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April 4: Services PMI slips to 5-month low

  • April 4: Services PMI slips to 5-month low

    April 4: Services PMI slips to 5-month low

  • Kingfisher extends gains as staff calls off strike

    A passenger walks past a near-empty Kingfisher airlines ticketing office at Mumbai's domestic airport

    Kingfisher Airlines is trading higher by 5% at Rs 17.60, extending its 10% rally on reports that the beleaguered carrier's employees withdrew their proposed agitation accepting its promoter Vijay Mallya's assurance for a staggered payment of their salary dues starting today.

    "The employees, led by pilots and engineers, had threatened to stop work from Tuesday night if two months salary was not paid. However, they backed off after a late night negotiations with Mallya at his Mumbai residence," the report suggests.

  • Maruti Suzuki up 2% on Morgan Stanley upgrade

    A customer stands inside a Maruti Suzuki's car showroom in Ahmedabad

    Shares of India's largest carmaker Maruti Suzuki rose as much as 2.1%, after Morgan Stanley upgraded the stock to overweight from equal-weight and raised its target price to Rs 1,599 from Rs 1,181.

    Morgan Stanley also added Maruti Suzuki to its focus list in place of Bajaj Auto as it expects Maruti to add 1% of market share in FY13.

  • Power shares gain

    Worker installs electric power cable at a newly constructed power station in Jammu

    Shares of power generation companies have rallied on bourses in morning trades in an otherwise weak market after the Government directed the state-owned coal manufacturer Coal India to sign 20-year fuel supply agreements (FSAs) with power producers within a week.

    "The decree will help power firms run idling plants, sell electricity and secure finance. It will help idling thermal plants with a total capacity of 28,000 mw that have been built by last December, and another 22,000 mw that will be constructed in the next three years," the report suggests.

  • Asian shares retreat as Fed minutes soften stimulus bias

    Investors sit below an electronic board displaying share prices during a trading session at the Karachi Stock Exchange

    Asian shares fell on Wednesday after the minutes from the US Federal Reserve's March meeting reduced expectations of further stimulus measures to spur growth, leaving investors looking for more clues to the global economic outlook.

    European equity markets will likely follow the weak Asian mood, with financial spreadbetters predicting major European markets to open as much as 0.8% lower. US stock futures were down 0.4%.

  • Apple-mania spreads, Piper Jaffray sees $1,000 stock

    A boy looks at an Apple iMac desktop computer at the new Apple Store in Pudong Lujiazui, in Shanghai

    Apple Inc shares set a record high on Tuesday after Piper Jaffray supported Topeka Capital Market's assertion that the stock should breach $1,000 in a year or two, propelled by emerging markets growth and new products that could include a revolutionary TV set.

    Piper Jaffray senior research analyst Gene Munster, a longstanding bull on the world's most valuable company, joined Topeka analyst Brian White in predicting a run to $1,000 - but by 2014, versus White's timeframe of around 2013. That would make Apple the world's first trillion-dollar company.

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