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TOP CORPORATE NEWS 27 AUGUST 2014
By : Simran Shah
• UCO Bank stock slips 8%
Shares of UCO Bank slipped 8% after report that the government ordered limited forensic audit into some non-performing accounts of the Bank to find out any irregularities in sanction of loans.
• Tech Mahindra in talks to acquire more companies
Tech Mahindra is talks to acquire firms to further enhance its geographical reach competence in order to reach its goal of $5 billion by CY2015.
• Hero Moto Corp aims to sell 12 million units by 2020
Hero Moto Corp management has set a target of 12million unit sales by the year 2020 and also reiterated its target to derive 10% of the volumes from exports. The company had sold 6.2 million units in FY 2014.
• Tata Global plans to give thrust to its water business
Tata Global Beverages is planning to give a thrust to its water business with a goal to take the segment's contribution to company's revenues to 10% from 1% currently positive in long run, no near term addition to earnings.
Shares of UCO Bank slipped 8% after report that the government ordered limited forensic audit into some non-performing accounts of the Bank to find out any irregularities in sanction of loans.
• Tech Mahindra in talks to acquire more companies
Tech Mahindra is talks to acquire firms to further enhance its geographical reach competence in order to reach its goal of $5 billion by CY2015.
• Hero Moto Corp aims to sell 12 million units by 2020
Hero Moto Corp management has set a target of 12million unit sales by the year 2020 and also reiterated its target to derive 10% of the volumes from exports. The company had sold 6.2 million units in FY 2014.
• Tata Global plans to give thrust to its water business
Tata Global Beverages is planning to give a thrust to its water business with a goal to take the segment's contribution to company's revenues to 10% from 1% currently positive in long run, no near term addition to earnings.
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COMMODITY MARKET STRATEGY 27 August 2014
By : Simran Shah
BASE METAL WRAP:
Aluminium traded near an 18-month high on speculation demand is rising
amid signs a recovery is gathering pace in the U.S. and before data forecast to
show the country’s economy expanded for the second quarter.
ENERGY WRAP: West Texas
Intermediate traded near a three-day high before a government report forecast
to show crude stockpiles dropped for a second week in the U.S., the world’s
biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold held below $1,300
an ounce as investors weighed a strengthening U.S. economy and dollar against
signs of easing tensions around the world.
GLOBAL EVENTS TO WATCH: Crude
Oil Inventories.
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COMMODITY MARKET STRATEGY 26 August 2014
By : Simran Shah
BASE METAL WRAP: Aluminium in London climbed for a second day following Alcoa Inc.’s decision to close a smelter in Italy and before durable goods orders data from the U.S., the second-largest consumer of industrial metals.
ENERGY WRAP: West Texas Intermediate traded near the lowest price in seven months before supply data that will signal the strength of fuel demand in the U.S, the world’s biggest oil consumer. Brent was steady in London.
PRECIOUS METAL WRAP: Gold held losses near a two-month low on speculation that the U.S. Federal Reserve will raise borrowing costs next year, strengthening the dollar and damping demand for an alternative investment.
GLOBAL EVENTS TO WATCH: Trade Balance, CB Leading Index m/m, Core Durable Goods Orders m/m, Durable Goods Orders m/m, HPI m/m, S&P/CS Composite-20 HPI y/y, CB Consumer Confidence, Richmond Manufacturing Index.
