Stock Watch

Indian stock markets were trading with negative bias ahead of public holiday on Tuesday and January series expiry and RBI’s monetary policy declaration later this week.

Passive worldwide markets also dampened the overall reaction.

Indian stock markets crumbled more than 4% during the week for the first time this year on account of aggressive selling action by foreign insitutional investors (FIIs) and owing to China's monetary stiffening and US banks rules.

China`s central bank announced a 50 basis points increase in banks' RRR on Monday and US President Barack Obama projected new limits on the size and trading patterns of big US banking institutions on Thursday.

No positive results could be gained by the stock exchanges' controversial move to advance market opening from 9.55 am to 9 am, on the first day of trading. The basic aim behind this move was to garner more trading transactions.

Zee Entertainment Enterprises Ltd., the largest producer and aggregator of Hindi programming in the world has approved the merger with ETC Network's broadcasting business and Cornershop Entertainment Company in order to consolidate its entertainment business.

The executive vice president of corporate strategy and business development of Zee, Mr. Atul Das has informed that the company is planning to separately run its education division and list it on the stock exchanges in the future.

The Securities and Exchange Board of India (SEBI) has conducted a re-hearing on the National Securities Depository (NSDL) case in order to review the earlier decision of a SEBI committee, which comprised of the non-whole-time board members. The members had decided to dispose off the order against NSDL.

Godrej Properties, promoted by Godrej Industries Ltd and Godrej & Boyce Manufacturing Company Ltd, has fixed the issue price for its initial public offering (IPO) at Rs. 490 per share in order to raise Rs. 460 crore.

The Securities and Exchange Board of India (SEBI) has instructed asset management companies (AMCs) to strictly comply with the guidelines of Association of Mutual Funds in India (Amfi) to enable the investors to easily transact in mutual funds. As per the new guidelines of SEBI, the investors can switch over to a new distributor without obtaining a no-objection certificate (NOC) from their existing distributor.

The Securities & Exchange Board of India has ordered Barclays Plc. to immediately cease all selling or trading of offshore derivatives across India, while accusing the UK bank of providing information which is incorrect, false and misleading.

As talks of reviving Real, the Hindi general entertainment channel, move forward, CEO of the channel, Sunil Lulla, has decided to step down from his position as an important Board of Directors member of Alva Brothers, and relinquished his post at both Real and production house Miditech.

General Insurance Corporation (GIC Re) has so far released Rs 167 crore as insurance claim to the Indian Hotels and EIH Ltd, the operators of prestigious Hotel Taj and Hotel Oberoi that suffered 26/11 terror attacks in Mumbai, claiming several lives and making huge property and heritage loss to the hotels.

GIC Re's Chairman and Managing Director, Yogesh Lohiya, said, "We have released Rs 167 crore to both hotels till now. The renovation work is on and we are waiting for the final report to settle the final claim."