The next major trigger for the market is Q3 December 2013 corporate earnings. Investors and analysts will closely watch the management commentary that would accompany the results to see if there is any revision in their future earnings forecast of the company for the current year and/or the next year. The Q3 earnings season begins on Friday, 10 January 2014, the day when IT major Infosys and private sector bank IndusInd Bank unveil Q3 results.
Market Economics will unveil the result of a monthly survey on the performance of India’s services sector for December 2013 on Monday, 6 January 2014. The HSBC Services Purchasing Managers’ Index (PMI), compiled by Markit, nudged up to 47.2 in November from 47.1 in October.
Highlights of the Week
- Indian Bank, Indian Overseas Bank launch special drive for home loans.
- No new capital needed for 2 years post Rs 11.5K cr QIP: SBI.
- Banks free to charge ‘reasonable ATM fees’: RBI’s Chakrabarty.
- Aachi Kitchen plans Chettinad restaurant chains in five locations this year.
- HUL & Nestle reducing amount of tomato paste in ketchups amid rising costs & competition.
- Rs 35 cr handloom institute to be set up in Machilipatnam.
- DERC proposes new power regulations to help fix tariff.
- Reliance Industries to increase KG-D6 gas output.
- Petrol price hiked by 91 paise a litre, diesel by 56 paise over volatile global oil.
- Lanco says it got favourable APTEL ruling in Amarkantak issue.
- Flipkart plans to sell white goods, furniture.
- MOIL hikes prices by 7.5 per cent across product basket for Jan-Mar.
- Coal Ministry deallocates Rathi Udyog’s mine in Chhattisgarh.
- Tata Steel mulls price increase.
- Kopran’s consumer division lines up 15 new products in 2014.
- Health ministry sought tough laws for drugs, clinical trials.
- Multi-layer protection for Singhs in Daiichi Sankyo-Ranbaxy agreement.
- Government decides to amend AICTE Act.
- PM stresses on importance of investing in education.
- Delhi government’s decision to seek CAG audit turns focus on telecom.
- Telecom department sets up panel to take call on ‘priority routing’.
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