Peabody Energy Corp.

Peabody Energy Corp., the biggest U.S. coal company, made an unsolicited initial cash proposal to buy Australia’s Macarthur Coal Ltd. for A$3.3 billion ($3 billion) amid surging demand for the fuel in Asia. Most Asian stocks declined amid concerns a rally that took the MSCI Asia Pacific Index to a 10- week high yesterday had overvalued earnings prospects. The board of Dubai World property unit Nakheel, including its chairman, was replaced as the emirate, pushed forward with restructuring its debt-saddled chief conglomerate in an attempt to salvage Dubai's reputation as a regional investment haven. Corporate bonds are rallying for the fourth straight quarter, the longest streak since 2004, extending a record advance as 72 per cent of companies beat analysts’ earnings expectations. Consumers in the U.S. gained confidence in March as the gloom over job prospects began to lift, indicating employment will be central to preserving the recent acceleration in spending. The Conference Board’s confidence index rose to 52.5, exceeding the median forecast of economists surveyed by Bloomberg News, from 46.4 in February, according to figures today from the New York research group. Finance Ministry has decided to defer the levy of 10 per cent service tax on railway freight by three months. Private sector is expected to contribute up to $500 billion for development of the infrastructure sector during the 12th Plan. Nine telcos get the nod to participate in 3G bids. Cement companies may hike prices by Rs. 7 to pass on the rise in input costs. Steel prices are set to rise by Rs 2,000 to Rs 3,000 a tonne from April on the back of a spike in input costs. Bharti Airtel has clinched the deal to buy most of the African operations of Kuwait's Zain for $9 billion, making it the second-largest cellular firm on the continent. Tata Steel's European arm Corus is open to dialogue for strategic tie-ups with investors having sound financials, to rescue its recently mothballed Teesside Cast Products (TCP) plant in England. Crompton Greaves has completed the acquisition of UK-based Power Technology Solutions (PTS) for 30 million pound. Larsen & Toubro has bagged orders worth Rs 1,126 crore for various construction related works. Tata Motors has sold 20 per cent stake in Telcon, its construction equipment joint venture with Japan's Hitachi, to its partner for Rs 1,159 crore. JMC Projects (India) has bagged NHAI's Rohtak-Bawal project. Areva T&D has won a gas substation order worth Rs 70 cr. Jubilant Organosys Ltd has a fixed a floor price of Rs 344.5 per share for its qualified institutional placement (QIP).
Hero Honda has declared a special dividend of 4000% (Rs. 80 per share) to reward shareholders to mark their silver jubilee this year. Tata Motors has reduced its debt by Rs. 1500 cr as bondholders have opted for conversion of bonds into shares before maturity. ITC has tied-up with La Aurora for its cigar business. JSL raises Rs. 250 cr through a QIP issue to part fund its expansion plan. Max India may sell 4% in Max New York Life Insurance to Axis Bank. Abhishek Industries is planning to invest Rs. 2000 cr to double its manufacturing capacity over the next 2-3 years. Omaxe plans to raise Rs. 800 cr through QIP to reduce debt and fund ongoing projects. NMDC is likely to raise iron ore prices by 70%. Nifty April contracts ends the Day down by 44.90 points at a premium of 11.45 points in April contracts and paring OI in all Nifty contracts by 1.6%. Nifty VIX at 19.80 % compared to 18.73% previous day rising by 5.71%. Nifty OI PCR at 1.166 compared to 1.162 the previous day. Nifty puts sees addition of 22.14 Lakhs and calls sees addition of 18.41 Lakhs over the Day.
Highest OI in Nifty calls seen at 5300 April strike and puts at 5200 April strike.
Long build up during the session seen in NATIONALUM, SESAGOA, NAGARCONST, CHENNPETRO, TATAMOTORS, BGRENERGY & UNIONBANK. Short build up was seen in EDUCOMP, CNXIT, OPTOCIRCUI, TECHM, LUPIN, INFOSYSTCH, HCLTECH, ABAN, HEROHONDA, MPHASIS, RENUKA & POLARIS etc. Long liquidation and short build up was seen in Nifty futures from the FII side. Short build up seen in Stock futures from the FII side. Nifty options was seen adding during the day from the FII side.