Market Outlook for the day – RBI monetary policy will be the key event to watch and it will be having direct impact on the stock market.
Tata Power had commissioned its second 25 megawatts solar farm in Palaswadi, Maharashtra. This Rs. 250 crore solar farm, is expected to generate about 46 million units annually and enable Tata Power meet its solar renewable purchase obligation.
Arvind limited rose 5.7% on NSE after the Arvind OG Nonwovens, a joint venture between Arvind and OG Corporation of Japan, inaugurated its manufacturing facilities near Ahmedabad, Gujarat, on 31 May 2014.
Bajaj Auto Ltd, has reported a moderate increase in sales of motorcycles and commercial vehicles in May 2014 compared to the same month last year on account of a substantial pick up in exports. It had witnessed a 40 per cent increase in exports in May this year.
Maruti Suzuki India Ltd has witnessed a 19% increase in sales aided by robust sales performance in its compact segment during May 2014 compared to the same month a year ago.
HSBC India Manufacturing PMI for May 2014 came at 51.4 Vs 51.3(MOM) indicated that production volumes at Indian manufacturers continued to rise. Growth of both total new orders and new export business accelerated over the month. The output rose for the seventh consecutive month in May.
Event on June 03, 2014: RBI Credit Policy Review
Markets have edged higher and closed on a positive note amid initial volatility. Banking, Capital Goods, Oil & Gas and Metal sectors were the key leaders on the flip side, FMCG and Healthcare remain key laggards during the session. Rate sensitive Realty stocks also remain positive as the RBI is expected to leave its key lending rates unchanged in its credit policy review scheduled on June 03, 2014. The BSE Mid-Cap index was up 183 points or 2.16%, whereas the BSE Small-Cap index was up 181 points or 2.01%; both underperforming the Sensex.