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Market News Trends

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  1. #1
    insight95in
    insight95in is offline eTI Member

    Market News Trends

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    HOT FROM THE PRESS NEWS

    * RELIANCE : submits an all-cash but non binding bid to buy a controlling stake
    in the world's third largest petrochem co Lyondell Basell, if it comes out of
    bankruptcy.. press rpts suggest the deal cud be in the range of $10-12bn

    * BANKS : RBI will give banks six months more to set aside extra funds fm their
    profits to cover NPAs, stretching an earlier deadline of Sept 2010

    * PNB : scouting for acquisitions, to focus more in southern & western regions

    * ICICI : raises $750mn thru a 5 year bond issue at its Bahrain branch.. the
    issue had an order book of $3bn & was participated by over 250 investors

    * LUPIN : US based Medicis Pharma files a patent infringement case against the
    co for a dermatology medicine

    * NALCO : in talks with an Islamic Bank in Indonesia for a Rs100bn loan for its
    Iran project, on hold due to cos inability to secure finances for the venture

    * JK LAKSHMI CEMENT : plans to raise Rs8bn thru debt and equity to part-finance
    setting up a greenfield project

    * ESSAR OIL : rpts Royal Dutch Shell Plc to acquire 10% stake in the Co as part
    of the deal to sell 3 refineries to Essar

    Corporate News – Industry trends

    * RELIANCE Industries could pay up to US$12 bn for bankrupt
    petrochemicals company Lyondell Basell, bankers familiar with the
    transaction said; the deal, if consummated, would take Reliance’s top
    line to more than US$80 bn, greater than industry titans such as Dow
    Chemicals (ET)

    * US-based Medicis Pharmaceutical Corporation has filed a case
    against Indian drug maker Lupin, alleging infringement of its patent on
    a dermatology medicine (BS)

    * The Ministry of Defence has agreed to release 25 MHz of 3G
    spectrum in the 1920-1980 MHz band before December 7, but with the
    condition that the government will clear the proposal for laying of an
    alternative optical-fibre network for the military before that date and
    create a monitoring mechanism for the project’s implementation (BS)

    * AS AMERICA’S top banks emerge from the Troubled Asset Relief
    Program (TARP) and the economy starts showing signs of recovery,
    Indian outsourcing vendors, TCS, Infosys and Wipro, are set to gain
    off shoring projects worth around US$1 bn over the next one to two
    years (ET)

    * Rico Auto, a major component supplier to Maruti Suzuki, Hero Honda
    and Tata Motors, says it will set up two new plants outside Haryana
    after a protracted labour strike at its four plants in the state crippled
    production for over two months (ET)

    * JK Lakshmi Cement will raise around Rs 8bn through debt and equity
    to part-finance setting up a greenfield project in Chhattisgarh in order
    to get a foothold in the central and eastern India (ET)

    * Steel magnet Lakshmi N Mittal has paid over US$10 mn to double
    his stake in Africa focused Ophir Energy Plc to 21.2%, even as he
    exited the oil and gas business in the Central Asian nation Kazakhstan
    (BS)

    * Bajaj Auto is betting big on its Pulsar bike and plans to raise
    production to 90,000 units per month, in the next six months with a
    sales target of one million units per annum by the end of next financial
    year (BS)

    * Reliance Industries Ltd’s (RIL) refinery at Jamnagar, Gujarat,
    received its first consignment of Cairn India’s Rajasthan crude oil over
    the weekend. The first consignment was dispatched on Saturday (BL)

    * The life insurance industry is expected to grow by about 15% in the
    current fiscal year to touch a total premium income of Rs 2.55 trillion
    in 2009-10 (Mint)

    * IDBI has awarded the mandate to three leading foreign lenders to
    raise a US$225 mn five year syndicated loan in Asian and European
    markets by mid December (Mint)

    * Suzlon Energy, has shifted most of its management operations back
    to its headquarters in Pune; Two years earlier, it had set up a Group
    Management Centre in Amsterdam, Netherlands, to run its global
    business, spanning 21 countries. Instead, Suzlon will soon inaugurate
    a new campus in Pune with a ‘world class work environment’ for about
    2,500 employees, named ‘Suzlon One Earth’. This Centre will act as
    the new global headquarters and the hub for its operations worldwide
    (BS)

    Economic/Regulatory development

    * The Reserve Bank of India’s second quarter monetary policy review
    signalled an exit from the central bank’s accommodative stance,
    leading many to believe that interest rates would move in only one
    direction – north (BS)

    * The subsidy on wheat and rice supplied through the public
    distribution system (PDS) has risen sharply, thanks to an increase of
    over Rs 100 per quintal in the economic cost of food grains; The level
    of subsidy in 2009-10 worked out at between 56 and 60% for the
    above poverty line category consumers and between 70 and 72.4% for
    the below poverty line consumers (BS)

    International trends

    * Royal Bank of Scotland Plc sold US$7 bn of debt due in March 2012,
    according to data compiled by Bloomberg, equalling the largest US
    corporate sale since May (BS)

    * Ford Motor Co said it will spend 4 bn to expand in the growing
    Brazilian market, the largest investment it has made in the country
    (BS)

    * Consumer spending probably rebounded in October, showing that
    mounting unemployment is restraining, not derailing, the biggest part
    of the US economy (ET)
    Note: More intra-day opportunities will be provided
    live during the market hours


  2. #2
    priya0710
    priya0710 is offline eTI Iron
    Trading along the market trend helps traders to safely trade in market and minimize their looses. Stock which underperformed today are : Yes bank, Tata steel, Vedl. By having a good market knowledge more useful trading strategy can be framed.

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