Market likely to test Feb lows; upswing seen by Dec

Market will remain rangebound for a while, but is likely to test the lows seen in February.Feel good sentiment in the wake of the Union Budget and the Fed decision to pause on rates.he implementation of the Seventh Pay Commission, a good monsoon and rate cuts feeding into the economy will improve sentiment for equities. According to Jaipuria, pharma stocks are not cheap at current levels, but investors can hold on to them. He expects volatility in these shares in the run up to the Presidential elections in the US. He does not see crude prices rallying too much this year as the demand equation is still weak.

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Draghi tells EU leaders he can't fix the economy on his own

European Central Bank President Mario Draghi warned European leaders on Thursday that monetary policy alone would not be enough to jump-start the economy and that governments needed to do their job by pushing through structural reforms. "I made clear that even though monetary policy has been really the only policy driving the recovery in the last few years, it cannot address some basic structural weaknesses of the euro zone economy," Draghi told reporters. 

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The market started off last day of the week on a positive note, tracking global and oil rally. The 30-share BSE Sensex rose 79.40 points to 24756.77 and the Nifty advanced 21.65 points to 7534.20. Hindalco Industries, Bharti Airtel, TCS, ONGC, Adani Ports, Idea Cellular, Cairn India and Vedanta gained 1-2 percent while Lupin fell 2 percent on CLSA downgrade. Sun Pharma, HUL, Dr Reddy's Labs and BPCL were other losers.

Asian shares edged higher on Friday, turning positive for the year, while the US dollar weakened broadly after the Federal Reserve's cautious stance on further rate increases prompted investors to rebuild their bets on riskier assets.

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The S&P BSE Sensex rose as much as 90 points in early morning trade on Friday, led by gains in TCS, Infosys, RIL, ICICI Bank, Bharti Airtel, and ONGC.The Nifty50 was trading comfortably above its crucial level of 7500 supported by gains in realty, oil & gas, capital goods, metal, consumer durable, and banking stocks. 

The NSE Nifty rose 0.18 percent on Thursday tracking a rally in Asian markets after the U.S. Federal Reserve signalled fewer rate hikes this year, but profit-taking capped broader advances.

Bharti Airtel to acquire Videocon Telecom spectrum for Rs 4428cr

India's largest telecom operator (by subcriber base) Bharti Airtel   has acquired Videocon Telecom for Rs 4,428 crore.  Bharti Airtel will get rights to use 2X5 MHZ in 1800 band allocated to Videocon by the Government of India, Ministry of Communication & IT, Department of Telecommunication (DoT) on April 5, 2013.   On Wednesday, Idea Cellular   had terminated its spectrum deal with Videocon under which it was supposed to buy two circles - Gujarat and Uttar Pradesh (West) - for Rs 3,310 crore. Post the deal, Bharti’s 4G coverage will go upto 19 circles from the current 15. 

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Steel industry to see better days, worst behind us: Tata Steel

The steel industry is likely to see good days ahead as the "worst is behind us", Tata Steel   India Managing Director T V Narendran said today. "The worst is behind us," Narendran said on the sidelines of CII's annual regional conference here. Referring to steel prices, Narendran said he did not wish to predict their range for the next few months, but said domestic steel price was still lower than minimum import price (MIP) imposed by the government in February.

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If this pace of net foreign buying is maintained for the rest of the month, she is potentially looking at a USD 12-13 billion month. According to her, biggest recipients are Taiwan, Korea, India and Thailand.The market has opened higher on Fed's move. The Sensex is up 230.07 points or 0.9 percent at 24912.55, and the Nifty is up 70.40 points or 0.9 percent at 7569.15. About 616 shares have advanced, 124 shares declined, and 19 shares are unchanged. ICICI Bank, Hindalco, GAIL, Tata Steel and Tata Motors are top gainers.

Indian markets joined a global rally triggered by the Fed's decision to hold interest rates steady, while lowering expectations for the number of rate hikes this year. The US central bank noted that the American economy continues to face external risks.

