Markets expected to open in the green in-line with global markets;
On the stock front
Ø Infosys CEO Salil Parekh will be paid a fixed salary of Rs 6.5 crores and would be eligible for variable pay of Rs 9.75 crores at the end of the 2018-2019 fiscal year, according to a top company executive.
Ø Shares of Navkar Corporation added 4 percent in the early trade as Ashish Kacholia has acquired stake in the company. Investor, Ashish Rameshchandra Kacholia has bought 10,00,000 shares (0.7 percent) of the company at Rs 187 on the NSE. Also, Everest Finance And Investment Company bought 10,00,000 shares at Rs 187.06 on the BSE.
· Major Asian markets are trading in the green at present. Shanghai Composite is up 0.33%, Hang Seng is up 0.24 %, while the Nikkei is trading 2.41% higher.
· US markets: Stocks moved mostly higher during yesterday's trade. The major averages finished the day firmly in positive territory with Dow and Nasdaq closing at record highs. The Dow rose 0.4% to 24,922.68, the Nasdaq advanced 0.8% to 7,065.53 and the S&P 500 climbed 0.6% to 2,713.06
· European markets closed in the green yesterday with FTSE up 0.30%, CAX up 0.80% and DAX up 0.82%.
Major Headlines of the day:
· Greaves Cotton to make new BS-VI engines for Piaggio
· Aurionpro Solutions subsidiary Cyberinc to sell its Identity and Access Management business to KPMG in an all cash deal worth Rs 217.6 cr
· HPCL: ONGC may pay Rs 45,000 cr (45 % premium to market cap) for company's stake
· Shanghai-based Fosun Group is in advanced discussions to invest Rs 800 cr ($125 million) in southern developer Nitesh Estates in what would be the Chinese conglomerate's first M&A deal in the Indian real estate sector
· Tata Motors December Auto Sales (YoY) - Total JLR US Sales Dn 9.4% At 11,394 Units Vs 12,573 Units.
Trend in FII flows: The FIIs were Net Value of Rs 96.31 the cash segment on Wednesday while the DIIs were Net Value of Rs -269.20 as per the provisional figures.
Securities in Ban For Trade Date 04-JAN-2017:
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