Market Outlook: Indian markets are likely to start on a positive note buoyed by investor optimism across overseas markets. Short-covering ahead of the F&O expiry is also expected to continue.
Nifty Outlook: Pivot Point: 4638
R1: 4694, R2: 4728, R3: 4784
S1: 4603, S2: 4547, S3: 4513
On the global space: Dow logs 6th straight gain, ends up 30 pts on good eco data while Asian mkts trading mixed; Nikkei up 67 pts. In the
Stocks in action for the day: RCom, Maruti, United Spirits, Wipro, Aban offshore, JSL & Austral.
Reliance Communications plans to invest Rs 1,000 crore on rural telecom infrastructure, reports CNBC-TV18, quoting sources. The company plans to boost its fibre optic, hybrid data network.
Maruti rolls out small car Estilo at Rs 3.12-3.95 lakh
United spirits: Have called off talks with Diageo -Struggled with anti-trust issues, Diageo valuations -Deleveraging of balance sheet continues Will re-engage with strategic partner after deleveraging
Salman Khursheed update: -Bharti, MTN looking at resolving certain legal issues -Legal issues due to variations between Indian-SA laws
WNS: -Wipro joins race for Warburg Pincus’ stake in WNS -Bids for WNS vary between $400 million to $600 million -5 other IT firms in race to buy half of WNS -Wipro says: Cannot comment on market speculation -Alert: Warburg Pincus looking to sell 50.12% stake in WNS
Keki Mistry says: -Exercised warrants to pump in Rs 3,600 crore in HDFC Bank -Life insurance business needs about Rs 350 crore capital this year -Alert: HDFC owns 74% in life & general insurance business -Pure equity issue ruled out to avoid RoE (return on equity) erosion
MCX-SX - -LSE, NYSE in talks to pick up 5% stake in MCX-SX -LSE, NYSE interested in buying stake at Rs 35/share -4 Indian banks also interested in picking stake in MCX-SX
-Financial Tech to pare stake in MCX-SX to meet SEBI norms -Mint alert: Financial Tech is the promoter of MCX-SX
Austral Coke: -To set up 2 coke plants with capacity of 1.5 lakh MTPA each -To set up 8 MW waste heat generated power plant
Aban Offshore: -Signed $603 million, 3-year deal for 3 rigs -$92 million 3-year deal for fourth rig Aban Offshore still in NSE F&O curb
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