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The S&P BSE Sensex surged over 200 points in morning trade on Thursday after the US Federal Reserve maintained its status-quo stance on the key benchmark rate, after reduced the number of interest rate hikes expected this year to two from four earlier.The Nifty50 reclaimed its crucial psychological level of 7,550 supported by gains in realty, power, oil & gas, metal, consumer durable, and banking stocks. The Sensex has closed higher by 131 points on Wednesday while the 50-share Nifty50 ended at 7,498.

Indian shares clawed back losses to close higher on Wednesday, led by gains in beaten-down healthcare stocks such as Lupin and as a rise in crude oil prices propped up global markets.The benchmark BSE index rose 0.53 percent to end at 24,682.48, while the broader NSE index ended up 0.51 percent at 7,498.75.

India could be a global change agent for renewable energy: US

With India setting an ambitious target of generating 175 gigawatts of clean energy by 2022, a top US official said that India has the potential to be "a change agent" for the rest of the world in the renewable sector though the transformation process is going to be tough. "India could really be a change agent for the rest of the world in the renewable energy sector if they get it right. So we have a vested interest in helping them get that right," Deputy Assistant Secretary of State for Energy Transformation Melanie Nakagawa said.

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4 Hospital IPOs in 3 mnths: Appetite left for Healthcare Global?

The issue has already raised Rs 292 crore from 11 anchor investors, at higher end of price band of Rs 218 per share. Nearly one third of anchor investment is allotted to IFC (Rs 95 cr), while rest were bought by Sabre Partners, Citi, Sundaram MF, HDFC Std Life Insurance, Reliance Life, Chennai 2007. Bangalore-based HealthCare Global Enterprises initial public offering (IPO) has opened for subscription Wednesday. The issue which will close on March 18, priced at Rs 205-218 per share is planning to raise Rs 611 crore to Rs 650 crore. This is fourth healthcare IPO from December and Dr Lals, Alkem and Narayana Healthcare have received overwhelming response at debut. 

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The market has opened flat on Wednesday. The Sensex is down 43.78 points or 0.2 percent at 24507.39, and the Nifty is down 3.55 points at 7457.05. About 290 shares have advanced, 147 shares declined, and 33 shares are unchanged. BHEL, Adani Ports, Lupin, L&T and Infosys are top gainers in the Sensex. Among the losers are Bajaj Auto, Dr Reddy's Labs, HDFC, ICICI Bank and Tata Motors.

 The Sensex and Nifty edged lower in the opening deals on Wednesday tracking mixed global cues as markets waited anxiously for the Federal Reserve to provide guidance on the risk of US rate hikes this year.

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The S&P BSE Sensex started on a cautious note in morning trade on Wednesday with a negative bias. The fall in the index was led by losses in HDFC, ICICI Bank, Bajaj Auto, TCS and Asian Paints. The Nifty50 was trading near its crucial psychological support level of 7,450 weighed down by losses in IT, metal, consumer durable, banks, and auto stocks. The BSE Sensex had closed lower by 253 points on Tuesday while the NSE Nifty50 tanked 78 points.

India's stock markets fell on Tuesday, a day after hitting a six-week high, dragged down by pharma stocks with Lupin (LUPN.NS) hurting the most, and as Asian equities languished after the Bank of Japan offered a bleaker view of the country's economy.The benchmark BSE Sensex ended down 1.02 percent at 24,551.17, while the broader NSE Nifty fell 1.04 percent to end at 7,460.60.

Most of FII inflows are via ETFs

There has been an increase in foreign institutional inflows (FIIs) in the last few weeks, mainly via the exchange-traded funds (ETFs), says Dhananjay Sinha of Emkay Global Financial Services. ETF is a marketable security that tracks bonds or an index. Sinha says there are expectations of a rate cut by the Reserve Bank on back of falling inflation reflected in the consumer price index (CPI) data. Sinha continues to be positive on Lupin   despite recent US Food and Drug Administration (USFDA) observations on the Goa plant. He is also bullish on Tata Motors   . Sinha says the global commodity prices seem to have bottomed out and the Federal Reserve will get more justification for normalcy, increasing chances of a rate hike.

