Dear Customer,
Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.
- U.S. stocks kicked off the week on a high note, posting solid gains on Monday, as international markets rallied and investors looked toward the Federal Open Market Committee's meeting and policy statement on Wednesday.
| Dow Jones |
17977.4
|
+228.1
|
+1.29%
|
| Dow Futures |
17855.0
|
+202.0
|
+1.14%
|
| Hangseng |
23982.3
|
+32.8
|
+0.14%
|
| Nikkie |
19411.6
|
+165.5
|
+0.86%
|
| SGX Nifty |
8711.5
|
+45.5
|
+0.53%
|
- Asian stocks rose, after a rebound in U.S. equities, as weak economic data eased speculation the Federal Reserve will bring forward plans to raise interest rates.
- The Fed's next statement set to be released on Wednesday following its meeting, investors are on tenterhooks to see whether the Fed will drop the word "patient" from its guidance about the pace at which it will normalize monetary policy.
- Market is expected to open on a positive note and likely to remain strong during the day.
- KPIT lowers its guidance for FY15 in usd due to cross currency headwind. PAT guidance too has been reduced. Co expects flat PAT in FY15
- Tata Motors Ltd, has bagged orders for more than 4,000 buses from states transport authorities under the second phase of the union government's national urban renewal mission.
- Amtek Auto set to acquire Scholz Edelstahl of Germany.
- Piramal Enterprises is in advanced negotiations with Apollo Hospitals to buy the latter's fledgling healthcare software venture Health Super Hi-Way, in what would be a unique marriage between healthcare and Big Data if it goes ahead.
- US-FDA had inspected Granules India’s Gagillapur facility and the inspection concluded with no observations. The inspection was triggered by one of the applicant’s ANDA filing.
- Aditya Birla fabric unit Jaya Shree Textiles eyes Rs 1,000 crore revenue in two years
- Sterlite Copper, part of Vedanta group, is set for a Rs 3,300-crore expansion at Tuticorin in Tamil Nadu.
- Ashoka Buildcon is raising Rs 500 crore via QIP, to fund its aggressive expansion.
- Jindal Power, Balco, and BS Ispat, may end up losing the producing coal mines which they won in the first round of phase I of the auctions. The bids came under the scanner due to extremely low prices quoted by the companies.
- Lupin has inked a pact to acquire an additional 40% stake in South Africa’s Pharma Dynamics, taking its holding in the company to 100%.
- Zee Media’s Board approves rights issue of Rs.196 cr at price of Rs.18/share. The issue would open on March 25, to close on April 8
- Economy Update - Trade Data – Institution Desk: India’s exports contracted for the fourth time in the past five months in February 2015. However, merchandise trade deficit narrowed to the lowest level in almost four years last month (barring September 2013), as imports declined at a faster pace. Interestingly among the top five export items, India’s exports of petroleum products less than halved, while the exports of other four items were largely flat. On the import side, oil imports halved, while imports of valuables - gold, silver and pearls, precious and semi-precious stones were largely unchanged. Notably, non-crude oil non-valuable imports - commodities, capital goods etc - increased last month. Overall, we expect the story of falling exports and a faster decline in imports to continue in March 2015 as well, helping the trade deficit to remain subdued at around US$7bn. Accordingly, we continue to expect India to post its first current account surplus in eight years in the quarter ending March 2015.
