The market may open lower on weak Asian stocks. Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 31 points at the opening bell. Tata Steel, State Bank of India and Bharat Heavy Electricals (Bhel) unveil Q4 results today, 23 May 2013.
Bharti Airtel turns ex-dividend today, 23 May 2013, for final dividend of Re 1 per share for the financial year ended 31 March 2013 (FY 2013).
Yes Bank turns ex-dividend today, 23 May 2013, for final dividend of Rs 6 per share for the financial year ended 31 March 2013 (FY 2013).
Ashoka Buildcon turns ex-dividend today, 23 May 2013, for final dividend of Rs 2 per share for the financial year ended 31 March 2013 (FY 2013).
Goodyear India turns ex-dividend today, 23 May 2013, for dividend of Rs 7 per share for the year ended 31 December 2012.
NCC's consolidated net profit jumped 167.02% to Rs 12.31 crore on 1.11% decline in turnover to Rs 2032 crore in Q4 March 2013 over Q4 March 2012. The result was announced after market hours on Wednesday, 22 May 2013.
NCC's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) surged 37.35% to Rs 239.25 crore in Q4 March 2013 over Q4 March 2012.
NCC's consolidated net profit rose 2.67% to Rs 56.38 crore on 4.54% growth in turnover to Rs 6968 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). EBITDA declined 8.34% to Rs 822.66 crore in FY 2013 over FY 2012.
NCC's total order book stood at Rs 18555 crore as of 31 March 2013.
NCC's board of directors at a meeting held on Wednesday, 22 May 2013, recommended dividend of 30 paise per share for FY 2013.
Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, reportedly said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy. Last week, Ranbaxy pleaded guilty to felony charges related to drug safety and agreed to pay $500 million in civil and criminal fines under a settlement with the U.S. Department of Justice.
Daiichi Sankyo believes that certain former shareholders of Ranbaxy concealed and misrepresented critical information concerning the U.S. DOJ and FDA investigations. Daiichi Sankyo is currently pursuing its available legal remedies and cannot comment further on the subject at this time.
Daiichi Sankyo, Japan's No. 3 drugmaker, bought a 63.9% stake in Ranbaxy for $4.2 billion in 2008. It bought shares from the controlling shareholder group, led by brothers Malvinder Singh and Shivinder Singh, as well as through a tender offer and an issue of new shares.
Key benchmark indices dropped for third day in a row on Wednesday, 22 May 2013 as weakness in European markets weighed on sentiment adversely. The S&P BSE Sensex was down 49.37 points or 0.25% to 20,062.24 on that day, its lowest closing level since 14 May 2013.
Foreign institutional investors (FIIs) bought shares worth a net Rs 540.18 crore on Wednesday, 22 May 2013, as per provisional data from the stock exchanges.
As per the Q4 results calendar, Coal India unveils consolidated FY 2013 results on 27 May 2013. Sun Pharma, Power Grid Corporation of India, GAIL (India) and Hindalco Industries unveil Q4 results on 28 May 2013. Tata Motors, ONGC, Cipla, NMDC and BPCL unveil Q4 results on 29 May 2013. DLF, M&M and Tata Power unveil Q4 results on 30 May 2013.
Asian stocks slid on Thursday after China's manufacturing output unexpectedly contracted and amid speculation the Federal Reserve may soon wind back stimulus. Key benchmark indices in China, Hong Kong, Indonesia, Singapore, Taiwan and South Korea shed by 0.21% to 1.55%. Japan's Nikkei Average rose 0.23%.
China's manufacturing is contracting in May for the first time in seven months, adding to signs that economic growth is losing steam for a second quarter. The preliminary reading of 49.6 for a Purchasing Managers' Index released today by HSBC Holdings Plc and Markit Economics compares with a final 50.4 for April. A reading above 50 indicates expansion.
US stocks slid Wednesday, reversing gains after minutes from the Federal Reserve's latest meeting and comments from the Fed chief Ben Bernanke suggested the central bank may begin tapering its bond-buying program in coming months. The minutes of the last Fed meeting said a number of officials expressed a willingness to taper bond purchases as early as the upcoming meeting on June 18-19 if there were signs of sufficiently strong and sustained growth. But views differed both on how to gauge progress and on how likely it was that that threshold would be met.
The Federal Reserve's monetary stimulus is helping the U.S. economy recover but the central bank needs to see further signs of traction before taking its foot off the gas pedal, Fed Chairman Ben Bernanke said on Wednesday. A decision to scale back the $85 billion in bonds the Fed is buying each month could come at one of the central bank's "next few meetings" if the economy looked set to maintain momentum, Bernanke told Congress. In testimony that showed little immediate desire to retreat from the Fed's third and latest round of bond buying, Bernanke emphasized the high costs of both unemployment and inflation, which respectively continue to run above and below the Fed's targets.
The central bank is currently buying $45 billion in Treasury bonds and $40 billion in mortgage-backed debt each month to keep borrowing costs low and encourage investment, hiring and economic growth. It is the third round of asset purchases, or quantitative easing, since the Fed drove interest rates to near zero in late 2008.
Powered by Capital Market - Live News