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INDIAN BENCHMARKS slip on profit taking… Nifty holds 8,150
INDIAN EQUITY BENCHMARKS
ended lower, amid weak European cues, as investors turned cautious and
booked profits at higher levels after hit fresh record highs in the
previous session.
• Hindalco ended down 0.6% ahead of the SC verdict on the Mahan Coal block allocated to the company eight years ago to feed its aluminium plant in Madhya Pradesh.
• Further, Larsen & Toubro acquired 50% of the stake in L&T-Ramboll Consulting Engineers Ltd (LTR) from its joint venture partner Ramboll Denmark AS.
The crucial resistance for Nifty is now seen at 8180 and above this 8210. Support for the immediate term is now placed at 8125 and next support will be 8105.
NEWS TO WATCH:
• Watch out for the CPI and IIP data on 12TH Sep. 2014.
• Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014
• Hindalco ended down 0.6% ahead of the SC verdict on the Mahan Coal block allocated to the company eight years ago to feed its aluminium plant in Madhya Pradesh.
• Further, Larsen & Toubro acquired 50% of the stake in L&T-Ramboll Consulting Engineers Ltd (LTR) from its joint venture partner Ramboll Denmark AS.
The crucial resistance for Nifty is now seen at 8180 and above this 8210. Support for the immediate term is now placed at 8125 and next support will be 8105.
NEWS TO WATCH:
• Watch out for the CPI and IIP data on 12TH Sep. 2014.
• Watch out for the Trade balance ,Export and Import data on 12TH Sep. 2014
TOP CORPORATE NEWS 26 August 2014
· ONGC slumps on reports of disinvestment
ONGC fell nearly 4%, on reports of disinvestment. Government has decided to disinvest 5% stake in the company via offer for sale mechanism. The procedure of disinvestment is expected to be completed by the end of the month of September.
· Havells India rises after stock split
Havells India jumped over 12% and after stock split. Havells India split each equity share of face value Rs5 each into five equity shares of Re1 each., with trading starting as of today, (August 26, 2014).
· Reliance Power opts out of gas-fired power plant in Dadri
Reliance Power told the Supreme Court that it wasn't interested in setting up gas-fired power plant in Dadri, Uttar Pradesh, any more and would return about 956 acres of land acquired for the company to the state government.
· L&T signs contract for 225 Mw
Bangladesh Power Development Board and Larsen & Toubro (L&T) have signed a contract to set up a 225 megawatt, gas-based power plant in sikalbaha, Chittagong in Bangladesh. The contract, which is valued at about $200 million, was secured by L&T in May, 2014.
Sensex bounces back into positive zone
the S&P BSE Sensex is trading at 26,044 up 53 points, while NSE Nifty is trading at 7,780 up 31 points.
BSE Mid-cap is down 0.47% at 9,096, while BSE Small-cap is down 0.52% at 9,915.
Some buying activity is seen in banking, oil & gas, consumer
durables, FMCG and healthcare sectors, while capital goods, realty,
metal, auto and IT sectors are showing weakness on BSE.
Bharti Airtel, Gail, Dr Reddy's Lab, ITC, ICICI Bank, M&M and Cipla are among the gainers, whereas L&T, Tata Power, SSLT, Tata Motors, SBI, Tata Steel and BHEL are losing sheen on BSE.
INDIAN EQUITY MARKET STRATEGY-09 JULY 2014
INDIAN BENCHMARK have erased early
gains and are trading lower weighed down by financials, capital goods and auto
shares. The Economic Survey will be released today by the Finance Ministry at
12 pm.
FURTHER, IDFC fell 0.51% after the
company reduced the foreign investors investment limit by 0.75% to 51.50%. Shares
of Reliance Infrastructure Ltd was down 2% on reports that Telangana government
entity has approved a restructuring plan by consultancy firm EY for a project
that includes a 100-storey trade tower in Hyderabad.
Trend in FII flows: The FIIs
were net buyers of Rs 192cr in the cash segment on Tuesday while the DIIs
were net sellers of Rs. 399cr, as per the provisional figures
released by the NSE.
INDIAN EQUITY MARKET STRATEGY-08 JULY 2014
INDIAN BENCHMARK open in the positive terrain as investors are expecting fundamental reforms and technical up gradation of the railways in the Railway Budget, which is due later during the day.
FURTHER, Dena Bank has sought Rs. 1,200 crore capital infusion from government in the current fiscal. Shares of railway related companies are in focus and trading higher by up to 4% in early morning deals ahead of Railway Budget today.
Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Monday while the DIIs were net sellers of Rs. 85cr, as per the provisional figures released by the NSE.
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INDIAN EQUITY MARKET STRETAGY-07 JULY 2014
INDIAN BENCHMARK have started the
trading session on a firm note with the Indices hitting lifetime high. The
first Budget session of the 16th Lok Sabha begins today.
FURTHER, Tata Power has decided
to sell its 5% stake in PT Kaltim Prima Coal for about $ 250 million to reduce
its debt, less than six months after offloading its holding in another
Indonesian coal company named PT Arutmin. Adani Ports has formed an equal joint
venture with French shipping company CMA CGM to build a container terminal at
Mundra in Gujarat.
Trend in FII flows: The FIIs
were net buyers of Rs 192cr in the cash segment on Friday while the DIIs
were net sellers of Rs. 853cr, as per the provisional figures
released by the NSE.
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