Author: Abhishek

Market Roundup: Dow +0.33% to 13825. S&P flat. Gold -0.04% to $1667. London+1.09%. Germany +0.53%. France +0.70%.

BSE Ltd will float its initial public offer (IPO) in the first quarter of fiscal 2014 through the offer-for-sale (OFS) route. “If the company at is valued at Rs.4,000 crore, the exchange will dilute only 10% to raise Rs.400 crore through the IPO, but if the valuation is lower, 25% stake of the existing shareholders could be sold through the IPO. (MINT)

SKS Microfinance Ltd, [stockquote]SKSMICRO[/stockquote] India’s only listed micro lender, ended a seven-quarter loss-making streak on Thursday by posting a small profit for the three months ended 31 December, helped by higher loan demand in markets outside of Andhra Pradesh and significant cost cuts. (Businessline)

Jaguar Land Rover Ltd (JLR) negative announcements regarding lower profitability, increased capital expenditure and the consequent negative free cash flows led to a dramatic fall of TATA MOTORS Ltd. [stockquote]TATAMOTORS[/stockquote] , [stockquote]TATAMTRDVR[/stockquote]. JLR accounts for around 90% of net profit and 75% of net sales. (MINT)

Natural decline in output from some of the natural gas producing fields coupled with continued fall in output from the country’s largest fields saw the domestic production fall for the 25th straight month in December. To meet the growing petroleum product demand and no significant increase in indigenous output, the domestic refiners were compelled to import more crude oil in December year-on-year. [stockquote]RELIANCE[/stockquote],[stockquote]GAIL[/stockquote],[stockquote]PETRONET[/stockquote]. (Businessline)

An unlikely partnership between profitable FMCG companies like Hindustan Unilevert[stockquote]HINDUNILVR[/stockquote] and Dabur [stockquote]DABUR[/stockquote] and penniless rag-pickers is now offering a hint of a fix to India’s 12,000 tonnes a day plastic junk pile-up. A new way of CSR? (ET)

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Market Roundup: Dow +0.49% to 13779. S&P +0.15% to 1495. Gold -0.17% to $1683. London +0.30%. Germany +0.15%. France -0.40%.

Bharti Airtel Ltd [stockquote]BHARTIARTL[/stockquote] India’s biggest phone company, and No. 4 Idea Cellular Ltd [stockquote]IDEA[/stockquote] on Wednesday reduced the discounts and freebies on offer to customers in telecom zones across the country, effectively raising calling costs for mobile phone users. Vodafone India Ltd, the second biggest mobile phone operator, is expected to follow suit. Will this be sufficient to deliver a significant enough boost to the revenue of the telcos that are hurting because of increased costs, competition and spending on spectrum. (MINT)

SEBI has notified norms that make it mandatory for investment advisers to register with the capital market regulator and also require them to disclose all issues that could result in conflict of interests, among others. Investment advisers also have to disclose the fee received for their advice on a particular financial product. Does this mean we will get better advise? (ET)

Inflation notes have handed investors a 0.5 percent loss since the end of October, versus a 0.2 percent decline for the broader market, according to Bank of America Merrill Lynch indexes. The International Monetary Fund cut its 2013 growth outlook for the U.S. yesterday and the House of Representatives voted to temporarily suspend the nation’s borrowing limit. Treasury Inflation Protected Securities are lagging behind conventional U.S. government debt for a third month before the U.S. sells $15 billion of TIPS today. (Bloomberg)

Late Tuesday, the central bank allowed exporters to access the foreign exchange market without having to first exhaust funds in their foreign currency accounts, reversing a previous restriction imposed when the rupee was plummeting to life lows. The rupee swayed in two-way trade on Wednesday before settling higher, helped by gains in euro and foreign fund related selling. (ET)

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Market Roundup: Dow +0.46% to 13712. S&P +0.44% to 1493. Gold +0.09% to $1693. London -0.03%. Germany -0.68%. France -0.59%.

FIIs began playing an interesting derivatives strategy called ‘covered call and protective put’ last week. They initiated the strategy when Nifty futures traded around 6050-6070, hoping the index would rise to 6100 or slightly above that level till the RBI’s policy declaration on January 29. The markets have priced in a 25-basis points cut, but analysts say indices could correct by 5-7% if the central bank does not cut rates. (ET)

Faced with weak revenue and a rising budget deficit, the government hopes to raise as much as $5.5 billion selling equity in seven state companies before the end of March. It plans to offer a 10% stake in Oil India [stockquote]OIL[/stockquote]valued at about $600 million, 9.5% of power producer NTPC Ltd [stockquote]NTPC[/stockquote]. for about $2.3 billion, and 9.33% of MMTC Ltd.[stockquote]MMTC[/stockquote], India’s largest gold importer, for about $1 billion. (WSJ)

When the Jet Airways [stockquote]JETAIRWAYS[/stockquote] and ETIHAD are at the brink of a collaboration, Indian budget carrier IndiGo is in talks for an alliance with U.K. carrier British Airways. An operating alliance with an international carrier could give the carrier partial access to international destinations in Europe, without adding to its costs. . (WSJ)

Stock markets are supposed to reflect market sentiment. Typically, a buoyant stock market means there are strong proclivities towards growth. But the 2012 picture is quite different going by what has happened around the globe. Global conditions have been weak with uncertain future signals – fiscal cliff, the possible collapse of the Euro zone, stagnation in India and a downturn in China. Here is a take on why it happened? (ET)

Japan shares declined, with the Nikkei (NKY) headed for its first three-day decline since elections were called, as the yen climbed after the Bank of Japan said it will wait a year to add open-ended stimulus. In addition, Japan’s central bank yesterday agreed to set a 2 percent inflation target urged by Prime Minister Shinzo Abe. (Bloomberg)

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