Market Outlook: Indian markets may have flat to positive opening today on account of good global cues. Nifty has supports at 5000-5050 and resistances are at 5180-5250. Market momemtum is up as long as it hold above 5100 levels. Some level of profit booking is expected to come today so we advice traders to be cautious at our resistances levels.
Global events to watch for today:
- Bank Reserve Settlement
- MBA Purchase Applications
- Challenger Job-Cut Report
- ADP Employment Report
- EIA Petroleum Status Report
Global indices Update @ 9:
Dow Jones : 10471 (+126.7)
Nasdaq : 2175 (+31.21)
Nikkei 225 : 9556 (-16.18)
Hang seng : 22387 (+274.8)
SGX CNX Nifty : 5153 (+22)
INR / 1 USD : 46.45
On the global counter: Dow hits 14-month high on data, dollar and Dubai & Asian markets trading higher; Hang Seng, Straits Times up. The Dow Jones industrial average climbed to its highest close in 14 months on Tuesday as a weak dollar boosted natural resource companies
Stocks in action for the day: Tata Motors, Sun Pharma, Great Off, HDFC
Indian ADRs: Tata Motors up 11% post good auto sales numbers Tata Motors Nov sales: -Total sales up 65% at 54,108 units (YoY) -Domestic sales at 50,114 units versus 30,556 (YoY) -Local CV sales at 29,408 units versus 16,229 (YoY) -Passenger car sales at 22,671 units versus 14,612 (YoY)
Sun Pharma update: Templeton withdraws from Taro
Mark Mobius: Important to accelerate Sun Pharma’s takeover of Taro No longer asking for special tender offer Taro accounts not audited, not sure of the financial condition of company Will continue to hold Taro shares Will urge other shareholders to defeat appeal against Sun
Great Offshore battle: -Bharati Shipyard revises open offer for Great Offshore to Rs 590/share versus Rs 60/share -ABG Shipyard open offer at Rs 520/share; may hike open offer:-Bharati Shipyard open offer opens on December 3, closes on December 22.
Cement November despatch numbers: ACC at 1.66 MT (million tonnes) versus 1.73 MT (YoY) JP Associates despatch up 49% to 1.02 MT AV Birla Group up 15.3% at 2.92 MT (YoY) Shree Cements up 25% at 5.9 MT (YoY).
JP Infratech: -JP Infratech files DRHP: JP Infratech public issue mix of fresh equity & stake sale by JP ssociates Fresh Share sale to raise Rs 1,650 crore & JP Associates offering 6 crore shares: Morgan Stanely, BoA ML, ENAM, Kotak, IDFC SSKI, Axis, SBI Caps, I-Sec bankers to the issue:
Mahindra Satyam:Currently Defending Certain Lawsuits in US Can
HDFC offers dual rate for home loan, borrower to be charged 8.25% fixed up to March 2012 and floating rate there after
Tata Elxsi arm to set up studio in LA to expand its presence in
Kiri Dyes in talks to acquire Germany’s DyStar group for 100 million pound (Stock was up 20% yesterday and management told CNBC TV that the company expects to close an overseas acquisition in 1-2 weeks)
Bayer in talks with Indian company to ink drug research deal, in talks with Piramal, Dr Reddys, & GVK Bio
Takeda scouting for buying opportunities in
SEL Manufacturing approves GDR issue of 56 lakh shares subject to an over allotment of further 28 lakh GDRS
Gammon
City Union Bank rights issue opens today.
L&T, HCC, Simplex Infra in race to bag Rs 10000 cr upcoming aerotrololis project in WB
FIPB says no to L&T’s defence JV with German Firm EADS Deutschland GmbH
MTNL launches 0.5 paise/second mobile call plan on company
Edserv board meet on 4th December to consider fund raising
RBI says banks must meet 70% provision coverage ratio by September End
Marico says company done with price cuts, discounts till December-end:
No comments:
Post a Comment