Market is expected to open on flat note, we can see Nifty spot to trade around 5220-5215 in opening trade, if Nifty spot able to cross the 5250 level we could see some support buying to initiate in market, Nifty spot is having resistance at 5250-5280 above 5280 we can see some comfort in market and it could move till 5320, whereas Nifty spot is having supports at 5210-5180 below that we may see some selling pressure in market and it could slide lower till 5150.
BOARD MEETING
• INFO EDGE (INDIA), to mull issue of bonus shares, dividend.
• PANTALOON RETAIL (INDIA), to consider debenture, warrant issue.
• PREMIER EXPLOSIVES, to consider setting up a joint venture overseas.
DATA ALERT FROM OVERSEAS
• UK CIPS SERVICES PMI for Apr.
• EU PPI for Mar.
• US CHALLENGER JOB-CUT REPORT for Apr.
• EU INTEREST RATE ANNOUNCEMENT.
• US JOBLESS CLAIMS REPORT for wk to Apr 28.
• US PRELIMINARY PRODUCTIVITY & COSTS for first quarter.
• US WEEKLY EXPORT SALES.
• US DJ-BTMU BUSINESS BAROMETER for week to Apr 21.
• US ISM NON-MANUFACTURING REPORT for Apr.
• US EIA WEEKLY NATURAL GAS STORAGE REPORT for week to Apr 27.
• US ICSC CHAIN STORE SALES TRENDS for Apr.
DATA ALERT FROM INDIA
• SERVICES, COMPOSITE PMI for Apr, by HSBC.
MARKET NEWS:
• RBI issues Basel III guidelines
• Govt may waive penalty on past Vodafone-like deals
• Power tariffs to be linked to fuel
• Kingfisher Airline served eviction notice for defaulting on rent
• Tata Motors, Fiat end car sales joint venture
• Andhra to take back land allotted to Brahmani Steels, may offer SAIL
• GMR Power drags TNEB to SC over non-payment of 6 bln rupee dues
• HDIL plans 100-acre township in Noida, first project outside Mumbai
• Odisha considers cap on iron ore production
• Madhucon Projects consortium, Indonesia govt in power supply pact
• Alstom T&D completes balance of plan work for Essar's power project
• ACC: Despatched 2.07 mln tn cement in April against 2.05 mln tn a year ago, and produced 2.17 mln tn of the commodity against 2.06 mln tn a year ago.
• ALOK INDUSTRIES: Three promoter group entities bought 4.3 mln shares of the company, raising their stake by a total of 0.52%.
• AMBUJA CEMENTS: Despatched 1.86 mln tn cement in April compared with 1.83 mln tn a year ago. Output rose to 1.91 mln tn from 1.81 mln tn.
• ASHOK LEYLAND: Sold 8,686 vehicles in April compared with 5,543 units a year ago.
• CAIRN INDIA: Has pegged its Krishna Godavari block find at about 550 mln barrels equivalent of in-place oil and gas.
• ESSAR OIL: Plans to cut imports from Iran by as much as 15%.
• HT MEDIA: TRIDENT has entered into a two-year agreement with the company for advertising in print publications.
• KINGFISHER AIRLINES: Has said it was not aware of any "alleged" analysis of its financial records by the Ministry of Corporate Affairs, nor of any "alleged" analysis report.
• PANTALOON RETAIL: Is planning to raise 2.34 bln rupees via a preferential issue at a price of 234 rupees a share.
• RURAL ELECTRIFICATION CORP: Moody's Investors Service has affirmed the foreign currency long-term issuer ratings of the company at Baa3 with stable outlook.
• STEEL AUTHORITY OF INDIA: The Andhra Pradesh government is set to take back over 14,000 acres of land allotted to Bhramani Steels, and to allot this land to SAIL to set up an integrated steel project in Kadapa district.
Sector wise news
• BANKING: Reserve Bank of India has issued final guidelines for implementation of Basel III capital regulations, which will come into effect in a phased manner from Jan 1.The capital requirement for the implementation of Basel III is estimated at 1.5 trln rupees.
• MINING: The Odisha government may impose a cap on iron ore production in the state, and has allegedly begun work to restrict production to about 52 mln ton annually. The state produced about 75 mln ton in 2010-11.
• OIL AND GAS: Nagarjuna Oil Corp will begin work on the 120-bln-rupee expansion of its oil refinery in Tamil Nadu in 2014.