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Crisis-hit banking sector: Who is to be blamed?

The Vijay Mallya mess has thrown up deeper questions about the health of the banking sector and concerns on whether and why banks aren't going after defaulting borrowers with more aggression? Simultaneously, there is also a fear on the back of public anger with respect to bad loans, whether bankers will become extremely risk averse? Charan Singh, executive director of UCO Bank , says most of these borrowers don't have any cashflow and selling assets is not easy either. He also cites the example of the steel sector which is under severe distress. According to him, the situation is such that both buyers and investors are not there in the market. Hence, the only other option is to continue with existing managements, and sell non-core and personal assets. He says for SDR to be a success, a lot of different measures will have to be taken.

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Equity benchmarks started off Tuesday on a negative note, tracking tepid Asian cues. The 30-share BSE Sensex fell 34 points to 24770.28 and the 50-share NSE Nifty declined 17.25 points to 7521.50. Lupin crashed 6 percent on Goa facility inspection by USFDA. HDFC and Sun Pharma declined over a percent while Infosys, SBI, TCS, L&T, Axis Bank and Maruti Suzuki gained 0.2-0.8 percent.

The broader markets were trading on a mixed note. The BSE mid-cap index was down 0.12 per cent while the small-cap index was up 0.16 per cent.The Sensex and Nifty are likely to open on a flat note tracking flat Nifty futures on the Singapore Stock Exchange amid subdued global cues.

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The S&P BSE Sensex started on a flat note with a negative bias on Monday after the Bank of Japan decided to continue applying a negative interest rate of minus 0.1 per cent and keeps monetary base target unchanged at 80 trillion. The Nifty50 was trading near its crucial psychological support level of 7500 weighed down by losses in power, oil & gas, metal, and telecom stocks. 

Tata Motors rose 3.4 percent, posting its second session of gains, after the auto maker said on Friday global wholesale sales in February, including that of Jaguar Land Rover, grew 17 percent from last year.

Sebi proposes 25% voting right threshold for 'control'

Seeking to define 'control' in case of merger and acquisitions involving listed companies, Sebi today proposed a 25 per cent voting right threshold or the right to appoint majority of directors as determining factors to identify the controlling entity. Launching a public consultation process, the regulator said the final decision on putting in place 'bright-line tests for acquisition of control' under takeover regulations would be taken after looking into views of all stakeholders.

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Elite should be more liberal in giving up LPG subsidy: Pradhan

Oil Minister Dharmendra Pradhan has exhorted the affluent class to be more liberal in giving up their LPG subsidy as a study draws a grim picture of their contribution towards the scheme. "We did a sample study (taking one lakh sample size) of those giving up LPG subsidy. Only three percent of people who gave up their subsidy, were earning more than Rs 10 lakh," Pradhan said addressing TalentNomics-ICRIER Conference on Empowering Women for Sustainable Development.

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The market has opened on a strong note Monday. The Sensex is up 174.69 points or 0.7 percent at 24892.68 and the Nifty is up 51.70 points or 0.7 percent at 7561.90. About 598 shares have advanced, 110 shares declined, and 36 shares are unchanged. Tata Motors, ICICI Bank, Hindalco, Adani Ports and Tata Steel are top gainers while Coal India, Bharti Airtel and BHEL are losers in the Sensex.

Buying was visible across the sectors barring metal stocks. Banking stocks were among the leading gainers. The banking sub index on the NSE, Bank Nifty rose 1.5 per cent. Realty, auto and capital goods indices also advanced around 1 per cent each.

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The S&P BSE Sensex rallied nearly 200 points in morning trade on Monday, led by gains in ICICI Bank, Tata Motors, ITC, HDFC, and Infosys.The Nifty50 reclaimed its crucial psychological level of 7550 supported by gains in realty, power, oil & gas, banks, auto, and capital goods stocks. 

Indians stock markets edged higher on Friday in a volatile session as energy companies such as Reliance Industries rallied after the country simplified oil and gas licensing rules, while property developers gained after parliament passed a real estate bill.