Market Outlook: Indian markets are likely to remain in a range amid mixed cues from global shores. The trend continues to remain positive but one has to be cautious at higher levels. Nifty has support at 5050 and resistances are at 5180-5200.
Global Events to watch for today
- ICSC-Goldman Store Sales
- 4-Week Bill Auction
- 52-Week Bill Auction
- 3-Yr Note Auction
Global indices Update @ 8:
Dow Jones : 10552 (- 13.68)
NASDAQ : 2332 (+05.86)
Nikkei 225 : 10558 (- 27.88)
Hang seng : 21163 (- 33.78)
SGX CNX Nifty : 5124 (+05.50)
INR / 1 USD : 45.43
On the global counter Wall Street ends flat amid lackluster trade while Asian markets trading weak; Hang Seng, Nikkei down.
Stocks in action for the day : Dhampur Sugar, Jet Airways,
NMDC FPO price band at Rs 300-350: The government has fixed a price band of Rs 300-350 for the follow-on public offer of mining giant NMDC, and will raise between Rs 9,900-11,550 crore depending on the cut-off price. The issue will open on Wednesday. The upper end of the price band translates into a 12.6% discount to Monday’s closing price of Rs 400.60, while at the lower end, the discount works out to 25%.
DaimlerChrysler to exit Tata Motors via block deal: Sources: DaimlerChrysler AG is set to cash in on its stake in Tata Motors, sources told CNBC-TV18
No immediate plans to raise funds via QIP: Dhampur Sugar: News about integrated sugarcane processing company, Dhampur Sugar Mills planning to raise Rs 100-150 crore via a qualified institutional placement (QIP) has been put to rest. The company’s Managing Director, Gaurav Goel, said that though the board had approved a QIP but there were no immediate plans to raise funds.
L&T Power to step up capacity, in race to acquire coal blocks: L&T Power Development Company, a unit of
Jet grounds fund-raising plan on stake dilution worries: Jet Airways has decided to abandon its plans to raise $200 million (Rs 900 crore) by selling shares to foreign investors in the current fiscal after the company’s owner Naresh Goyal had second thoughts about a significant decline in his stake in the private airline.
Adani Power in race for 1,000-mw Kosovo project: After spreading its operations beyond Gujarat, to Maharashtra, Rajasthan and Madhya Pradesh, Adani Group company Adani Power is now looking for opportunities outside
SUUTI sells 9.4% in NSDL to NSE for $25 mn: The National Stock Exchange (NSE) on Monday said its stake in National Securities Depository (NSDL) has risen to 25.05% from 15.63%, after buying a 9.42% stake from the Specified Undertaking of the Unit Trust of India.
Crisil assigns highest rating to Dabur: FMCG major Dabur on Monday said credit rating agency Crisil has assigned it the highest grade in the long-term due to the company' s consistent growth and improved market position.
Exide to mop up Rs 540 cr via QIP: Storage battery maker Exide Industries plans to mobilise around Rs 539.5 crore by selling 5 crore equity shares to qualified institutional buyers (QIBs). According to a senior company official, the floor price for the exercise has been fixed at Rs 107.9 per share.
Bank of Rajasthan update: BoR Referred By RBI Post Annual Financial Inspection There is sufficient evidence prima facie to indicate fraud by BoR promoters NSDL & CDSL are directed to freeze accounts of 18 entities Bans 100 entities from transacting in securities market BoR made incorrect disclosure of promoter shareholdings ALERT: BoR Promoter Group Led By Pravin Kumar Tayal Alert: BoR Promoters Disclosed to RBI Decline in Shareholding Alert: BoR Promoters hiked stake simultaneously through surrogate acquisition RBI provided details of movement of funds from the Tayal group RBI termed these Cos as front companies of the Tayal group
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