Share Market Tips

Trading of S&P CNX Nifty futures on the Singapore stock exchange indicates that the Nifty could gain 17.50 points at the opening bell. The market may remain volatile this week as traders roll over positions in the futures & options (F&O) segment from the near month November 2012 series to December 2012 series. The near-month November 2012 derivatives contracts expire on Thursday, 29 November 2012.

Asian shares rose on Monday on the hope Greece can avoid a near-term bankruptcy, with euro-zone finance ministers meeting later in the day, but a regional Spanish vote favouring separatist parties clouded Madrid's push for fiscal austerity.

Tata Steel after market hours Friday, 23 November 2012, announced restructuring proposals to improve the competitiveness of its UK operations so they can successfully perform in changing markets. The news coincides with a decision that the company is to restart Blast Furnace 4 -- one of two blast furnaces in Port Talbot, South Wales, which is being rebuilt as part of a £250 million investment programme -- in the first quarter of 2013. It will also lead to the restarting of the hot strip mill at the company's Llanwern site in Newport, South Wales, Tata Steel said in a statement.

Today's proposals include the restructuring of management and administrative functions which would lead to the loss of 500 jobs at Tata Steel's Port Talbot-based production hub in South Wales. Similar restructuring programmes were initiated last year at the company's other two production hubs, Tata Steel said.

The company is proposing to make changes at a number of steel finishing and processing sites in the UK that would improve its product and service offering for customers. These changes would concentrate services at six distribution and processing hubs which would benefit from £22 million of new investment and new employment, but would also lead to the closure of 12 sites, including Tafarnaubach and Cross Keys in South Wales.

In addition, shift levels at the company's Rotherham and Hartlepool operations will be reduced to match production to lower demand for bar products and pipelines. The proposed changes are expected to lead to a net loss of 900 jobs in the UK, including 580 in South Wales, 155 in Yorkshire, 120 in the West Midlands and 30 in Teesside.

A total bid for 5.16 crore shares were received for government's stake sale in Hindustan Copper (HCL) through the Offer for Sale through Stock Exchange mechanism (OFS). The government has decided to accept the entire number of shares bid for at or above the floor price. Thus, approximately 5.58% of the total paid up share capital of HCL stands divested through this issue. The approximate gross receipts from the issue is Rs 800 crore.