 "Markets likely to open flat; Railway Budget, Feb F&O expiry eyed")
Markets are likely open flat as investors will remain cautious ahead of the Railway Budget and the expiry of February derivative contracts today. The early indicator, SGX Nifty has inched up by 2 points at 7,027 mark.
On Tuesday, benchmark share indices ended over 1% lower on Wednesday tracking fall in global stocks after crude oil prices eased.
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The Railway Budget is reportedly expected to focus on massive capacity creation in the rail sector with an increased outlay of about Rs 1.25 lakh crore.
Oil prices slid on Wednesday, extending sharp falls from the previous session after top exporter Saudi Arabia ruled out production cuts and industry data showed a further build in US crude stockpiles.
On the global front, Asian shares got off to a shaky start on Thursday as investors remained cautious in the face of a fragile recovery in volatile crude oil - a source of much of the recent anxiety about the health of the global economy.
MSCI's broadest index of Asia-Pacific shares outside Japan was down a touch, while Japan's Nikkei stock index added about 0.5% as the yen moved off recent highs.
CORPORATE NEWS
Just Dial will launch its Rs 165-crore share buyback programme today.
Infosys has recommended extending the tenure of its chief executive officer and managing director Vishal Sikka by two years apart from revising his annual compensation significantly.
The National Highways Authority of India (NHAI) will raise Rs 3,300 crore by selling tax-free bonds.
Tata Steel is likely to be disqualified in the e-auction conducted by the Odisha government for allotment of iron ore mining lease under the new MMDR Act, as the company is found to be ineligible under one of the eligibility criteria for the bidders relating to lease area held previously in the state.
Tata Motors sold more LCVs than M&M, the nearest competitor, consecutively in December and January.
Axis Bank has decided to increase its headcount in the next financial year by 10%, after going slow on hiring for two years.
Loans worth Rs 11,700 crore given by State Bank of India have been locked up as non-performing assets as nearly 1,160 defaulters have willfully decided not to repay.
Videocon is targeting 15% market share in the air conditioner segment by selling 600,000 units in 2016.
With Reuters input
