Market Outlook: Indian markets are expected to open gap down and likely to trade negatively biased. The crucial support on the downside for the Nifty is 5360 and resistance at 5430.
Results Today: SBI, Tata Steel, Tata Motors, Ranbaxy, Divis Labs, Shree Renuka, MTNL, Ansal Propperties, Apollo Hospital , Cummins India , Indraprastha Gas, Indo Rama Syn, Indiabulls Real Estate, HPCL, Hindustan Copper, Hathway Cable, Dishman Pharma, Moser Baer, PTC India, Talwalkar
Global events to watch:
Þ Jobless Claims
Þ Import and Export Prices
Global indices Update @ 8:
Dow Jones : 10378 (- 265.4)
NASDAQ : 2208 (- 68.54)
Nikkei 225 : 9105 (- 187.6)
Hang seng : 20945 (- 340.4)
SGX CNX Nifty : 5363 (- 42.00)
INR / 1 USD : 46.54
Stocks in action for the day: SCI, EIL, Orchid Chem, M&M, RIL, SBI
RIL- Sources -RIL treasury stake sales to resume -Tranche 4 likely soon; to be upwards of USD 1 billion Deal likely at slight discount to CMP -LIC likely to participate in tranche 4
M&M -Selected as preferred bidder to acquire controlling stake in Ssangyong Motors -Ruia group has been picked up as secondary preferred bidder -Ssangyong to wrap up sale proceeds by October this year
Board Meets -Essar Shipping: Restructuring -Greaves Cotton: Stock Split -Indowind Energy: FCCB -Kalindee Rail: Issue of Security
Aksh Optic Fibre -QIP to open on August 16 -Issue price fixed at Rs 19.20/sh
Ex-Dates -Adani Enterprise: Ex-Dividend @ Rs.1/shr Balaji Tele: Ex-Dividend @ 0.3/shr Globsyn Info: Ex-Reduction of Capital ((Reduction of Capital of by 50%)) Indo Gulf Inds : Ex-Scheme of Arrangement (( Reduction of Capital by 90% , approved by BIFR))
L&T’s Deosthalee to retire next year, may head L&T Finance – ET
Vishal Retail plumps for TPG over Future group, even the lenders seen favoring TPG – BS
Solrex Pharma, a firm owned by Singh brothers sells part of its stake in
Orchid Chem, sells 8.5 lakh shares @ Rs 196/sh
Prakash Industries in talks to buy Nova Iron and Steel – DNA (Nova is BSE listed, CMP Rs 18.7/sh)
Engineers
Sterling
SCI: Board approved FPO upto 20% ((Including fresh shares))
Pioneer Embroideries: Allotment and issue of Preference shares amounting up to Rs 30 crore
Videocon Industries Q3 -Sales at Rs 2893 crore versus Rs 2461 crore (YoY) -PAT at Rs 153 crore versus Rs 124 crore (YoY)
Dunlop
Parsvnath Developers Q1FY11(QoQ) -Revenues: Rs 257.07 crore versus Rs 358.49 crore -Net Profit: Rs 31.82 crore versus Rs 34.72 crore
Sterling Holidays Q1 -Sales at Rs 10.1 crore versus Rs 9.07 crore (YoY) -Loss of Rs 1.8 crore versus PAT of Rs 0.54 crore (YoY)
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