• POWER: The power ministry will allow producers to raise tariffs if fuel costs of new projects rise, and will not oppose a hike in domestic gas prices.
BOARD MEETING
• INFO EDGE (INDIA), to mull issue of bonus shares, dividend.
• PANTALOON RETAIL (INDIA), to consider debenture, warrant issue.
• PREMIER EXPLOSIVES, to consider setting up a joint venture overseas.
DATA ALERT FROM OVERSEAS
• UK CIPS SERVICES PMI for Apr.
• EU PPI for Mar.
• US CHALLENGER JOB-CUT REPORT for Apr.
• EU INTEREST RATE ANNOUNCEMENT.
• US JOBLESS CLAIMS REPORT for wk to Apr 28.
• US PRELIMINARY PRODUCTIVITY & COSTS for first quarter.
• US WEEKLY EXPORT SALES.
• US DJ-BTMU BUSINESS BAROMETER for week to Apr 21.
• US ISM NON-MANUFACTURING REPORT for Apr.
• US EIA WEEKLY NATURAL GAS STORAGE REPORT for week to Apr 27.
• US ICSC CHAIN STORE SALES TRENDS for Apr.
DATA ALERT FROM INDIA
• SERVICES, COMPOSITE PMI for Apr, by HSBC.
MARKET NEWS:
• RBI issues Basel III guidelines
• Govt may waive penalty on past Vodafone-like deals
• Power tariffs to be linked to fuel
• Kingfisher Airline served eviction notice for defaulting on rent
• Tata Motors, Fiat end car sales joint venture
• Andhra to take back land allotted to Brahmani Steels, may offer SAIL
• GMR Power drags TNEB to SC over non-payment of 6 bln rupee dues
• HDIL plans 100-acre township in Noida, first project outside Mumbai
• Odisha considers cap on iron ore production
• Madhucon Projects consortium, Indonesia govt in power supply pact
• Alstom T&D completes balance of plan work for Essar's power project
• ACC: Despatched 2.07 mln tn cement in April against 2.05 mln tn a year ago, and produced 2.17 mln tn of the commodity against 2.06 mln tn a year ago.
• ALOK INDUSTRIES: Three promoter group entities bought 4.3 mln shares of the company, raising their stake by a total of 0.52%.
• AMBUJA CEMENTS: Despatched 1.86 mln tn cement in April compared with 1.83 mln tn a year ago. Output rose to 1.91 mln tn from 1.81 mln tn.
• ASHOK LEYLAND: Sold 8,686 vehicles in April compared with 5,543 units a year ago.
• CAIRN INDIA: Has pegged its Krishna Godavari block find at about 550 mln barrels equivalent of in-place oil and gas.
• ESSAR OIL: Plans to cut imports from Iran by as much as 15%.
• HT MEDIA: TRIDENT has entered into a two-year agreement with the company for advertising in print publications.
• KINGFISHER AIRLINES: Has said it was not aware of any "alleged" analysis of its financial records by the Ministry of Corporate Affairs, nor of any "alleged" analysis report.
• PANTALOON RETAIL: Is planning to raise 2.34 bln rupees via a preferential issue at a price of 234 rupees a share.
• RURAL ELECTRIFICATION CORP: Moody's Investors Service has affirmed the foreign currency long-term issuer ratings of the company at Baa3 with stable outlook.
• STEEL AUTHORITY OF INDIA: The Andhra Pradesh government is set to take back over 14,000 acres of land allotted to Bhramani Steels, and to allot this land to SAIL to set up an integrated steel project in Kadapa district.
Sector wise news
• BANKING: Reserve Bank of India has issued final guidelines for implementation of Basel III capital regulations, which will come into effect in a phased manner from Jan 1.The capital requirement for the implementation of Basel III is estimated at 1.5 trln rupees.
• MINING: The Odisha government may impose a cap on iron ore production in the state, and has allegedly begun work to restrict production to about 52 mln ton annually. The state produced about 75 mln ton in 2010-11.
• OIL AND GAS: Nagarjuna Oil Corp will begin work on the 120-bln-rupee expansion of its oil refinery in Tamil Nadu in 2014.
• POWER: The power ministry will allow producers to raise tariffs if fuel costs of new projects rise, and will not oppose a hike in domestic gas prices.
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