 "Stock market: A roller coaster ride for Indian equities")
Benchmark indices are likely to witness a positive opening mirroring gains across the Asian peers after New Zealand’s Reserve Bank made a surprise rate cut raising hopes of further stimulus from the ECB. Meanwhile, uptick in the crude oil prices is likely to uplift the mood.
GLOBAL MARKET
Asian stocks are trading largely in green after New Zealand’s Reserve Bank made a surprise rate cut raising hopes of further stimulus from the ECB. Meanwhile, uptick in the crude oil prices further uplifted the sentiments. Japan’s Nikkei, Hong Kong’s Hang Seng and Singapore’s Straits Times have gained 0.5%-1%. However, China’s Shanghai Composite is down 0.6% ahead of the February inflation numbers due tomorrow.
STOCKS TO WATCH OUT
Mphasis will remain in focus after Tech Mahindra decided to pull out of the race for Mphasis to avoid a bidding war with other suitors. Tech Mahindra was till recently seen as a serious contender for Hewlett Packard’s 60.5 per cent stake in Mphasis in a deal worth over $1 billion. Reports said private equity firm Blackstone was preparing to back Mphasis Chief Executive Officer Ganesh Ayyar for a management buyout and was preparing to submit a bid soon. Blackstone will face competition from Apollo Global Management, another contender.
OCB is likely to see some action after rating agency CARE revised ratings for Oriental Board of Commerce's Basel-III bonds from 'AA+' to 'AA'.
Jindal Steel and Power Limited (JSPL) is considering various debt restructuring options, including the 5/25 scheme, to deal with rising debt obligations.
HUL is likely to see an uptick after Hindustan Unilever (HUL) and the Pond’s HLL ex-Mercury Employees Welfare Association, representing workers at the multinational’s now-closed thermometer factory in Kodaikanal, Tamil Nadu, both announced the signing of a agreement to settle a long-running dispute on the union’s demand for compensation and rehabilitation.
Suzlon may witness action after the Suzlon Group charted out a Rs 1,200-crore investment plan to take up a solar, wind and hybrid power project in the state of Telangana.
Bajaj Auto plans export of its latest commuter bike, the V, from next fiscal after meeting domestic commitments.
Credit rating agency CRISIL on Wednesday lowered its rating of long-term bank facilities of Bharat Heavy Electricals Limited ( BHEL) citing constrained business risk profile of the capital goods player.
Kotak Mahindra Bank will be in limelight after the Reserve Bank of India allowed overseas investors to buy stake in Kotak Mahindra Bank as foreign shareholding in the private bank has come below the prescribed limit.
Unichem Laboratories has received approval from the US health regulator USFDA for its generic Quetiapine Fumarate tablets used for treatment of schizophrenia and bipolar disorder.
