News Today

Sun TV launches ad free movie channels

Chennai: Sun TV Network Ltd announced the start of advertisement-free action movie channels in four south Indian states on Wednesday.

The pay channels are being aired in the local languages - Sun Action in Tamil, Gemini Action in Telugu, Suriyan TV in Kannada and Surya Action in Malayalam.

“Everyone knows Sun TV is a leader in the four southern states. This is just a value addition to the other premium offerings in their bouquet,” said Shreekanth P.V.S an analyst at Mumbai-based Angel Broking.

The Chennai-based Sun TV now has 29 channels, having launched high-definition (HD) versions of its four flagship channels in December.

The advertisement-free strategy may not be permanent, given that the model has not gained traction in India, said another analyst, who didn’t want to be named because of company policy.

“For Sun TV, it is a great brand-building exercise, but whether it will always remain ad free is a question mark. The content cost for the channels will be negligible given their extensive library of 8,000 plus movies,” said the Mumbai-based analyst. “The subscription revenue would be small, but given that they have a well-established direct-to-home (DTH) platform with Sun Direct, we could see takers for this kind of offering.”

It may be difficult to get subscribers in Tamil Nadu as Sun TV is still absent from the state-run Arasu Cable, now a popular distribution medium outside Chennai. Talks are still on with the government to be included, officials said.

The state-run cable operation, which was revived four months ago by chief minister J. Jayalalithaa to curb the near monopoly enjoyed by Sun Cable Vision in Tamil Nadu, has more than 20 million connections, according to chairman K. Radhakrishnan.

Stock Market Latest News

Nifty surges above 4750; Kotak, Tata Steel, DLD gain

MUMBAI: The National Stock Exchange's Nifty extended intraday gains and was near day's highs as investors turned bullish following encouraging Purchase Managers Index data. The Purchasing Managers' Index in India rose to 54.2, the most in six months, from 51 in November. In China, the index was at 50.3 from 49 in November.
According to dealers, if the benchmarks close above intermediate resistance levels then some more upside can be expected in next few sessions.
At 02:45 pm; the Nifty was at 4753.45, up 116.70 points or 2.52 per cent. The broader index touched a high of 4753.75 and low of 4675.80 in trade so far.

The Bombay Stock Exchange's Sensex was at 15882.81, up 364.89 points or 2.35 per cent. The 30-share index touched intraday low of 15640.56 and high of 15906.60. BSE Midcap Index was up 2.28 per cent and BSE Smallcap Index moved 2.12 per cent higher. Amongst the sectoral indices, BSE Metal Index rallied 4.59 per cent, BSE Realty Index gained 3.79 per cent, BSE Bankex moved 3.75 per cent higher and BSE Capital Goods advanced 3.71 per cent. Kotak Bank (6.79%), Tata Steel (5.76%), DLF (5.55%),Tata Motors (5.27%) and IDFC (5.11%) were the major Nifty gainers. Bajaj Auto has unveiled its low cost cast RE60 today. The stock was up 0.51 per cent on the NSE. BPCL (-2.31%), Mahindra & Mahindra (-1.65%), Ambuja Cement (-1.06%) and Hero Moto Corp (-1.03%) were the major index losers. Market breadth was positive on the NSE with 1814 gainers against 673 losers. 

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Bullish on Commodities : Gold can go down to $1200

ET Now: The EU debt crisis, rating downgrades and higher volatility dominated the year 2011. What to your mind will dominate the year 2012? 
Jim Rogers: What will dominate 2012? Well, we have several elections. There are 40 elections in 2012 -- America, France, Korea, Taiwan - lots of places, countries in Africa. So you are going to see a lot of government spending as governments try to buy elections. So a lot of people are going to have a very good 2012 because government is going to pour money into their pockets and their friends and they are going to have a good time. The overall situation, however, in the world is getting worst. This means higher debt. So when 2013 comes, we better be careful. 

Stock Market Latest News

Markets provisionally fall 1.3%; RIL drops

Mumbai: Shares provisionally fell 1.3% on Thursday as concerns about growth prospects deepened on the back of a weakening rupee, while Europe’s debt crisis continued to build worries. Energy major Reliance Industries along with private-sector lenders ICICI Bank and HDFC Bank led the losses.

The main 30-share BSE index provisionally closed down 208.83 points at 15,519.02, with 20 of its components closing in the red.

The 50-share NSE index provisionally closed 1.27% lower at 4,646.25.

Rupee weak on local equities, importer demand

The rupee stayed weak on Thursday due to a sluggish local share market along with subdued global risk appetite ahead of an Italian debt auction, a key event which is expected to give cues on Europe’s economic outlook.Dollar demand from oil importers for month-end payments and on account of defence payments kept the selling pressure on rupee, traders said.

However, a big slide in the rupee was unlikely as the Reserve Bank of India is likely to step in and keep the local unit’s fall under check by selling dollars, they said. The Reserve Bank of India is suspected to have intervened in the foreign exchange market on Wednesday helping rupee recover some losses.

