MARKETS LIVE: Crude oil prices, global cues to steer indices on Tuesday

Crude oil prices, global peers, developments around Brexit deal, movement of rupee against the US dollar and stock-specific action are likely to dominate investor sentiment on Tuesday. 

Among key developments, the Reserve Bank of India (RBI) decided to transfer an interim dividend of Rs 28,000 crore to the government in the current financial year (2018-19 or FY19) at its board meeting on Monday. The dividend transfer is likely to aid the government to meet its revised fiscal deficit target of 3.4 per cent of GDP for FY19.

In another news, Vedanta and JSW Steel are in talks to make a joint bid for Essar Steel in a last attempt to keep ArcelorMittal away, said a Business Standard report. 

STOCKS IN FOCUS

Ambuja Cement: The company on Monday reported a nearly three-fold increase in consolidated net profit at Rs 1,377.88 crore in the December 2018 quarter, benefiting from write-back of tax provisions relating to earlier years.

Cipla: The drug major on Monday said it has inked a pact to acquire 11.71 per cent stake in Wellthy Therapeutics.

Infosys: It has settled with Sebi a case of alleged disclosure lapses regarding severance payment made to its former chief financial officer Rajiv Bansal. The company paid Rs 34.35 lakh to settle the case with the markets regulator, according to an order.

ZEEL: US cable company Comcast and Atairos, a $4-billion investment company, and Sony Corp have been shortlisted for talks that could lead to the purchase of a substantial stake in Zee Entertainment, said a report by The Economic Times.

CURRENCY CHECK

The rupee weakened by 11 paise to end 71.34 against the US dollar on Monday amid firming crude oil prices and persistent foreign fund outflows.

GLOBAL MARKETS

Asian stocks were trading mixed in the early trade on Tuesday after a muted session in Europe and a holiday in the US. Shares in Japan were little changed and fell in South Korea, while Australian equities posted modest gains. The US dollar steadied while Treasury yields edged higher.

(with Reuters input)