Moneycontrol BureauLive Market Commentary
9:50 am Buzzing: Jet Airways falls 2 percent as in an unexpected move, Jet Airways Chief Executive Officer (CEO) Gary Kenneth Toomey announced his immediate departure from the airline.
"Gary Kenneth Toomey, chief executive of the company has resigned with immediate effect," Jet Airways said in a BSE filing.
Toomey, who was appointed only last June on a three-year contract, could not be immediately reached for comments. Ravishankar Gopalakrishnan, the chief financial officer of the airline, will officiate as the "acting chief executive officer" till the board appoints a new chief, the airline said.
9:40 am Boardroom: TCS chief executive N Chandrasekaran expects India business to be slack over the next three quarters, even as the company boasts of a strong international deal pipeline.
In an interview to CNBC-TV18's Menaka Doshi, Chandrasekaran said public sector deal decisions in India were getting postponed. And while TCS is hopeful of the FY15 being a strong year for the company, Chandrasekaran is not factoring a big growth in its India business.
He is bullish on the US, European and Latin American markets, and on the digital business. He said the company was hopeful of better prices once volumes in digital picked up. Chandrasekaran is betting on a USD 4-5 billion opportunity in the digital space.
9:30 am Big fall! Coal India fell nearly 10 percent in early trade as the stock is quoting ex-dividend. The country's largest coal mining company on January 14 announced an interim dividend of Rs 29 per share for the financial year 2013-14.
The company has fixed January 20 as the record date for the purpose of payment of interim divided that will be paid on and from January 25.
Coal India will pay total dividend of Rs 18,317 crore and out of that the government, which holds 90 percent shareholding, will get Rs 16,485.71 crore.
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The market opened on a flat note. The Sensex is down 35.11 points at 21230.07, and the Nifty is down 12.65 points at 6306.25. About 191 shares have advanced, 122 shares declined, and 122 shares are unchanged.
Coal India lost 9 percent as it is quoting ex-dividend, while TCS fell 3 percent post announcing its third quarter results. BHEL, ICICI Bank and ONGC are other laggards in the Sensex. Axis Bank, Tata Steel, Bharti Airtel, Cipla and Reliance are other gainers in the Sensex.
Indian rupee opened higher at 61.50 against US dollar on Friday versus previous day's closing value of 61.53 per dollar.
The US dollar fades a little in early trade after two days of gains, as a run of mixed US economic data left the market uncertain about its future direction.
Wall Street closed Thurdsay lower on disappointing earnings. The S&P 500 slipped from its record highs. Europe too closed in the red while Asia is soft in morning trade.
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