INDIAN BENCHMARKS opened higher tracking gains in overseas markets. Coal India may be in focus after the second round of the road shows for the partial stake sale will be held from November 18-26. Shares of Amara Raja jumps around 5 percent on the back of strong September quarter earnings. Banking shares are trading higher by up to 4%, extending its Thursday’s rally, after the Reserve Bank of India (RBI) Governor expressed comfort about the narrowing current account deficit.
FUTHER, Brokerage house UBS has cut its rating on India to 'neutral' from 'overweight'. Apollo Tyres is likely to be in focus after the US-based Cooper Tire & Rubber approached the Delaware Supreme Court after a lower court said that Apollo Tyres had not breached obligations on the take-over. The hearing has been fixed for December 19, 2013.Companies that announced their results and could see some action include, HCL Info systems, Hind Motors.
Trend in FII flows: The FIIs were net buyers of Rs 2624cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 1249cr, as per the provisional figures released by the NSE.
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