• U.S. stocks rose, with the Standard & Poor’s 500 Index trimming a weekly decline, as optimism grew that the lawmakers would reach a deal to end the budget impasse and avoid a default on the federal debt. Dow 15072.6.5 +76.1 +0.51%, Dow Futures 14991 -77.0 -0.51% • Asian stocks fell with U.S. futures, and the yen climbed against the dollar, as lawmakers in Washington remain deadlocked over extending the nation’s debt limit to avoid default. Oil slid while gold rallied. China market is closed today. Hangseng 22936.9 -201.7 -0.87% Nikkie 13882.2 -142.1 -1.01%, Sgx Nifty 5928.5 -30.5 -0.51% • Speaker of the House John Boehner vowed not to allow a vote on raising the debt ceiling without having a "serious conversation" about reducing government borrowing. He added that the U.S. is on the path to a credit default. • Market is expected to open weaker note and likely to remain range bound during the day • At least three global private equity firms are in talks to acquire up to 24% stake jointly in Bombay Dyeing, the flagship company of the diversified Wadia Group. The deal could be valued at over Rs 500 crore. • Jubilant Life science’s board has approved a proposal to transfer its active pharmaceutical ingredient (API) and dosage form business to its Singapore-based subsidiary for a total consideration of Rs 1,145.10 crore. • Ranbaxy Laboratories Ltd is looking to buy a manufacturing facility in India to secure its future launches and shift some of its blockbuster drug filings in an attempt to reduce risks arising out of issues with its Mohali plant. (ET) • Petroleum Secretary Rae says that Reliance Industries will get a decision on the price at which it can sell gas from its KG-D6 block in two weeks, • RBI Governor Raghuram Rajan says there is no reason to doubt 5%-5.5% FY14 India growth rate. India has received $5.6b via swap facility • ICICI Bank has raised alarm over loan default by the Dabhol power plant after being rendered idle due to dwindling fuel supplies, indicating the severity of a situation that threatens to turn thousands of cr of rupees given to gas-fired generation projects into bad debt. • CRISIL has downgraded Central bank of India’s tier I bonds and Tier II bonds to “AA” from “AA+” on expected weakening of credit profile on sustained deterioration in asset quality and earnings • Finance Minister P Chidambaram said on Saturday that the RBI would shortly issue seven licences. This announcement came after RBI governor Raghuram Rajan said the first set of new bank licences are most likely to be given out by January, before deputy governor Anand Sinha retires.
Posted on: Mon, 07 Oct 2013 03:28:40 +0000
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