Pre-market: Cautious start likely, RBI policy eyed
Indian stocks are likely to remain cautious as investors await RBI's stance on key policy rates at mid-quarter monetary policy review today.
The key levels to watch out today, would be 5,830 on the downside, below which one can expect fresh weakness, and 5,925 on the upside, sustainability above which can trigger fresh buying.
On the global front, US markets ended firm with Dow Jones, Nasdaq and S&P gaining by 1% each. In Asian, Nikkei, Strait Times, Hang Seng, Taiwan and Kospi gained 0.02-1%. At 700 am Indian Standard Time, the SGX Nifty was trading at 5,907 – up 13 points.
STOCKS TO WATCH
Keep a tab on the interest rate sensitive pack - auto, banks and realty as the Reserve Bank of India reviews the Monetary Policy later in the day today.
Panacea Biotec wins order worth Rs 187.61 crore from the government to supply polio vaccines till May 2013.
Vijay Mallya will pump in Rs 425 crore into Kingfisher Airlines as the first step to kick-start its operations
Godrej Industries said Singapore's Temasek will buy 20% stake in the former's agriculture business unit for Rs 572 crore for expansion plans.
Axis Bank proposes to raise funds by offering 4.58 crore shares by various means, including QIP or GDR.
US-based ConocoPhillips is in talks with ONGC to pick stake in more than one of its ultra-deep-water blocks.
United Phosphorus has completed the buyback of 1.92 crore shares of the company for a total amount of Rs 223.49 crore.
Reliance Power said three of its promoters will offload 5.42% stake in the firm.
Caraco Pharmaceutical Laboratories, the US subsidiary of Sun Pharmaceuticals, has reached an agreement with Takeda Pharmaceuticals USA Inc to buy generic business of URL Pharma, Inc.
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