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Morning Mail Upadate 21 August 2014
INDIAN BENCHMARK open on a flat note tracking a mostly weak trend across
markets in Asia as a sharp slowdown in China’s manufacturing underscored
concerns over the health of the world’s second biggest economy, overshadowing
Federal Reserve’s commitment to continue to keep interest rates low.
FURTHER, DLF Ltd is planning to
reduce debt to Rs 12,000-14,000 crore by FY17 through asset monetization.
Reliance Infrastructure has filed an appeal in the Appellate
Tribunal for Electricity against the Maharashtra Electricity Regulatory
Commission pleading a stay on its recent order in change-over and switchover of
its consumers to Tata Power in the Mumbai distribution area.
INDIAN BENCHMARK open higher with the Nifty rising above 7900
INDIAN BENCHMARK open higher with the Nifty rising
above 7900 level supported by positive global cues, and capital goods, oil
& gas, banks and metals stocks.
FURTHER, Aurobindo Pharma will be
expanding the capacity of its active pharmaceutical ingredients ( APIs) unit
(unit-11) in Vizag this fiscal. Indian Oil Corp is reportedly planning to raise
processing of cheaper crude oil varieties to 30% by 2017-18.
Trend in FII flows: The FIIs
were net buyers of Rs 192cr in the cash segment on Monday while the DIIs
were net buyers of Rs. 490cr, as per the provisional figures released by
the NSE.
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INDIAN BENCHMARKS end at record closing high
INDIAN EQUITY BENCHMARKS ended at fresh life time high
on positive global cues and a sharp decline in crude oil prices.
·
Tata Motors DVR jumped 5.6 percent after
a report in the Times of India newspaper that Indian exchanges may consider
admitting such shares on their benchmark indexes.
·
Further, Jubilant Foodworks gained 6.2
percent after Bank of America Merrill Lynch started coverage with a buy rating
and a target price of 1,375 rupees, saying the company is in a "sweet
spot" in the large and high-growth quick service restaurants market.
The crucial resistance for Nifty is now seen at 7910
and above this 7945. Support for the immediate term is now placed at
7780 and next support will be 7740.
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