New Delhi

Budget, Q3 earnings, global factors to drive stocks

The stock market is likely to track a host of key domestic and global events this week like the interim Budget for 2019-20, January derivatives expiry, quarterly earnings from bluechips and the US Fed interest rate decision, say experts.

";Market may extend the range bound movement as global risk factors like the US-China trade talks and growth concern continued to gain investors' attention," said Vinod Nair, Head of Research, Geojit Financial Services.

 A lot of events are lined up - like the Budget, Federal Open Market

NCLT allows Guild Builders to top up shares of Omaxe

In a recent development, National Company Law Tribunal (NCLT) Bench, Chandigarh, has allowed Guild Builders to continue to further top up more shares of realty firm Omaxe to meet top-up or margin call requirements if needed. Guild Builders is the parent company of real estate major Omaxe Limited.

Vodafone Idea rights issue by February-end; smooth sailing seen

Vodafone Idea Ltd's upcoming rights issue of Rs 25,000 crore will hit the market in February-end to partly pare its rising debt currently at around Rs 1.14 lakh crore and meet the spectrum dues to the government and is expected to be fully subscribed on the non-promoters' portion or the public part of the issue, market sources said.

More trouble for debt MFs as two IL&FS SPVs default on payment

In fresh trouble for mutual funds from infrastructure contagion, two special purpose vehicles of IL&FS subsidiary IL&FS Transportation Networks (ITNL) have defaulted on debt repayment.

The two special purpose vehicles (SPVs) are Jharkhand Road Projects Implementation Company (JRPIC) and North Karnataka Expressway (NKEL). The two SPVs have, in turn, demanded a refund of debt payments from IL&FS Trustees.

Rescue plan for gas-based power plants in works

The government proposes to use the National Clean Energy Fund (NCEF) to support gas-based power projects, including the 31 stressed ones, as it looks to launch one of the biggest rescue operations for these clean fuel-run power plants that are on the verge of complete shutdown in the absence of fuel and viable power purchase agreement.

GIC, New India OFS to hit market this fiscal

The government is determined to push the public issues of listed insurance majors, GIC and New Indian Assurance, this fiscal.

The department of investment and public asset management (Dipam) will appoint merchant bankers for offer for sale (OFS) of shares in the two insurers next month, official sources said.

The move is to augment the current selloff proceeds of Rs 35,000 crore, which is way below the budget target of Rs 80,000 crore.

Maruti Q3 profit down 17%; biggest quarterly fall in nearly 5 years

Maruti Suzuki India (MSI) on Friday reported its second successive decline in quarterly net profit with a 17.21 per cent drop for the third quarter ended December 2018, also the steepest fall in nearly five years.

The India's largest carmaker said its performance in the quarter was adversely impacted by lower-than-expected sales in festive season and high commodity prices and unfavourable foreign exchange rates.

President urges people to perform the ‘sacred act’ of voting

President Ram Nath Kovind on Friday exhorted the people to perform the "sacred act" of voting, emphasising this year's polls should be seen as a "once-in-a-century moment" that will shape the India of the remainder of the 21st century.

Observing that an election is not just a political exercise, Kovind said it is a collective call to wisdom and a collective call to action, adding the ideas and idealism of our democracy will come into force to elect the 17th Lok Sabha.

RSS urges Modi to resist US push to ease e-commerce curbs

A Hindu nationalist group close to Prime Minister Narendra Modi’s party has urged him to resist pressure from the United States and not defer new regulations for the e-commerce sector, according to a letter seen by Reuters.

The economic wing of the group, Rashtriya Swayamsevak Sangh (RSS), which is the fountainhead of the ruling party, has written to Modi saying that changing the policy implementation date, under pressure from Washington, will hurt 130 million small Indian entrepreneurs.

InterGlobe Aviation jumps over 6%; m-cap rises by Rs 2,555 cr

Shares of InterGlobe Aviation surged over 6 per cent Thursday after the company reported a rise in yield in the quarter ended December 2018.

The stock rose by 6 per cent to close at Rs 1,174.40 on the BSE. Intra-day, it jumped 6.86 per cent to Rs 1,184.

At the National Stock Exchange (NSE), shares of the company soared 6.24 per cent to settle at Rs 1,178.55 apiece.

Market valuation of InterGlobe Aviation, parent firm of IndiGo, rose by Rs 2,554.74 crore to Rs 45,144.74 crore on the BSE.