Market Outlook: Indian markets may have a positive opening today on the back of recovered global cues. Nifty has supports at 4,900-4,930 and resistances are at 5,030-5,100. The upterd momentum is expected to continue. Technically the trend is still intact up as long 4900 holds; target in the near term is 5155.
Global events to watch for today:
- Consumer Confidence
- ICSC-Goldman Store Sales
- State Street Investor Confidence Index
- 4-Week Bill Auction
- Farm Prices data
Global indices Update @ 9:
Dow Jones : 9789 (+124.17)
Nasdaq : 2130 (+39.82)
S&P 500 : 1062 (+18.60)
Nikkei 225 : 10104 (+95.16)
Hang seng : 21003 (+415.5)
SGX CNX Nifty : 5005 (+45.00)
INR / 1 USD : 47.98
CRUDE OIL : 66.91 (+0.07)
Gold : 992 (-0.50)
On the global counter: Wall Street snaps 3-day losing streak; Dow ends up 124 pts &
Stocks in action for the day: Bharti, Gammon India, Abbott
Bharti-MTN: Bharti-MTN Deal Structure Likely On EV/EBITDA Valuations Bharti Valuation 11x EV/EBITDA, MTN 7x EV/EBITDA PIC, Mikatis May Get Bharti Stake In Lieu Of MTN Stake Mikati Family Holds 10-11% In MTN; Likely To Get 7% In Bharti PIC Holds 23% In MTN, Likely To Get 14.6% I Bharti Bharti May Allot 14-15% To MTN For Cash Bharti May Acquire Nearly 14% From MTN Shareholders PIC & Mikati Independent Of MTN Board, Hence Not PAC Stands For Persons Acting In Concert Structure Means Bharti EPS Accretive From 1st Year Structure Helps Avoid Open Offer Future Of Deal To Be Decided Early This Week
UB Group: Received expressions of interest from PE players Final decision on stake sale probably in October
RCF: RCF A Candidate For Divestment; Timeline & Amount Unknown Fert Cos Have Questioned RIL Marketing Margin, Freight Costs
Murugappa Group: Murugappa Group Looks To Hike Stake In Chola DBS Fin to 75% Murugappa Group To Buy 37.5% Held By DBS Group Holdings Murugappa Grp Can Buy DBS' Stake Via Inter-se Sh Transfer
Oil India to list on Sep 30, issue price Rs 1050
SEBI
Gammon India board approves QIP issue up to $ 200 m
Abbott acquires pharma business of Solvay Pharma for $6.6 bn ((both Abbott & Solvay are listed))
Tata Power scouting for coal assets overseas
Steel Min starts discussions with Fin Min on SAIL stake sale:
Idea launches 50 paise local & STD call rates
L&T Finance To Buy 100% Stake In DBS Chola AMC For Rs 45 Cr
Tulip Tele Under IT Scanner For Alleged Tax Evasion..source news
Shree Renuka buys 5% stake in NCDEX for Rs 36.5 cr from Goldman Sachs & Intercontinental Exchange
Pfizer board approves amalgamation of wholly owned subsidiary Duchem Labs with itself
Television Eighteen, WWIL rights issues open today
Greycells Entertainment rights issue opens today
77.56 cr Jindal Steel bonus shares to hit market
6.41 cr Gujarat Gas bonus shares to hit market
Sujana Metal board meet on Sep 30 on issue of GDRs up to $16 m
Intellivate Capital board approves 5:1 rights issue at Rs 50 ((CMP Rs 30))
Suryachakra Power board meet on Sep 30 on issue of convertible warrants on pref basis
Shree Ram Mills board approves issue of 16 m convertible warrants to promoters on pref basis
Board meets: Abbott
Pfizer Q3: Net Profit At Rs 41.15 Cr Vs Rs 38 Cr Net Sales At Rs 204.84 Cr Vs Rs 187.7 Cr Other Income At Rs 15.75 Cr Vs Rs 18.49 Cr EBITDA Margin At 24%; Cash On Books At Rs 500 Cr.
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