At 2:37 pm, the rupee was at 53.33/34 to the dollar, weaker than Wednesday’s close of 53.07/08, and the unit is likely to stay in range of 53.25 to 53.50 in rest of the session.

India’s benchmark share index was down 0.4% while the euro fell to a fresh 10-year low against the yen on Thursday, driven by selling from Japanese retail investors and exporters.

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Stock Market India|Overview Today

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SHARE MARKET CLOSING|STOCK MARKET REVIEW TODAY 14 OCT :-

The markets gained significantly today with IT being the biggest gainer. The Sensex closed at 17074 (provisional), up 190 points from its previous close, and the Nifty closed at 5132 (provisional), up 54 points. The CNX Midcap index was up 0.4% and the BSE Smallcap index gained 0.3%. The market breadth was negative with advances at 708 against declines of 715 on the NSE.  

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NIFTY reached above 5100, 

STOCKS UP TODAY : Jindal Steel, TCS, RIL up

The 50-share National Stock Exchange benchmark Nifty bounced back and was near day's highs as gains in European markets provided support. Technology, oil&gas and banks led the upmove while realty, metals and capital goods continued to remain in the red. 

The Bombay Stock Exchange's Sensex was at 17048.49, up 164.57 points or 0.97 per cent. The 30-share index touched intraday low of 16828.45 and high of 17063.71. 

BSE Midcap Index was up 0.28 per cent and BSE Smallcap Index gained 0.13 per cent.

Jindal Steel (5.06%), TCS (3.20%), HCL Tech (3.15%), Bharti Airtel (2.57%), Grasim (2.48%) and Reliance Industries (1.93%) were amongst the major Nifty gainers. 

Sesa Goa (-4.25%), Tata Steel (-3.36%), Coal India (-3.31%), Maruti Suzuki (-3.14%) and DLF (-2.10%) were amongst the major losers. 

Market breadth was positive on the NSE with 723 gainers against 726 losers. 

Stock Market Instant

Positive cues from Europe has the Indian market trading at the high point of the day with the Nifty having crossed the 5100 mark. Technology stocks are leading the gainers today. Sensex is at 16990, up 245 points from its previous close, and Nifty is at 5106, up 74 points. CNX Midcap index is up 0.5% and BSE Smallcap index is up 0.9%. The market breadth is positive with advances at 943 against declines of 452 on the NSE.
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Stock Market Latest News for Monday 29 AUG

NSE to launch S&P, Dow Jones futures trading from Monday 29 August 2011:-
"The new contracts will include futures on both the DJIA and the S&P 500 and options on the S&P 500," an NSE release said. Further, in its attempt to boost participation on the futures and options (F&O) contracts, NSE has resolved to not levy any transaction charges on the trades done in the contracts from the date of commencement till February 29, 2012.

Meanwhile, this is the first time that derivative contracts are being launched on global indices in India, it will also be the first case of S&P500 futures being listed on an exchange outside the US.

The S&P500 index consists of 500 leading US firms, representing roughly 75% of the total market capitalisation of the US equity market. DJIA, meanwhile, includes 30 of the most-liquid bluechip companies, representing approximately 28% of the float-adjusted market capitalisation of the US share market.

Global Market Update Live 10 Aug

Nikkei up 102 points
Kospi up 21 points
Sanghai up 46 points
Taiwan up 240 points Hang Seng up 633 points
Strait Times down 22 points
Dow Futures down 47 points
FTSE Futures up 38 points
DAX Futures up 36 points
Dollar Index 74.06 up 0.15 points
Crude 81.75 up 2.45 points

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Stock Market latest News

Sensex slides as selloff intensifies...Nifty around 5550

Selling in the Indian stocks has intensified in late afternoon trade, with the BSE Sensex and the NSE Nifty down almost 1% each. The non-index counters have also witnessed some selling pressure, dragging the overall market breadth into the negative territory.

At 02:45 pm (IST), the BSE Sensex was trading at 18,508, down 145 points or 0.78% over the last close. It had touched the day's high at 18, 765 and day's low at 18,473 with the opening of Rs. 18,756.

The NSE Nifty on the other hand was quoting 5,566, down 47 points or 0.85% after touching a high of 5,645 and a low of 5,555.

Analysts, brokers negative on Wipro, stock down 4%

India's third largest IT company Wipro reported in-line numbers today but analysts were disappointed with the muted guidance for the second quarter. IT earnings have been a mixed bag this quarter, with both Wipro and Infosys reporting lower than expected guidance. TCS, country's largest IT exporter, does not give out guidance but it remained the only big IT company to not take a hit on margins because of wage hikes in the first quarter

Read more here at : Stock Tips Live

Food inflation Latest News

Food inflation surges to 8-week high

Notwithstanding the government's projections of a moderation in the rate of price rise of food items, food inflation jumped to a two-month high of 9.01 per cent for the week ended May 28 on the back of costlier fruits, onions and protein-based items.

