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Sensex, Nifty to begin week on a weak note

Sensex, Nifty to begin week on a weak note

Asian markets are trading lower ahead of central bank meetings in the US and Japan this week and amid jitters over the upcoming referendum on whether the UK will remain in the European Union. Nikkei 225 and Hang Seng slipped 2.5% each.

The indices are set to open on a weak note. Asian markets are trading lower ahead of central bank meetings in the US and Japan this week and amid jitters over the upcoming referendum on whether the UK will remain in the European Union. Nikkei 225 and Hang Seng slipped 2.5% each.

​​US markets closed lower on Friday, with the Dow Jones Industrial Average down 0.67% at 17,865.34 points. The S&P 500 was off by 0.92% at 2,096.07, and the Nasdaq Composite lost 1.29% at 4,894.55 points.

Investors also remained cautious ahead of CPI data for May which is scheduled to be released later in the day.

India's foreign exchange reserves hit a record high at $363.46 billion for the week ended June 3. The Reserve Bank of India's reserves increased by $3 billion last week from $360.19 billion a week before, official data showed.

Sheela Foam Pvt. Ltd, which sells mattresses under the Sleepwell brand, plans to raise as much as Rs.500 crore through an initial public offering (IPO) by March, says report.

Among other stocks in focus are:

Dr Reddy’s Laboratories: The pharma company has inked a pact with Teva Pharmaceutical and an affiliate of Allergan Plc to buy a portfolio of eight abbreviated new drug applications (ANDAs) in the US for $ 350 million (around Rs 2,300 crore) in cash.

Coal India Ltd: Coal India's two subsidiaries Mahanadi Coalfields and Northern Coalfields will buyback total shares worth around Rs.1,978 crore from their shareholders.

Reliance Communications: The telecom company is set to launch 4G services on its own across India in phases, starting mid-August from the key circles of Mumbai, Delhi, Kolkata, says report.

HDFC: HDFC has announced its plans to raise Rs.1,000 crore from debentures to fund business growth model.

Maruti Suzuki: Maruti Suzuki India Ltd is planning to begin production at its two factories in Haryana from Monday, according to reports.

SBI: The company has set up a crack team to prepare a framework for amalgamation of five associate banks with itself, says report.

Tata Steel: Chief Minister of Odisha, Naveen Patnaik inaugurated the 100-bed Tata Steel funded Super Specialty Eye Care Hospital at Samarjhola village under Hinjilicut block of Ganjam district.

Canara Bank: The bank is set to raise Rs.5 billion this fiscal by selling stake in its non-core assets after it posted a huge loss in fiscal year 2015-16, says report.

Intellect Design Arena Ltd: The company is reportedly planning to raise around Rs.3 billion.

PVR: The company has earmarked a capital expenditure of up to Rs 250 crore for the current fiscal for opening new screens and refurbishing the existing ones, says report.

Vedanta: The company is reportedly planning to acquire coal mines via auctions.

Jet Airways: The airline has announced new direct flights from Mangaluru to Sharjah in UAE from August 7, says report.
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