Market Outlook: Indian markets are expected to trade flat as against mixed trend seen in the Asian counters. Overall the market is still weak and is likely to find selling pressure on the higher levels. The crucial support on the downside for the Nifty is 5360 and resistance at 5455.
Global events to watch:
Þ Housing Starts
Þ Producer Price Index
Þ Redbook
Þ Industrial Production
Global indices Update @ 8:
Dow Jones : 10302 (- 01.14)
NASDAQ : 2181 (+08.39)
Nikkei 225 : 9128 (- 67.82)
Hang seng : 21079 (- 32.33)
SGX CNX Nifty : 5420 (+02.00)
INR / 1 USD : 46.78
Stocks in action for the day: Biocon, Mah Satyam, ICICI Bk, Cox & Kings, Sesa Goa, SBI, Tata Steel-Corus..
Vedanta-Cairn deal: Sources Vedanta-Cairn deal may not require govt approval -Plain reading of PSC doesn
Sterlite- bauxite mining issue -4 member committee advised MOEF against allocation of the Nyamgiri bauxite mine to Vedanta -Committee has cited environmental and local people issues. Alert: Negative for Sterlite
Cox & Kings – Sources -Cox & Kings launches GDR issue -Cox & Kings offer for 53.41 lakh GDRs (Approximately USD 65 million) -Offer with greenshoe option of 28.75 lakh additional GDRs -Cox & Kings offer price at Rs 569.2/share (USD 12.17/GDR)
ICICI Bank -Ups PLR & floating reference rate by 50 bps W.e.f August 18
Ex-Dates -Colgate Palmolive : Ex-Dividend @ Rs.10/shr -Dalmia Cement : Ex-Dividend @ Rs.1/shr -Dredging Corp : Ex-Dividend @ Rs.3/shr -Indraprastha Gas : Ex-Dividend @ Rs.4.5/shr -Jagran Prakashan :Ex-Dividend @ Rs.1.5/shr -L&T : Ex-Dividend @ Rs.12.5/shr -Lanco Inds : Ex-Dividend @ Rs.1.5/shr -Surana Telecom : Ex-Scheme of arrangement
Stocks Include in T2T w.e.f from August 20, Essar Shipping,
Siemens VAI: bags 10 million Euro Order From SAIL For Orissa Plant (not in Siemens India)
Engine Faults ground 9 Kingfisher jets – ET
Mahindra Satyam wins Upaid case – ET
JSPL acquires land to start USD 2.1 billion. steel plant in
Biocon shares surge of Pfizer deal talks – ET
HDFC Ventures buy 10% in Lodha Projects for Rs 250 crore – ET
Wipro plans second pay rise on October – BS
Redington India sings distribution tie up with Imation India Pvt. Ltd for their storage media products
SR Inds board to consider Right Issue on 21 August
Royal Orchid board meet on 19 August to consider NCD &/or equity linked Instruments (QIP)
Biocon launches new healthcare division for critical illnesses & acute hospital acquired infections
SBI increases deposit rates, ICICI ups PLR State Bank of India (SBI), the country`s largest lender, announced sharp increases,by up to 150 basis points, in deposit rates, as banks aggressively compete for funds to meet burgeoning credit demand. Both SBI and ICICI Bank on Monday also said they are raising their prime lending rates by 50 basis points. Banks have been raising benchmark lending rates following a hike in policy rates by Reserve Bank of
Steelmaker Corus to invest Rs 13.55 bn in
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