Mumbai: Asian markets are trading lower. Japan’s Nikkei slumped as much as 2.6% to 14,988 on strengthening currency and fears of continued flight from emerging markets. Read the Reuters report. US markets had also tumbled on Friday. S&P 500 lost more than 2% to 1,790 on concerns of the impact of the stimulus pullback on the global economy, especially the emerging markets. Read The Wall Street Journal report. This week central banks will be in focus. Policymakers at the US Federal Reserve will meet on 28-29 January. Many expect them to reduce the bond-buying stimulus. The Reserve Bank of India will release the quarterly monetary policy review on 28 January. Tata Motors Ltd may witness some action. Karl Slym, managing director of Tata Motors, died in Bangkok on Sunday. The company will name a new managing director or acting managing director this week. Read the Mint report. Keep an eye on telecom stocks. The group of ministers meet today may take a final decision on spectrum fee and mergers and acquisitions norms. Also the telecom industry is unlikely to face stiff competition in February spectrum auction, reports Mint. According to the report, the breakdown of each mobile phone company’s spectrum requirement, recent auction history, and a slew of other factors indicate that the possibility of irrational bidding for radio frequencies is slim. Amid improving demand Infosys Ltd began an off-campus recruitment drive. According to Business Standard, the drive was launched after a gap of two-years. ONGC Videsh Ltd’s $2.1 billion acquisition of Imperial Energy Corp. Plc’s Siberian deposits is under the scanner, with an audit committee examining the process involved in the purchase reports Mint. ONGC Videsh is subsidiary of Oil and Natural Gas Corp. Ltd (ONGC). Maruti Suzuki India Ltd is bidding to enhance its position in the compact car segment with upcoming model Celerio, reports PTI. With the new compact car the company is looking to address three issues associated with automatic transmission cars—high cost of acquisition, low fuel economy and maintenance hassles. Piramal Enterprises Ltd is evaluating a proposal to acquire 5% stake in Axis Bank Ltd, reports Business Standard. Bankers appointed by the Specified Undertaking of Unit Trust of India are preparing to offload government’s stake in Axis Bank. Jet Airways (India) Ltd, the country’s largest airline by passengers carried, cut fares by 10% for the economy class on its international network, reports Mint. The discounted fares are for travel between 1 February and 15 April. Goldman Sachs Group Inc. may acquire 26% stake in medical equipment maker Opto Circuits (India) Ltd, reports PTI. According to the report, the investment bank may buy stake through a combination of existing and fresh equity. GMR Infrastructure Ltd secured the approval of its board for raising upto Rs.2,500 crore by issuing foreign currency convertible bonds or other securities. The fund-raising could be either through a public offer or a private placement. Read more. Lastly, Adani Ports and Special Economic Zone Ltd and SEZ Holding Ltd, Adani Power Ltd, Allahabad Bank Ltd, Escorts Ltd, Hindustan Unilever Ltd, Idea Cellular Ltd, Just Dial Ltd and Shree Cement Ltd are some of the notable companies that will release their December quarter earnings on Monday.
Posted on: Mon, 27 Jan 2014 03:29:24 +0000
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