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IIP growth raises hopes of recovery
Mining, manufacturing grow in double digits.

Nifty may move up to 4,500
The stock market staged a remarkable comeback, thanks mainly to the improvement in global markets coupled with better-than-expected Q1 numbers so far. So ferocious was the pullback that major indices, the Sensex and the Nifty, recovered nearly all its losses suffered during the Budget week.

News of the day

Novartis gains on hopes of flu vaccine order
Novartis India surged over 4% to Rs 447. The scrip touched a high of Rs 450 and a low of Rs 434 during the day. The counter witnessed a volume 13,914 shares, which is more than two-fold increase in its two-week average traded quantity of 5,919 shares.
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Watch out for UN-listed terror funding entities: Sebi to markets

Market regulator Sebi has directed all stock exchanges and other securities intermediaries to keep a strict watch on UN-listed terror funding entities, including the name of underworld don Dawood Ibrahim. - Stock market regulator takes a step forward - SEBI has greater powers than US SEC - Employee output may fall, stress levels to rise: Brokers - Sebi okays longer trading hours - Satyam case: PW opts for consent proceedings - FIIs net sell Rs 479cr, DIIs net buy Rs 173cr The Securities and Exchange Board of India (Sebi) has asked the securities intermediaries to inform the Union home ministry within 24 hours if they find any client, whose particulars match with those of the entries listed by the United Nations. “In the event, particulars of any of customers match the particulars of designated individuals or entities, stock exchanges, depositories and intermediaries shall immediately, not later than 24 hours ... Inform full particulars ... (to) Ministry of Home Affairs,” Sebi said in a statement. The regulator said in case any customer details match the particulars of designated individuals or entities in the list “beyond doubt”, the securities intermediaries “would prevent designated persons from conducting financial transactions”, under intimation to the Home Ministry. According to laid down rules, on receipt of particulars, the home ministry would initiate a verification to be conducted by the state police and the central agencies. The verification would be completed within five days. On confirmation that the properties are owned by or held for the benefit of the designated individuals/entities, an order to freeze the assets would be issued within 24 hours without prior notice to the entity concerned, the Sebi said. As per the UN Security Council Resolution 1373, on receiving requests from foreign countries, countries are obliged to freeze, without delay, the funds or other assets of persons who commit, or attempt to commit, terrorist acts.


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