Market Outlook: Indian markets are expected to open in a positive note on the back of higher on global cues. The crucial support on the downside for the Nifty is 5380 and resistance at 5500.
Global events to watch:
Þ Personal Income and Outlays
Þ Month Bill Auction
Global indices Update @ 8:
Dow Jones : 10150 (+164.8)
NASDAQ : 2153 (+34.94)
Nikkei 225 : 9265 (+274.3)
Hang seng : 20597 (+00.00)
SGX CNX Nifty : 5463 (+59.00)
INR / 1 USD : 46.86
Stocks in action for the day: Jindal Poly, ACC, JSPL, Borosil Glass, GMR
GMR Infra -Withdraws fund raising plan of Rs 5,000 crore -Already raised Rs 2,800 crore via QIP, private equity
Sesa Goa: BS -Plans Rs 6000-9000 crore steel Foray – BS -Company writes to transfer MoU signed earlier with Sterlite Iron and Steel to be transferred to Sesa Goa
Tech Mahindra -CEO Sanjay Kalra steps down on September 15 -Vineet Nayyar to takeover operational responsibilities
Tata Steel update (Stock was buzzing on Friday for this) -
Prime Focus -Board approves issue of 10 lakh warrants to Promoter -Approves raising of funds up to USd 50 million -Approves stock split from 10:1
Cairn
Ispat Q1 -Sales at Rs 2427 crore versus Rs 1399 crore (up 73% YoY) -Loss at Rs 69 crore versus loss of Rs 214 crore (YoY) -EBITDA margins at 14% versus 7.3% (YoY)
NMDC, Coal India plan JV to form No. 2 mining firm Public sector mining firms NMDC and Coal India are forming a joint venture with West Bengal Mineral Development and Trading Company to acquire one of the largest coal blocks in the country having reserves of around 19 billion tons. Under the proposed structure, NMDC and Coal
Tata Motors may seek JLR tech for smarter cars Tata Motors is looking to seek help from British subsidiary Jaguar Land Rover`s engineers to build more refined passenger cars. According to a topTata Motors official, the mother company will use expertise in design, noise and vibration and other aspects to build a portfolio of cars that are more sophisticated than its current range of Indica hatchback, Indigo sedan and the Nano ultra low-cost car. Speaking to ET, PM Telang, MD ofTata Motors India operations said: ``We know we need to improve our car operations in terms of fits, finishes, noise, vibration and design elements. That`s where Jaguar Land Rover can help us.`` Indeed, JLR engineers were invited to take a look at the Nano following complaints of the car catching fire.
GMR Infra to monetise airport land holdings GMR Infrastructure, the Bangalore-based power and infrastructure major, plans to unlock the value of its airport land holdings by monetising them and thereby grow revenues. The GMR Group, which operates the
NTPC eyes 8,140-Mw projects in MP National Thermal Power Corporation (NTPC) is looking forward to add another 8,140 megawatt (Mw) power by 2015, through its proposed power plants in Madhya Pradesh. Thepublic sector power biggie already has its largest plant Vindhyachal, with 3,260 Mw thermal power project, in Singrauli in the state. However,the company has yet to overcome hurdles pertaining to land acquisition and pollution related issues. After picking up Barethi in Bundelkhand it has identified a new location in Narsinghpur district which is known for its rich farmers and traders. It is also expanding its existing project by adding another 1,500 Mw in phased manner.
Hero Honda : Ex-Dividend @ Rs 30/share
Indian Hume : Ex-Spilt 5 : 1
PSU oil cos to up petrol prices in Sep first week: NW18
Borosil Glass : Sells Andheri land for Rs 830 crore ((Market cap of Rs 300 crore, debt of Rs 50 crore))
Sources Says: Environment Ministry okays JSPL 2,400 MW Chhatisgarh Unit
Holcim appoints Hewitt Associates for organizational restructuring in ACC and Ambuja, this is seen as a first step towards merger, merger likely in 3-6 months – DNA
Ansal Housing & Construction- Approves issue of 12 lakh warrants at Rs 70/share to promoters
Jindal Poly Films : Board Meet on September 3 for Fund Raising
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