Market Outlook: Indian markets will have positive opening today on the back of strong global cues. Dow's managed to close above 9,000 since January. Nifty has supports at 4400-4450 and resistances are at 4600-4680. Short term trades should book profit on higher levels. Overall outlook for the markets today is that of cautious optimism as the overseas cues are mildly positive and bulls may attempt a comeback. Much will depend on whether the Nifty stays above the 4490 or not.
Nifty Outlook: Pivot Point: 4487 R1: 4568, R2: 4613, R3: 4695 S1: 4442, S2: 4360, S3: 4315
Results today: RIL, Reliance Petroleum, Ranbaxy, GAIL, HCC, Jet Airways, Emkay Global, Fortis Healthcare, Shree Cements, Andhra Cements, BGR Energy, Bharat Electronics, Bharat Forge, Bosch, Ceat, CESC, CRISIL, Dolphin Offshore, EMCO, Eveready Industries, FACT, Geometric, Gujarat Industries Power, Hindustan Motors, ICRA, JK Lakshmi Cement, Mahindra Lifespace, Redington, Shriram Transport Finance, Spice Mobiles, Tata Metaliks
On the global face: Wall Street rallies; Dow closes above 9000 & Asian markets trading higher; Nikkei, Hang Seng up. The US markets rallied to their best levels in months. The benchmark indices finished with solid gains. Better-than-expected profits at some of the nation's biggest companies also lifted the market, giving the Dow a 188-point rally to finish at its highest level since November. The Dow Jones surged above the 9,000 level for the first time since January this year. The S&P 500 too closed at its 2009 high. And it was a 12th straight day of gain for the Nasdaq, the longest since 1992. The Dow gained 188.03 points, or 2.1%, to 9,069.29. The S&P 500 index rose 22.22 points, or 2.3%, to 976.29. The Nasdaq Composite Index rose 47.22 points, or 2.5%, to 1,973.60.
Stocks in action for the day: BHEL, Tech Mah, ONGC, Ranbaxy, Bharti
MTN-Bharti -GDR (global depositary receipt) offering part of MTN-Bharti deal-GDR holders are not shareholders of Indian companies -GDR holders not subscribers to the company memorandum -GDR holders name not mentioned in register of members -Overseas depository bank not depository under act -Overseas depository bank not nominee of GDR holders -Overseas depository bank becomes nominee only after conversion. Bharti-MTN deal may not face SEBI hurdle -MTN to have board slot, but no management control -Deal through GDRs does not trigger open offer -Scheme of arrangement does not trigger open offer -Bharti-MTN yet to seek formal approval from SEBI -MTN bankers met SEBI officials to explain deal Ex-split: Bharti from Rs 10 to Rs 5; goes into ND period, out on July 31
Telecom companies: -Can't sell equity in company for 3 years: Govt-Lock-in period applies to entities with >10% stake in company
BHEL: Got orders for 8x700 MW nuclear reactor projects -In talks with GE, Areva for tie-ups on nuclear projects
Indiabulls --Indiabulls asks Chattisgarh Govt to change terms for power -Indiabulls asks Chattisgarh govt to change 80 paise tariff -Alert: Indiabulls won 1600 MW project in 2008 at 80 paise tariff
Tech Mahindra AGM Update -Company may raise capital to retire high cost debt : Sanjay Kalra -Satyam merger with parent co not ruled out yet: Sanjay Kalra
Tata Motors: -Tata Motors eyeing Indonesian car market: Agencies ((already present in truck segment)) -Tatas, Fiat planning to introduce Nano in Latin America:
ONGC board approves Rs 1,800 crore expansion plan of MRPL
Ranbaxy gets approval from Japan for Dewas unit for 5 years
Essar Oil may raise $200 million Via QIP
French firm Dreyfus buys 49% in ABG Infralogistics arm for Rs 90 crore
SRF board meet on July 28 on buy back
Raj Oil Mills IPO subscribed 1.24 times ((closed yesterday))
Godrej Industries buyback to be discontinued from today
Nifty Outlook: Pivot Point: 4487 R1: 4568, R2: 4613, R3: 4695 S1: 4442, S2: 4360, S3: 4315
Results today: RIL, Reliance Petroleum, Ranbaxy, GAIL, HCC, Jet Airways, Emkay Global, Fortis Healthcare, Shree Cements, Andhra Cements, BGR Energy, Bharat Electronics, Bharat Forge, Bosch, Ceat, CESC, CRISIL, Dolphin Offshore, EMCO, Eveready Industries, FACT, Geometric, Gujarat Industries Power, Hindustan Motors, ICRA, JK Lakshmi Cement, Mahindra Lifespace, Redington, Shriram Transport Finance, Spice Mobiles, Tata Metaliks
On the global face: Wall Street rallies; Dow closes above 9000 & Asian markets trading higher; Nikkei, Hang Seng up. The US markets rallied to their best levels in months. The benchmark indices finished with solid gains. Better-than-expected profits at some of the nation's biggest companies also lifted the market, giving the Dow a 188-point rally to finish at its highest level since November. The Dow Jones surged above the 9,000 level for the first time since January this year. The S&P 500 too closed at its 2009 high. And it was a 12th straight day of gain for the Nasdaq, the longest since 1992. The Dow gained 188.03 points, or 2.1%, to 9,069.29. The S&P 500 index rose 22.22 points, or 2.3%, to 976.29. The Nasdaq Composite Index rose 47.22 points, or 2.5%, to 1,973.60.
Stocks in action for the day: BHEL, Tech Mah, ONGC, Ranbaxy, Bharti
MTN-Bharti -GDR (global depositary receipt) offering part of MTN-Bharti deal-GDR holders are not shareholders of Indian companies -GDR holders not subscribers to the company memorandum -GDR holders name not mentioned in register of members -Overseas depository bank not depository under act -Overseas depository bank not nominee of GDR holders -Overseas depository bank becomes nominee only after conversion. Bharti-MTN deal may not face SEBI hurdle -MTN to have board slot, but no management control -Deal through GDRs does not trigger open offer -Scheme of arrangement does not trigger open offer -Bharti-MTN yet to seek formal approval from SEBI -MTN bankers met SEBI officials to explain deal Ex-split: Bharti from Rs 10 to Rs 5; goes into ND period, out on July 31
Telecom companies: -Can't sell equity in company for 3 years: Govt-Lock-in period applies to entities with >10% stake in company
BHEL: Got orders for 8x700 MW nuclear reactor projects -In talks with GE, Areva for tie-ups on nuclear projects
Indiabulls --Indiabulls asks Chattisgarh Govt to change terms for power -Indiabulls asks Chattisgarh govt to change 80 paise tariff -Alert: Indiabulls won 1600 MW project in 2008 at 80 paise tariff
Tech Mahindra AGM Update -Company may raise capital to retire high cost debt : Sanjay Kalra -Satyam merger with parent co not ruled out yet: Sanjay Kalra
Tata Motors: -Tata Motors eyeing Indonesian car market: Agencies ((already present in truck segment)) -Tatas, Fiat planning to introduce Nano in Latin America:
ONGC board approves Rs 1,800 crore expansion plan of MRPL
Ranbaxy gets approval from Japan for Dewas unit for 5 years
Essar Oil may raise $200 million Via QIP
French firm Dreyfus buys 49% in ABG Infralogistics arm for Rs 90 crore
SRF board meet on July 28 on buy back
Raj Oil Mills IPO subscribed 1.24 times ((closed yesterday))
Godrej Industries buyback to be discontinued from today
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