Trading of CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could fall 11 points at the opening bell. Asian stocks edged higher today, 2 January 2015.
PSU bank stocks will be in focus as the two-day brainstorming session of the finance minister, the Reserve Bank of India (RBI) governor and chiefs of state-owned banks begins today, 2 January 2015. At the session's end tomorrow, 3 January 2015, a reforms blueprint for phased implementation will be presented to Prime Minister Narendra Modi.
The meeting's agenda includes universal financial inclusion, leveraging technology, improving risk management, recovery and asset quality, talent management in PSU banks, and consolidation & restructuring of PSU banks for better efficiency, governance and capital efficiency.
Infrastructure and PSU OMCs will be in focus as in order to fund the ambitious infrastructure development programme of the Government, particularly the building of 15000 kms of roads, during current and next financial year, the Government after market hours on Thursday, 1 January 2015, has decided to increase basic excise duty on petrol and diesel (both branded and unbranded) by Rs 2 per litre. Allocation of these resources to the road sector will also spur economic activity and employment generation arising from the road construction sector. These increased rates of basic excise duty will be effective from 2 January, 2015. There will be no change in other excise duty rates applicable to these commodities.
Mahindra & Mahindra (M&M) said its total tractor sales declined 27% to 12474 units in December 2014 over December 2013. M&M's total auto sales fell 8% to 36328 units in December 2014 over December 2013. The sales figures were announced at the fag end of the trading session on Thursday, 1 January 2015.
M&M's total tractor sales declined 27% to 12,474 units in December 2014 over December 2013. M&M's total auto sales fell 8% to 36328 units in December 2014 over December 2013. The sales figures were announced at the fag end of the trading session yesterday, 1January 2015.
Eicher Motors said its total motorcycle sales jumped 48% to 28634 units in December 2014 over December 2013. Motorcycle exports surged 86% to 455 units in December 2014 over December 2013.
The Reserve Bank of India (RBI) yesterday, 1 January 2015 allowed banks to use immovable and movable assets, financial securities and corporate or personal guarantees as a security to loans given through external commercial borrowings (ECBs). The change was made with a view to liberalize the option of securities, RBI said. Banks should satisfy themselves that there is a security clause in the loan which allows the borrower to create a charge in favour of the lender, RBI said.
Key benchmark indices eked out tiny gains on first trading session of calendar year 2015 (CY 2015) yesterday, 1 January 2015. The S&P BSE Sensex rose 8.12 points or 0.03% to settle at 27,507.54, its highest closing level since 22 December 2014.
Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 18.20 crore yesterday, 1 January 2015, as per provisional data.
Asian stocks edged higher today, 2 January 2015. Key benchmark indices in Singapore, Hong Kong, Indonesia and South Korea were up by 0.09% to 0.71%.
Stocks in China, Japan and Taiwan are closed today, 2 January 2015 for holiday.
US markets remained shut yesterday, 1 January 2015 for New Year's Day.
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