Indian Share Market may open higher on firm Asian stocks

Key indices may grow in early trade on firm Asian shares. Trading of Nifty 50 index futures on the Singapore stock exchange shows that the Nifty could increase 41 points at the opening bell. In abroad markets, Asian markets picked led by increases in Chinese shares. China's Shanghai Composite was gain 2.68 Per cent. US stock markets continued ended for the President's Day holiday yesterday, 15 Feb. 2016. 

Amid corporate reports, Tata Steel would be in spotlight after clarification. Some media reports recommended that Tata Steel Special Economic Zone (TSSEZ) (a subsidiary company of Tata Steel) is scheduling to invest amid Rs 2000 crore and 2500 crore for development of infrastructure at Gopalpur in Odisha in the near-term. 

With reference to the news items, Tata Steel clarified after market hours yesterday, 15 Feb. 2016 that the Gopalpur Industrial Park is being developed by TSSEZ in Gopalpur, Odisha. The Industrial Park requests primarily to draw investments in defence, manufacturing, aerospace engineering, metal downstream industries, engineering, chemicals and other rising divisions. The industrial park at Gopalpur is likely to draw important assets and produce direct and indirect employment opportunities in the region. 

R-Com-Aircel merger runs into hurdle

Reliance Communications Ltd stocks would be in spotlight as the plan to join its wireless business with smaller rival Aircel Ltd to make a fresh entity is unlikely to be done within 90 days. The merger is subject to the situation that the 2 parties each lessen their debt to less than Rs.10, 000 crore, which is unlikely unless R-Com manages to sell its tower assets and Aircel sells some of its range

Sebi chairman gets one-year extension

The government has expanded U.K. Sinha’s tenure as the chairman of the Sebi for a year, opting for continuity at a time of local and worldwide market instability. With the extension, Sinha becomes 2th fastest serving Sebi chief after D.R. Mehta, who was at the helm for seven years.

Exports continue to slide due to weak demand from Europe

India’s exports shrank 13.06 Per cent in Jan., for the 14th straight month, on sustained bad demand from Europe. Despite bad exports, Reserve Bank of India said it will not track countries such as China and Japan in pushing fall the currency. Imports tapered 11.01 Per cent. Finance minister Arun Jaitley may declare incentives to increase exports in the Budget.

The company added that the reports item with respect to the company's future asset seems have been quoted out of situation. The senior leadership of Tata Steel Special Economic area was responding to a broad inquiry on the likely quantity that will be required for rising infrastructure in the Gopalpur SEZ. The report being broad should not be construed as a verdict of direct asset pledge by Tata Steel. 

There have been no talks about the likely future asset in the project by Tata Steel and hence it is clarified that presently there is no activate for discovery under the Sebi Listing Regulations. 

For now, metal, banking and auto division shares led rally on the local bourses on Monday, 15 Feb. 2016 activated by firmness in worldwide shares. The indicator index, the S&P BSE Sensex, leaped 568 points or 2.47 Per cent to stay at 23,554.12.