STOCK MARKET NEWS TODAY 16 june

STOCK MARKET/STOCK TIPS/STOCK MARKET NEWS TODAY 16 june

Economy & Industry News:

• RBI will publish mid term credit policy today.
• Vegetable oil imports increased 19% in May to 6.64 lakh tonnes owing to low supply of domestic oil seeds.

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Corporate News:

• SFIO to probe Cement Company. Ambuja cement, ACC & Ultratech are in top list. (ET)
• GVK to buy 2 coal mines in Australia for around $2.4 billion (Rs 10, 730 cr).
• ONGC to sell 30% stake in K-G block.

• ATF prices hiked by 2.4%; no immediate comment from airlines
• Ashok Leyland board decides to issue bonus shares (1:1).
• Lupin acquires global rights for Australian brand Goanna
• Nagarjuna Construction set to secure Rs 5,000-cr EPC deal from Krishnapatnam thermal project
• Siemens to invest €150 m in Denmark for expanding wind power business.
• Moser Baer ties-up with US distribution co for photovoltaic modules
• Rallis begins production at Dahej unit
• Tata Motors global sales up 11% in May
• Ministry clears 30% stake sale in 23 RIL oil, gas blocks to BP
• Lanco has dropped plan to bid Australian Premier Coal Mine.
• Shriram Transport Finance to raise Rs 1000 cr from debentures sale.

Global Updates:

• Asian stocks fell for a second day and the euro traded near a three-week low against the dollar on concern that debt-ridden Greece will default. Oil rebounded from a four-month low.
• Consumer price inflation softened in May on a decline in energy costs. The consumer price index in May grew at a 0.2% rate, down from 0.4% in April.
• Industrial production posted a modest rise in May but was held back by a drop in utilities. Overall industrial production in May edged up 0.1%, following no change in April (originally unchanged).
• Empire State Mfg Survey: The Empire State index fell in the June reading to minus 7.79 vs 11.88 in what the report describes as a "steep" decline. New orders fell nearly 21 points to minus 3.61, again a negative reading indicating month-to-month contraction compared to May. Shipments are even worse, down nearly 35 points to minus 8.02.