Among macro economic data, the government will release index of industrial production (IIP) data for December 2014 and the annual rate of inflation based on the combined consumer price indices (CPI) for urban and rural India in January 2015 today later during the day.
Asian stocks and the euro fell on Thursday as markets erred on the side of caution over the ongoing Greek debt negotiations amid conflicting headlines on progress in the talks.
The early indicator SGX Nifty is quoting at 8,665 levels down by 0.2%.
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The Mahindra group is planning to make a big-bang entry into the defence sector, with the acquisition of 25-30 per cent stake in Pipavav Defence, India’s largest private shipyard, based in Gujarat. Banks privy to the deal said the Pipavav Defence board was slated to meet on Friday to approve the transaction.
IDFC Alternatives, the private equity (PE) arm of IDFC, has entered into definitive agreements to sell its controlling stake in Green Infra to Sembcorp Utilities – a wholly-owned subsidiary of Singapore-based Sembcorp Industries. The deal values Green Infra at Rs 4,400 crore.
Syndicate Bank on Wednesday reported a 20 per cent decline in net profit to Rs 305 crore for the December quarter, due to margin compression and increase in tax expenses. The net interest margin declined to 2.25 per cent during the period as compared to 2.76 per cent during the same period of the previous year and 2.57 per cent in the preceding quarter.
Oil traded near $ 50 a barrel after the biggest slide in four days as investors weighed forecasts for slowing US crude output against signs that the market is oversupplied.Hence, Oil Marketing companies are likely to remain in focus.
Zydus Wellness, the consumer products arm of Ahmedabad-based pharmaceutical major Cadila Healthcare, is testing a new variant of its popular low calorie sweetener brand Sugar Free, that has been developed from a South American herb Stevia, in Gujarat market. The company plans to do a national launch later this year.
Hyderabad-based Natco Pharma Limited, which was granted compulsory licence for Bayer’s cancer drug Nexavar (Sorafenib) by the Indian patent office a couple of years ago, today announced that its marketing partner Mylan Inc has filed an abbreviated new drug application (ANDA) for the generic version of the same with the US Federal Drug Administration (US FDA).
National Aluminium Company (Nalco) has recorded 170 per cent jump in its net profit for the quarter ended December 31, 2014 at Rs 354 crore as against Rs 131 crore posted in the corresponding period of previous fiscal.
India Cements Ltd has posted a net loss of Rs 11.68 crore for the quarter ended December 31, 2014, as compared to Rs 0.42 crore net profit during the same period of previous fiscal year. The total income stood at Rs 1040.6 crore for the quarter, as compared to Rs 1038.47 crore for the corresponding quarter of previous fiscal year. The loss is due to the lower capacity utilization.
Tech Mahindra will build more technology development facilities in the United States and Canada and boost local hiring to tap new business opportunities linked to digital technologies, its chief executive officer said on Wednesday.