Market Bizzz

Century Textiles, Tata Investment Corp, Mahindra CIE , GMDC, Tatva Chintan , Meghmani Finechem, Maharashtra Scooters, Eveready Industries and Snowman Logistics are the companies that will announce their March quarter results today.

The upsides, if any, are likely to stay capped at 17,500 levels. On the lower side, violating 17,000 would mean some incremental weakness for the markets. The levels of 17,350 and 17,535 will act as immediate resistance points for Nifty. Supports are likely to come in at 17,000 and 16,880 levels.

India’s second largest private bank‘s net interest income registered a 21 per cent on-year rise to Rs 12,605 crore in Jan-Mar from Rs 10,431 crore a year ago.

“One should take a call and look at a few midcap IT companies like both L&T twins which have corrected almost 20 per cent from their peaks,” said Rahul Shah.

There is no plan to delay the offer though as it sees strong domestic appetite for the country’s biggest life insurance company. It could seek special exemption from the market regulator for a sale of less than the 5% stake proposed in the draft offer document and required under the rules, they said.

Commercial papers (CPs) are shorter duration debt instruments generally issued by companies with maturities up to one year. One basis point is 0.01 percentage point.

The main role for monetary policy through a nominal anchor such as CPI is to deliver low and stable long run inflation and IE.