Market View:
Indian markets to trade mix following global cues. Expect markets to open in green. Volatility to be the trend of day.
Inflation seen at 7.49% for Dec 6th vs 8%. This to act positive.
Second Stimulus Package to be announced next week; to target housing, construction , automobile and infra sector. This to bring in some positives.
Nifty: Pivot- 2991
R1- 3039, R2-3124, R3- 3172 ; S1-2906, S2- 2858, S3-2773
Stock in Action: Satyam, Patel Engineering , ABG Shipyard for UP.
Satyam (T1- 170, T2-187, T3-216; SL- 141)
Satyam backtracks. Drops plans to acquire Maytas twins.
Patel Engineering ( T1- 174, T2-186, SL- 153)
Patel Engineering consortium bags irrigation project worth Rs 3,859 cr in Andhra Pradesh.
ABG Shipyard: (T1- 88, T2-94, T3-104; SL- 77)
ABG Shipyard denies order cancellation. Norwegian order is for Rs216Cr and not Rs1000Cr.
Stocks in News:
Lupin settles patent dispute with Schering-Plough over Desloratadine tablets, can sell the generic version from July 2012
India Infoline buyback offer up to Rs 43.20/sh opens today.
Thomas Cook rights issue priced at Rs 35.50/sh; ratio 35:100
Titan Industries to spin off engineering division into JV firm. Division has topline of Rs 75 crore.
Tata Power forms 74:26 JV with IOC to set up coal-based power plant in Orissa.
Silverline Tech may dispose one American subsidiary due to adverse market conditions
Thursday, December 18, 2008
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