Events to watch 13/11/2013

WORLD MARKET
Asian shares sagged and the dollar stuck close to a twomonth
high against the yen in early trade on Wednesday as
investors positioned for the possibility that the U.S. Federal
Reserve would soon start slowing down its asset-buying
stimulus.
The Dow and the S&P 500 ended slightly lower on Tuesday
after rising bond yields increased debate over how soon the
Federal Reserve would start trimming its stimulus program.
European shares edged lower on Tuesday as a fresh set of
weak corporate results put the brakes on a rally that had
pushed a major regional equity index to a five-year high last
week.
MARKET OUTLOOK FOR TODAY

Today, our markets are expected to open on a cautious note
on bets the Federal Reserve may start reducing US stimulus
next month. Among Asian peers, Nikkei 225 is trading lower
followed by a report that the country's machinery orders
dropped in September from August. Shanghai composite is
advancing despite news that China's leaders failed to give
details about a policy shift in a meeting scheduled yesterday.
Back-home, investors will be looking forward for quarterly
results from companies like Cipla, BPCL, and Coal India.
Major equity indices in the US closed lower on Tuesday.
Snapping a two-day winning streak, S&P 500 and DOW ended
lower, and the NASDAQ ended flat, followed by an
unexpectedly strong October jobs reports and on news that
the US economy expanded at an annual rate of 2.8% in the
third quarter.
Investors will now be following Thursday's confirmation
hearing for Janet Yellen, who has been nominated to succeed

Fed Chairman Ben Bernanke. They'll look for clues about when
the Fed may begin to scale back its economic stimulus.
Globally, Gold recovered slightly on Wednesday from the
previous session's four-week trough but looked likely to test
further lows on fresh uncertainty over the fate of the U.S.
central bank's commodities-friendly stimulus measures.
FIIs remained net buyers in equity worth Rs. 347 crs in the
last session but SGX nifty trading lower by about 35 points at
this morning may also put a sell button on nifty at the opening bell.

MAJOR NEWS

India’s industrial production in the month had risen a mere two per cent from that a year back, compared
with 0.4 per cent in August. The tepid show was mainly on account of a continued decline in output of
capital goods, as high interest rates kept demand for consumer durables low.

The country’s leading bankers are almost certain of a third consecutive policy rate increase from the
Reserve Bank of India in its mid-quarter policy review next month.

D-Street favorites queue up at RBI for higher FII investment limit. As per RBI norms, default FII limit in a
company is 24% and in case of PSU banks it is 20%.
ECONOMY NEWS

Rising vegetable prices catapulted the Consumer Price Index (CPI)-based inflation to double digits in
October, after a gap of six months, even as normal monsoon is expected to yield a bumper crop this
financial year.

As the rupee continued to slide and stock markets persisted with heavy selling pressure, the finance
ministry swung into action to assure foreign institutional investors (FIIs) of a slew of measures to increase
their participation in currency derivatives and debt markets.

The Uttar Pradesh government asked the sugar industry to safeguard the interests of farmers, in the
backdrop of delay in start of the cane crushing season.
INTERNATIONAL NEWS

Vodafone Group Plc. will plow billions into improving its network speed and coverage as it works to
reverse service-sales declines that trailed analysts' estimates.

Morgan Stanley lowered its industry view on internet stocks to “in-line” from “attractive,” saying growth in
the sector needs to accelerate to justify current valuations.

Alibaba Group, China’s largest e-commerce company, broke its one-day sales record by more than 80 per
cent as it heads toward an initial public offering that may be valued higher than Facebook Inc.
COMPANY NEWS

Tata Motors told the Supreme Court that it wanted to retain the land given to it in Singur, West Bengal,
for its Nano small car project, even though it has moved the plant and machinery to Gujarat.

Continuing with this year's trend of declining automobile sales, passenger vehicle sales stood at 239,137
units in October, a two per cent fall from to the year-ago period.

The Competition Commission of India (CCI) has given its nod to the Jet Airways-Etihad deal, paving the
way for the Abu Dhabi-based airline to acquire 24 per cent in the Indian carrier.

Idea Cellular sees higher margins from data rate cut. Joins Vodafone and Reliance Comm in slashing data
tariffs.

Reliance Communications posted a sixfold increase in second quarter net profit at Rs 675 crore against Rs
102 crore in the same quarter last year.

Ludhiana-based Vardhman Textiles, one of the leading textile companies in India, recorded highest-ever
quarterly net profit of Rs 177.81 crore for the quarter ended September, 2013.

Government-owned India Infrastructure Finance Company Limited (IIFCL) would be raising Rs 5,800 crore
through tax-free bonds in two equal installments -- the first one in the third or the fourth week of this

month and the next in January.