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INDIAN BENCHMARKS end flat amid range bound trades

By : Simran Shah


INDIAN EQUITY BENCHMARKS ended flat amid choppy trades after investors turned cautious and booked profits at higher levels.
·         Further, Bajaj Auto lost 2.3% after weak first quarter earnings. It has reported a flat growth in the first-quarter standalone net profit at Rs 740 crore, due to higher expenditure including employee cost.
·         Mahindra and Mahindra Ltd fell 3.1 percent after 11.8 million shares changed hands in twenty-four block deals on the BSE exchange.

The crucial resistance for Nifty is now seen at 7665 and above this 7730. Support for the immediate term is now placed at 7530 and next support will be 7460.

INDIAN BENCHMARKS ended at a day’s high on RBI measures for infra bonds ...Nifty re-conquers 7600.

By : Simran Shah

INDIAN EQUITY BENCHMARKS ended at a day’s high extending the rally for second consecutive trading session after the Reserve Bank of India relaxed financing norms for infrastructure development and affordable housing. RBI exempted long-term bonds from mandatory regulatory norms like CRR and SLR if the money raised is used for funding of infrastructure and affordable housing projects.


·         Further, Tata Communications plans to invest US$200mn over a period of three years to double its data centre capacity in India.

·         Federal Bank net profit in April-June more than doubled to Rs. 220 crore from Rs. 106 crore in the corresponding period last year on account of lower provisions for bad loans.


The crucial resistance for Nifty is now seen at 7640 and above this 7665. Support for the immediate term is now placed at 7530 and next support will be 7460.

Morning Mail ......

By : Simran Shah

INDIAN BENCHMARK open on a positive note tracking firm global cues. The progress of monsoons and the possibility of a growth-oriented Budget add to the sentiments.

FURTHER, United Spirits is likely to remain in focus after world's largest liquor maker Diageo Plc acquired an additional 26% in India's largest alcoholic beverages company for Rs 11,448.91 crore. Reliance Communications has initiated the process to monetise its real estate assets across the country, aiming to raise Rs 5,000 crore through this.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 407cr, as per the provisional figures released by the NSE.

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