What is the trend of the stock market?

Answer 1

Corporate News - Industry trends

* The governments disinvestment programme made a muted restart

with the Cabinet Committee on Economic Affairs (CCEA)

approving the part-sale of its stake in two power companies NTPC and

Satluj Jal Vidyut Nigam (SJVNL) - but postponing a decision on the

overall disinvestment policy (BS)

* The high-pitched Reliance Industries Ltd and Reliance Natural

Resources Ltd dispute is scheduled for an afternoon hearing in the

Supreme Court on Tuesday (BS)

* A CABINET committee approved the sale of 5% in NTPC in one of the

most ambitious equity sales in a state-owned firm that could fetch the

government around Rs 90bn at current market prices (ET)

* Megnasolace City Pvt Ltd, a special purpose vehicle set up for the

Mumbai IT/ITES SEZ project coming up at Thane, is looking at

raising US$216 mn through private equity to acquire up to 250 acres

to complete the first (BS)

* Mukesh Ambani, after completing the world's largest oil refining

complex at Jamnagar in Gujarat, has now set his eyes on owning

refining assets in the US and Europe; His RIL has initiated preliminary

discussions with US-based refiners such as Valero Energy Corp, Sunoco

Inc and Flying J Inc for acquiring refineries, said sources (BS)

* Workers' unions in the Gurgaon-Manesar industrial belt in Haryana

have called for a one-day strike on Tuesday to protest the death of a

labourer in a group clash at a plant of auto component maker, Rico

Auto (BS)

* Currency volatility is a concern for India's largest information

technology company, Tata Consultancy Services. So much so, that it

has taken new hedging positions worth US$135 mn for the quarter

ending December 31 (BS)

* The government approved Norwegian telecom company Telenor's

proposal to raise stake in its Indian joint venture Unitech Wireless to

74%, the maximum permitted in the sector (BS)

* TATA-QUIPPO, the telecom tower venture between the Tatas and

Kolkata-based Kanorias of Srei Group, is in advanced stages of

negotiations with New York-based private equity fund Apollo

Management to finance acquisition of cellular operator Aircel's tower

assets, should it win the bid (ET)

* TVS Motor Company is gearing up to launch the country's first

motorcycle with automatic clutch by the end of this calendar year (BL)

* Additional cement capacities of nearly 31 mn tonnes (across 33

projects) are expected to be commissioned in the second half of this

fiscal at an investment of Rs 79.6bn (BL)

*UCO Bank is likely to raise Rs 9-9.5 bn from a follow-on-public offer

after a strong rally in the Stock Market (Mint)

* A consortium of Lanco Infratech has won coal-bed methane gas

exploration blocks at Talcher and the ib valley in Orissa in the latest

round of bids that concluded on 12 October (Mint)

Economic/Regulatory development

The Centre, cleared a proposal to shift to a monthly Wholesale Price

Index series instead of the current weekly one, with the base year to

be changed to 2004-05 from 1993-94 at present (BL)

International trends

Federal investigators are gearing up to file charges against a wider

array of insider-trading networks, some linked to the criminal case

against billionaire hedge-fund manager Raj Rajaratnam that shook

Wall Street last week, people familiar with the matter said (BS)

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