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Monday, 30 December 2013
INDIAN EQUITY MARKET OUTLOOK-31 Dec 2013
INDIAN BENCHMARKS are likely to remain range-bound on the last day of 2013 tracking mixed global cues. Investors will watch the April-November fiscal deficit reading due today. Cooper terminating the stake sale arrangement with Apollo Tyres.
FURTHER, GAIL India has received environmental clearance for setting up a 220MW gas-based power plant at Raigad in Maharashtra at a cost of Rs10.2bn. GMR signed an agreement with Malaysian Airports Holding Berhad to divest its 40 per cent equity stake which operates services at the former, for Rs19bn.
Trend in FII flows: The FIIs were net buyers of Rs. 116cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 207cr, as per the provisional figures released by the NSE.