The headline indices ended flat as auto makers extended recent gains on expectations of rising sales, while telecom firms such as Bharti Airtel slumped after Reliance Industries unveiled RJio plans.

The headline indices edged lower after hitting its strongest close in nearly a year in the previous session as caution prevailed ahead of corporate results and investors awaited progress on the GST bill.

The focus today is largely expected to hover around the Power Finance Corporation (PFC) stock as the govt will sell 5 per cent stake in the state firm in a stock market transaction.

For the quarter ended March 2015, overall net profit and net sales of cement companies plunged around 45 per cent and 2.5 per cent, respectively, against the corresponding quarter a year ago.

Overall market breadth remained negative as advances to declines ratio for Nifty remained 1:49 with Bharti Airtel being the only stock in green.

Selling pressure in FMCG, auto and metal stocks also pulled the key benchmark indices lower. The 50-share Nifty fell 0.62 per cent to close at 8,239.75.

The inter-governmental panel, also cleared the pharma firm IPCA Laboratories' proposal to hike FII to 35 per cent entailing an investment of Rs 900 crore.

Swiss major Holcim said it will merge holding firm Holcim India with its unit Ambuja Cements in a cash and share deal to restructure India operations in a two-step process estimated to be about Rs 14,500 crore.

July 2012 has been quite range-bound and with very little action other than in the first fortnight, when we touched a high of 5,350 on the Nifty. The market is in a make-or-break situation.

The wider perception is that the companies will initiate litigation against the Competition Commission of India's penalty and things will take their own course. The case may take years to reach conclusion.

Many investor advisory firms say that intra-group amalgamations are often a ploy by promoters to stealthily enhance their control over and boost valuations of group companies - a charge vociferously denied by promoter groups.

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The company posted a consolidated net profit of Rs 1,262.97 crore for the October-December quarter helped by higher production and sales of the key construction material.

Valuations of cement stocks seem to be reasonably priced. Companies are upgrading their recommendation to ‘reduce’ from ‘sell’.

India’s promising infrastructure development continues to drive the cement sector. The double-digit growth in demand during the last couple of years is likely to continue.

The Swiss giant has already emerged as the country’s largest cement player. How does it plan to consolidate its lead?

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