Events to watch today 22/11/2013

WORLD MARKET
The Dow industrials closed above 16,000 for the first
time on Thursday as stocks rebounded from three days of
weakness, after economic data pointed to a slowly
improving labor market and subdued inflation.
European shares edged lower on Thursday as worries
resurfaced over an eventual scaling back of U.S. economic
stimulus measures, but the Spanish and Italian markets
outperformed.
Japanese stocks scaled six-month peaks on Friday as the
yen took a spill, though other Asian markets lagged
behind as investors become resigned to an inevitable
slowdown in U.S. stimulus.

MARKET OUTLOOK FOR TODAY
The major Indian equity averages are likely to open higher
today, on the back of positive cues from the overseas
markets.
Among Asian peers, Nikkei 225 is trading above the
neutral line as the yen weakened against the dollar,
boosting the earnings outlook for Japanese exporters.
Further, reports that Bank of Japan Governor Haruhiko
Kuroda maintained monetary easing and Prime Minister
Shinzo Abe sought to surprise the nation out of 15 years of
deflation, also cheered the investors. Shanghai Composite
and Hang Seng are also trading higher in the early trading.
The US stocks closed higher on Thursday, halting a threeday
drop in S&P500 Index, raising hopes for a recovery in
the world’s largest economy. As per the US Labor
Department, jobless claims dropped by 21,000 to 323,000
against the last week’s reading of 344,000, boosting
outlook of the economy. Meanwhile, the Senate Banking
Committee approved Janet Yellen's nomination to become
the first woman to lead the Federal Reserve Thursday
morning. Yellen is the current vice chair of the Fed, has
been nominated to chair the Fed after Ben Bernanke's
term ends in early 2014. On corporate front, the shares of
General Motors Co. advanced as the US Treasury
Department said it plans to sell its remaining stake in the
company, possibly by year end.
FII were net seller in cash segment of equity market of Rs.
59.80 crores. They turned net seller for first time after 33
trading session.
SGX Nifty is trading at 6031.oo up by 7 points from
previous trading session which suggest that markets are set to open on flat to positive note.
MAJOR NEWS

The Supreme Court came down heavily on the Sahara group after it found that the group had not satisfactorily
complied with the court’s October order to submit title deeds of properties worth over Rs 20,000 crore. The
court imposed restrictions on the entire group from selling any immoveable or moveable property and barred its
promoter Subrata Roy Sahara from leaving the country.

The front line companies may have been struggling on the profitability front due to rising interest costs, high
interest burden and a weak currency, but a host of smaller companies have taken the market by surprise with
their sterling performance. More than 10 per cent (274) of the 2,575 actively-traded companies on BSE have
surpassed their net profits of last year (2012-13) in just six months of this year
ECONOMY NEWS

To push the next round of the New Exploration Licensing Policy (Nelp) for the petroleum sector, minister M
Veerappa Moily will conduct an investors’ meet in Mumbai.

While petroleum minister M Veerappa Moily has expressed an intention for full decontrol of diesel prices in six
months, this could remain as wishful thinking if not followed with a heavier dose of such increases.

Finance Minister P Chidambaram appealed to foreign investors to invest in India, assuring lower fiscal deficit and
current account deficit (CAD), stable currency, high growth and moderate inflation.
INTERNATIONAL NEWS

China has released new rules to boost spending in its fast-growing e-commerce sector as it looks to encourage
greater levels of domestic demand after the country's leaders announced its most ambitious reforms in decades
earlier this month.

The Senate Banking Committee approved Janet Yellen's nomination to become the first woman to lead the
Federal Reserve, sending it to the full Senate for a final vote.

US factory output rebounded this month but hiring remained sluggish, while business activity across the Euro
zone and at China's manufacturers slowed, surveys showed.
COMPANY NEWS

India’s largest business house, Tata Group, on Thursday said it had increased its spending on research and
development (R&D) to 22.5 per cent at Rs 13,223 crore in 2012-13.

Cadila to sell cheaper lung cancer drug in India by Dec. Company to sell Mycidac-C in Saarc nations, Africa &
developed countries.

Tata Motors, Ashok Leyland to offer fully-built vehicles. With fully-built vehicles on offer, buyers of trucks and
buses can get the final product directly from manufacturers, instead of approaching body builders with a chassis

Indian manufacturing gets currency boost. This year, opposite moves of the rupee and the yuan has made the
sector competitive.

Auto parts makers plan 50-Mw solar capacity in TN. At today's rate, setting up a one mega watt of solar farm
would cost Rs 6-6.5 cr.

Sterling Group, subsidiary Sterling Biotech Ltd’s lenders have approved a restructuring plan of US $250 million
(approx. Rs 1,575 crore at current exchange rate) bonds for a period of five years.

Kirloskar Oil Engines is all set to invest Rs 100 crore in capacity building and technology as it eyes to become an
end-to-end products provider and enter new geographies over the next two years, said senior officials.