Nifty big support at 4600 buy with this sl for target 4750
Stock on radar- Tulsi,Onmobile,Skumar,Yes bank,Renuka
Fertilizer Stock to move
Bindas short Orchid chemical in lots
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State Bank of India has reportedly shortlisted three potential partners, including Insurance Australia Group, for a general insurance venture. The other two are a German firm and a US-based firm, the reports suggested.
GTL Infrastructure is reportedly in talks with Essar Telecom Infrastructure for a possible merger. A final decision is expected in about 3 to 4 weeks time, the reports said.
Yes Bank, Honeywell Automation and Mastek among others will declare their March 2008 ended quarterly results today.
Hindustan Unilever (HUL) has reportedly cut prices of three of its soap brands—Lux, Hamam and Rexona. The price reduction by HUL is being termed as a post-budget measure to please consumers, the reports added. The excise duty on soaps was reduced by a margin of 2-14% in the union budget for 2008-09.
Areva T&D India on Tuesday, 8 April 2008 said it has secured a Rs 418 crore from Essar Constructions to provide equipment to the latter's power plant projects in Gujarat and Madhya Pradesh.
Britannia is reportedly expected to sell its 22-acre property in Padi, an old manufacturing hub north of Chennai. This follows the suspension of operations at the company’s plant located in the region. The company informed the Bombay Stock Exchange (BSE) on Tuesday that it has suspended operations effective 7 April 2008 at its Padi unit after the majority of workers accepted the company’s voluntary retirement scheme offer.
Good results are expected from the telecom sector on the back of strong growth in new subscribers additions. Infrastructure and engineering firms, too, are seen reporting decent numbers in Q4 March 2008 on the back of healthy order book positions. The performance of auto firms is likely to be sluggish due to muted volume growth and rise in input costs.
A depreciation of the rupee against the dollar is likely to drive good results from the IT sector on a sequential basis in Q4 March 2008 over Q3 December 2007, though the focus here is on guidance for the year ending March 2009 from IT bellwether Infosys Technologies. Infosys guidance will give investors a sense of the effect of the weakening US economy on technology spending by companies there. Infosys unveils Q4 results on Tuesday, 15 April 2008.
Prospects of further outflow by foreign funds to offset losses incurred by them in the US sub-prime mortgage market continue to weight on the market sentiment. In the calendar year so far, FIIs sold shares worth a net Rs 11808.70 crore (till 4 April 2008), to offset their huge losses in the US sub-prime mortgage market. As per provisional data, FIIs bought shares worth a net Rs 7.27 crore on Tuesday, 8 April 2008.
As far as domestic liquidity is concerned, inflows to equity mutual funds and unit linked insurance plans (with high weightage for equity) have slowed after the sharp setback on the bourses in the past two months. As per provisional data, domestic funds bought shares worth a net Rs 447.79 crore on Tuesday, 8 April 2008.