Global market cues
US stocks ended slightly higher in a volatile half-day session on Wednesday as traders squared positions before the holiday and Friday’s job market data.(Reuters)
Asian stocks opened to little fanfare on Thursday with investors cautious as key events including the European Central Bank meeting and the US non-farm payrolls report loomed.(Reuters)
Gold edged higher for a second session on Thursday on safe-haven buying, bolstered by a weaker dollar and drops in Asian stocks after mixed US economic data added to worries over Europe and China. (Reuters)
[caption id=“attachment_927125” align=“alignleft” width=“380”]  Image used for representational purposes only. AFP[/caption]
Stock in news
Mangalore Chemicals, as a three-way battle for control of the company is brewing afterDeepak Fertilsers bought about 24 percent stake in it. The promoter UB group has about 28 percent in the company and Zuari Agro about 10 percent.
Hindustan Unilever, as today is the last for parent Unilever’s open offer for the company that aimed to buy about 22 percent in the Indian arm to raise its stake to 75 percent.
Bank of India, after itcutits base rate by 0.25 percent to 10 percent.
Hindustan Copper, after the company’s offer for sale of 37 million shares on Wednesday was subscribed 1.2 times.
Jet Airways, as its stake deal with Abu Dhabi’s Etihad Airways continues to be in limbo.Minister Ajit Singh told Economic Times that vested interests are trying to delay the deal.
Economy news:
The proposed ordinance on food security was cleared on Wednesday at a meeting of the Union Cabinet. However it will still need to be passed in both house of Parliament within six weeks of its next seating before it can be made into law.
More than a year after gross irregularities in coal allocation surfaced raising a storm of controversy, the coal ministry allocated 14coal blockswith reserves exceeding 8,311 million tonne (MT) to power sector companies under the new Competitive Bidding of Coal Mines Rules notified in 2012.