The Reserve Bank of India's (RBI) next move on monetary policy and announcements by the new government are likely to set the tone for the equity market in the week ahead.

Players said major positive news flow on these fronts can help the market break out from the current levels, where the market has been consolidating after the election outcome.

In a historic event marking culmination of the long-drawn process of the bifurcation of Andhra Pradesh, Telangana Rashtra Samithi (TRS) President K Chandrasekhar Rao took oath as the first chief minister of Telangana, which became the 29th state of the country on Monday.

A year ago, when India’s second-largest information technology (IT) services company, Infosys, brought back iconic co-founder N R Narayana Murthy as executive chairman, about two years after his retirement, the decision was welcomed with much fanfare.

Despite a shrinking market share and declining profitability, Murthy’s return helped Infosys get a double thumbs-up from investors. While the company’s shares rose around five per cent in the first trade after the announcement of Murthy’s return, they surged nearly 30 per cent over the next three months.

State-owned Air India is likely to seek permission from the new government of Prime Minister Narendra Modi to raise Rs 10,000 crore through an issue of tax-free bonds in the current financial year.

The airline is additionally seeking immediate cash infusion of Rs 3,000 crore to repay loans it had taken last year to clear dues to vendors, in the event of a shortfall in the equity infusion earlier promised by the government.

The National Highways Authority of India (NHAI) has served showcause notices for termination and debarment on GVK Transportation for failure to mobilise the needed money for the Rs 2,815-crore Shivpuri-Dewas project in Madhya Pradesh.

JM Financial Institutional Securities, on behalf of Independent Media Trust, represented by its trustee Sanchar Content Private Ltd, together with Reliance Industries Ltd (RIL) and Reliance Industrial Investments and Holdings, has made an offer for the acquisition of up to 22.99 crore equity shares of Network18 Media & Investments Ltd, constituting the remaining 21.96 per cent at a price of Rs.41.04 a share aggregating to Rs.943.70 crore.

Smart farm sector growth spurred India’s economy to grow 4.7 per cent in 2013-14, according to the gross domestic product (GDP) provisional estimates released on Friday. The GDP growth rate in the previous year was a decade-low of 4.5 per cent. This is the second year in a row during which the economy’s growth remained below the 5 percent.

Four persons were killed and 11 injured when a fire broke out in a hotel in Jammu in the early hours on Saturday.

The incident occurred in Hotel Neelam in bus stand area of Jammu city at around 02.30 a.m., police said.

As the smoke started billowing out of the three-storey building, police and fire service personnel rushed to the spot and launched operation to rescue the people trapped in the hotel.

Western Railway has prepared a Rs 46.9 crore plan for increasing the height of 145 of its suburban platforms to a uniform 900mm over the next couple of years, provided the fund is sanctioned by the Centre without much delay.

It plans to complete the work in three phases. In the first phase, the height of a set of 32 platforms, which now measures 760mm from the tracks, will be altered. The present height is fine by railway rule-wise, but dangerous when the new Siemens and Bombardier rakes begin operation.

If Reserve Bank of India (RBI) Governor Raghuram Rajan’s statement days before the central bank’s bi-monthly monetary policy review is any indication, tension between the finance ministry and RBI could well be a thing of the past.

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