Food inflation, as measured by the Wholesale Price Index (WPI), was 8.06 per cent in the previous week, while it was as high as 20.62 per cent during the last week of May, 2010.

The latest numbers are the highest level of food inflation since the week ended March 26 when it had stood at 9.18 per cent. For the last two months, the rate of price rise of food items has been below the 8 per cent mark.
   
As per data released by the government today, fruits became by 30.78 per cent more expensive year-on-year, while onions were up by over 14 per cent.
   
During the week under review, milk prices were up by 8.49 per cent and egg, meat and fish became dearer by 6.99 per cent. Cereals also became costlier by 5.77 per cent on an annual basis.
   
However, the prices of pulses went down by 9.49 per cent year-on-year, while vegetables and potatoes became cheaper by 0.20 per cent and 2.87 per cent.

Inflation in overall primary articles, which have a weight of 20 per cent in the headline WPI, was reported at 11.52 per cent during the week under review, up from 10.87 per cent in the previous week.
   
However, inflation of non-food primary articles fell to 20.97 per cent, as against 21.31 per cent in the previous week. This is likely to bring some cheer to the government and the Reserve Bank, who have termed inflationary pressure from the core (non-food) segment as the biggest threat to the economy in the near future.

In the non-food segment, fibres became dearer by 56.56 per cent year-on-year, while minerals were up 12.11 per cent. Fuel and power became more expensive by 12.46 per cent and petrol by 33.23 per cent on an annual basis during the week under review.

The government and RBI had said that in the months to come, inflationary pressure would be more from core (non-food) items on account of high global prices of commodities, particularly crude.
   
A rise in prices of food items was the main reason for inflationary pressure during 2010. Food inflation was in double digits for most of last year, before showing signs of moderation from March this year.
   
Food inflation had fallen to an 18-month low of 7.47 per cent in the first week of May. However, the prospects for a prolonged moderation now seem to have vanished.

Headline inflation stood at 8.66 per cent in April. The RBI, in its monetary policy for 2011-12, had projected that overall inflation would average 9 per cent during the first half of this fiscal.
   
The latest jump in food inflation numbers comes in the wake of a slew of bad news for the economy. GDP growth of the country slowed to a five-quarter low of 7.8 per cent during the January-March quarter, while the six core industries registered meagre 5.2 per cent expansion in April.
  
Experts had blamed inflation and the resultant rate hikes by the RBI, which resulted in slowing down of investment, for the poor economic growth numbers. The RBI is expected to go for another round of rate hikes at its mid-quarterly review next week.

SOURCE : http://goo.gl/p0kTe

Maruti says talks continue as workers’ strike enters 3rd day

Mumbai: The management of India’s top carmaker Maruti Suzuki is continuing talks with striking workers at its Manesar plant, a company spokesman said, as the strike entered its third day on Tuesday, disrupting output and weighing on its shares.
About 800 workers have been on strike since Saturday at the Manesar plant in Haryana, demanding recognition for a new union. At present, Maruti has one workers’ union that is recognized by the management.
The company has already sacked 11 workers at the plant, the spokesman said.
Maruti Suzuki shares fell as much as 1.7% in early trade on Tuesday, after ending lower the previous day. At 10:24 am, the stock was down 0.9% at Rs1,221 in a flat Mumbai market.
The strike has hit production at the Manesar plant, which makes about 1,200 vehicles a day.
The production loss was estimated at Rs100 crore ($22.3 million) as of Monday, with loss of 600 to 650 units for each of the four shifts affected, the spokesman said. The company has ample stock at the plant currently, he added.
The company, 54.2%-owned by Japan’s Suzuki Motor Corp, operates two manufacturing facilities in India, housing several plants, both in the northern part of the country.
It has been looking to advance its capacity expansion plans to meet booming demand in the fast-growing south Asian country, where vehicle sales grew a record 30% in 2010.
The company plans to invest $1.3 billion over the next three years on manufacturing plants to boost capacity and has considering locations in northern and western India.

SOURCE : http://goo.gl/YzZYF

Stock Market Latest News 2 June

BSE to open SME exchange by September

The small and medium enterprise (SME) exchange of the Bombay Stock Exchange (BSE) will come up by September this year, a top executive said.

"We have received the approval. By September, we will set up the SME exchange. It will be a segment of the exchange, it won't be a different platform," Sayee Srinivasan, head of product strategy at the BSE, said on Wednesday evening.

He said the companies listed for SME segment at the BSE will not need approval of Securities and Exchange Board of India (SEBI).

"Here they (the companies) need the approval from the BSE, they do not have to go to SEBI," he said.

He also informed media persons that the minimum trade size in the SME exchange will be of Rs. 1 lakh.

He said the BSE has been talking to merchant banks for setting up the SME segment. "We are talking to all the major merchant banks. A lot of merchant banks are registered with the SEBI. People are interested."

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