer yen while other regional stock indices firmed up tracking overnight gains on Wall Street. The Nikkei was down 1.6% while Hong Kong's Hang Seng was up 1.2%, Straits Times rose 0.2% and Shanghai Composite was up 0.4%.
Stocks in Focus:
Tata Steel Ltd has informed that Steel & Tube Holdings of New Zealand has agreed to acquire Tata Steel International (Australasia) Ltd (TSIAL) on April 14, 2014 for a cash consideration of NZ$ 27.5 million (Rs 143 crore). TSIAL, based in New Zealand, is a distribution business supplying stainless steel, engineering steels and composite floor decks to the New Zealand and Pacific Island markets.
The country’s largest carmaker, Maruti Suzuki India Ltd, has asked dealers to hold deliveries of certain batches of the Swift DZire, as it decides whether to recall the cars and fix a faulty fuel tank component. Roughly 100,000 Swift DZire cars on roads or in dealer lots could be defective, according to a company executive.
State-owned oil exploration major Oil India has raised $1 billion via an overseas bond sale.
Suzlon said its German subsidiary Senvion SE has signed an agreement with consortium of banks for a syndicated working capital facilities of 850 million euros for a period of three years.
Alstom India said it has received a letter from Alstom Finance B.V. dated April 04, 2014 requesting the Board of Directors to consider the proposal for disposal by the Company of its auxiliary components business to an Indian legal entity to be specified by Triton, as a going concern on a slump-sale basis, subject to receipt of all relevant corporate consents and in accordance with applicable laws.
Further, Sun Pharma and Ranbaxy Labs will continue to remain in focus is likely to undergo tough scrutiny from the Competition Commission of India (CCI). According to official sources and corporate lawyers, the proposed merger of Ranbaxy into Sun will require detailed evaluation. For, the deal contains complex areas which might impact competition.
At 8:20AM, the SGX Nifty was up 16 points at 6,787.
Asian markets were trading mixed with Japanese stocks extending losses amid a firmer yen while other regional stock indices firmed up tracking overnight gains on Wall Street. The Nikkei was down 1.6% while Hong Kong's Hang Seng was up 1.2%, Straits Times rose 0.2% and Shanghai Composite was up 0.4%.
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Stocks on Wall Street ended higher on Tuesday snapping a three-session losing streak amid a rebound in IT and biotech shares which had witnessed profit taking in the past few trading sessions. The Dow Jones ended up 10 points at 16,256, S&P 500 gained 7 points at 1,852 and Nasdaq rose 33 points to finish at 4,113.
Stocks in Focus:
Tata Steel Ltd has informed that Steel & Tube Holdings of New Zealand has agreed to acquire Tata Steel International (Australasia) Ltd (TSIAL) on April 14, 2014 for a cash consideration of NZ$ 27.5 million (Rs 143 crore). TSIAL, based in New Zealand, is a distribution business supplying stainless steel, engineering steels and composite floor decks to the New Zealand and Pacific Island markets.
The country’s largest carmaker, Maruti Suzuki India Ltd, has asked dealers to hold deliveries of certain batches of the Swift DZire, as it decides whether to recall the cars and fix a faulty fuel tank component. Roughly 100,000 Swift DZire cars on roads or in dealer lots could be defective, according to a company executive.
State-owned oil exploration major Oil India has raised $1 billion via an overseas bond sale.
Suzlon said its German subsidiary Senvion SE has signed an agreement with consortium of banks for a syndicated working capital facilities of 850 million euros for a period of three years.
Alstom India said it has received a letter from Alstom Finance B.V. dated April 04, 2014 requesting the Board of Directors to consider the proposal for disposal by the Company of its auxiliary components business to an Indian legal entity to be specified by Triton, as a going concern on a slump-sale basis, subject to receipt of all relevant corporate consents and in accordance with applicable laws.
Further, Sun Pharma and Ranbaxy Labs will continue to remain in focus is likely to undergo tough scrutiny from the Competition Commission of India (CCI). According to official sources and corporate lawyers, the proposed merger of Ranbaxy into Sun will require detailed evaluation. For, the deal contains complex areas which might impact competition.