New York: 07:56 || London: 12:56 || Mumbai: 16:26 || Singapore: 18:56

Reports India

Indian stock market and companies daily report (March 05, 2014, Wednesday)

March 5, 2014, Wednesday, 05:40 GMT | 00:40 EST | 10:10 IST | 12:40 SGT
Contributed by Angel Broking


Indian Markets are expected to open in green tracking positive opening trades in most of the Asian indices, as concerns about a confrontation between Russia and Ukraine eased.

The US markets rallied on Tuesday, with the S&P 500 closing at a record after reports that Russian troops ended military exercises in the border regions with Ukraine, easing political tensions between Ukraine and Russia over the Crimean peninsula. With no economic reports scheduled, geopolitical news dominated Tuesday's trading. Investors welcomed news that Russian President Vladimir Putin ordered troops stationed on the border with Ukraine back to base after the completion of military exercises. Meanwhile, European stocks also rallied on Tuesday amid hopes for a diplomatic solution to the conflict between Russia and Ukraine.

The Indian markets rallied on Tuesday as concerns over the crisis in Ukraine eased. The safe-have Japanese yen fell sharply, gold prices dropped from a 17-week high, Brent crude prices fell below US$110 a barrel and the rupee pulled back from its day's low of 62.14 per dollar in the wake of reports that Russia has ended military exercise along its western border.


Markets Today

The trend deciding level for the day is 21,125 / 6,272 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 21,309 - 21,409 / 6,328 - 6,358 levels. However, if NIFTY trades below 21,125 / 6,272 levels for the first half-an-hour of trade then it may correct 21,025 - 20,841 / 6,242 - 6,185 levels.


TCS in partnership with Microsoft business solutions

Tata Consultancy Services (TCS) announced a partnership with Microsoft Business Solutions (MBS) for the development of online and on-premise versions of Microsoft Dynamics CRM. The announcement was made yesterday at the annual Microsoft Dynamics Convergence Conference in Georgia, Atlanta. As part of this partnership, TCS has established a development centre to support the upcoming releases and updates to the Microsoft Dynamics CRM Roadmap. The development centre is focused on enhancing roadmap platform through the development of innovative marketing business applications and enhancements to core technology and mobility platforms. TCS has also invested in a test centre which comprises of a team of more than 150 highly-skilled engineers. The team is working to identify and create solutions that will improve the user experience, drive process agility and automation, and deliver CRM on the go capabilities. We continue to remain positive on TCS with a target price of Rs.2,625.


Reliance Jio-Bharti Infratel sign agreement to share tower infra

Reliance Jio Infocomm signed an agreement with Bharti Infratel to utilize the telecom tower infrastructure of the latter to launch its services across the country. This agreement is in line with the earlier comprehensive telecom infrastructure sharing arrangement with Bharti Airtel aimed at avoiding duplication of infrastructure, wherever possible, and to preserve capital and the environment. Reliance Jio Infocomm is a subsidiary of Reliance Industries Limited and the first telecom operator to hold pan-India Unified Licence. We maintain our Neutral rating on Bharti Airtel.


Economic and Political News

- Expenditure limit for Lok Sabha elections raised to Rs.70 lakh

- Karnataka invites bids for supply of 1,000Mw power

- October-February sugar production declines 10.6%


Corporate News

- Coal ministry deducts bank guarantee of Chhendipada block

- GMR Infra forays into railway construction sector

- IVRCL bags orders worth Rs.2,633cr

- LIC buys 4.6% stake in BHEL

- PNB sells its entire Stake in Credit Information Bureau India Ltd. (CIBIL) to TransUnion International

- Wipro Launches cloud-based product lifecycle management service

Stock Market Forum