Market Outlook: Indian markets will have positive opening today on the back of recovered global peers. Nifty has supports at 4580-4600 and resistances are at 4800-4850. Short term traders should book profit at higher levels.
Nifty Outlook: Pivot Point: 4684, R1: 4750, R2: 4790, R3: 4856 S1: 4644, S2: 4578, S3: 4538
Indian ADRs: Tata Motors up 7%, ICICI bank up 6%, HDFC Bank, Infosys up 3%
S&P ends above 1K, Nasdaq above 2K post manufacturing data & Asian markets trading firm; Hang Seng, Nikkei up. The US markets rallied to their highest closes since November following encouraging economic reports from the US and abroad. The S&P 500 gained 1.5% to close above the 1000 mark for the first time the since November. This puts the index up 50% from its March 6 low of 666 points. The day brought encouraging economic news as well. The ISM manufacturing index made its seventh straight increase by coming in at 48.9 for July versus 44.8 in June. The reading was better than economist expectation of 46.5. Construction spending data for June made a surprise 0.3% increase. It was expected to fall 0.5%. The Dow rose 1.3%, closing at 9,286 points, the first time the Dow finished above 9,200 since November. The Nasdaq gained 1.5% to close at 2,008, a level it hasn't seen since early October.
Stocks in action for the day: IRB Infra, ACC, Punj Lloyd, Unitech, GMR
Bharti-MTN Deal Update: -Talks may conclude well before August 31: -Alert: Exclusive talks extended by 4 weeks to August 31
Tata Motors July (YoY): -Total sales up 18% at 48,054 units -Nano sales at 2,475 units Local CV sales for up 27% at 28,408 units
Punj Lloyd: -QIP opens today: -To raise $75-100 million via QIP: -QIP priced at Rs 240/share: Punj Lloyd QIP priced at 5% discount to CMP
NTPC : Looking to acquire overseas coal mines -To diversify into nuclear and renewable energy
Cement sales numbers: -ACC July cement sales at 1.78 million tonnes (MT) versus 1.71 MT (YoY) -JP Associates July cement sales up 42% at 7.73 lakh tones -Dalmia Cement July cement sales at 3.8 lakh tonne versus 3.31 lakh tonne (YoY) -India Cements July despatches up 19% to 10.2 lakh tonnes
IRB Infra bags NHAI's Pathankot-Amritsar road project
Godrej Consumer allocates Rs 1,000 crore in FY10 for acquisitions
5.84 crore Suzlon shares to hit the market ((GDR issue))
Essar eyes merger of telecom license with Dhabi group in Uganda; merged entity valued at $310 mn
HCL Tech to restructure remaining part of Euro 400 million bridge loan
JSW cuts prices of construction grade steel by 4%, raises price of flat products by 3%
Unitech plans to sell tower business for Rs 700-750 crore
Daiichi wins court battle related to anti hyper intensive drug against Mylan, Matrix
Wockhardt and Biocons insulin prices to fall by 70% ((national regulator to fix minimum price))
K Sera Sera to raise Rs 100 crore via GDR
GMR awaits regulatory approval to hike airport UDF
Glory Polyfilms board approves fund raising up to $25 million
Man Aluminium open offer at Rs 45/share ((CMP Rs 42.65; opens September 18))
Webel-Sl Energy QIP opens today ((board had approved raising Rs 60 crore))
Trading in Matrix to be suspended from August 14 ((delisting))
Board meets: WWIL on terms of rights issue
2.99 crore REI Agro shares to hit the market ((QIP issue))
Ex-dividend: Ambuja Cements @ Rs 1.20, Rel Comm @ 80 paise
JMG Corporation to resume trading, no circuit filter today
Nifty Outlook: Pivot Point: 4684, R1: 4750, R2: 4790, R3: 4856 S1: 4644, S2: 4578, S3: 4538
Indian ADRs: Tata Motors up 7%, ICICI bank up 6%, HDFC Bank, Infosys up 3%
S&P ends above 1K, Nasdaq above 2K post manufacturing data & Asian markets trading firm; Hang Seng, Nikkei up. The US markets rallied to their highest closes since November following encouraging economic reports from the US and abroad. The S&P 500 gained 1.5% to close above the 1000 mark for the first time the since November. This puts the index up 50% from its March 6 low of 666 points. The day brought encouraging economic news as well. The ISM manufacturing index made its seventh straight increase by coming in at 48.9 for July versus 44.8 in June. The reading was better than economist expectation of 46.5. Construction spending data for June made a surprise 0.3% increase. It was expected to fall 0.5%. The Dow rose 1.3%, closing at 9,286 points, the first time the Dow finished above 9,200 since November. The Nasdaq gained 1.5% to close at 2,008, a level it hasn't seen since early October.
Stocks in action for the day: IRB Infra, ACC, Punj Lloyd, Unitech, GMR
Bharti-MTN Deal Update: -Talks may conclude well before August 31: -Alert: Exclusive talks extended by 4 weeks to August 31
Tata Motors July (YoY): -Total sales up 18% at 48,054 units -Nano sales at 2,475 units Local CV sales for up 27% at 28,408 units
Punj Lloyd: -QIP opens today: -To raise $75-100 million via QIP: -QIP priced at Rs 240/share: Punj Lloyd QIP priced at 5% discount to CMP
NTPC : Looking to acquire overseas coal mines -To diversify into nuclear and renewable energy
Cement sales numbers: -ACC July cement sales at 1.78 million tonnes (MT) versus 1.71 MT (YoY) -JP Associates July cement sales up 42% at 7.73 lakh tones -Dalmia Cement July cement sales at 3.8 lakh tonne versus 3.31 lakh tonne (YoY) -India Cements July despatches up 19% to 10.2 lakh tonnes
IRB Infra bags NHAI's Pathankot-Amritsar road project
Godrej Consumer allocates Rs 1,000 crore in FY10 for acquisitions
5.84 crore Suzlon shares to hit the market ((GDR issue))
Essar eyes merger of telecom license with Dhabi group in Uganda; merged entity valued at $310 mn
HCL Tech to restructure remaining part of Euro 400 million bridge loan
JSW cuts prices of construction grade steel by 4%, raises price of flat products by 3%
Unitech plans to sell tower business for Rs 700-750 crore
Daiichi wins court battle related to anti hyper intensive drug against Mylan, Matrix
Wockhardt and Biocons insulin prices to fall by 70% ((national regulator to fix minimum price))
K Sera Sera to raise Rs 100 crore via GDR
GMR awaits regulatory approval to hike airport UDF
Glory Polyfilms board approves fund raising up to $25 million
Man Aluminium open offer at Rs 45/share ((CMP Rs 42.65; opens September 18))
Webel-Sl Energy QIP opens today ((board had approved raising Rs 60 crore))
Trading in Matrix to be suspended from August 14 ((delisting))
Board meets: WWIL on terms of rights issue
2.99 crore REI Agro shares to hit the market ((QIP issue))
Ex-dividend: Ambuja Cements @ Rs 1.20, Rel Comm @ 80 paise
JMG Corporation to resume trading, no circuit filter today
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