Piramal Enterprises surges of entering into joint venture with Navin Fluorine International

BSE Code - 500302
Face Value -  Rs 2.00
Group -  BSE 'A'
Shareholding pattern -  (a)Promoters - 52.91%
                                   (b)Institutions - 30.41%
                                   (c)Non-Institutions - 16.68%
One year High-Low - Rs 791- Rs 482.65

     Piramal Enterprises (PEL), one of India’s largest diversified companies, and Navin Fluorine International, a Arvind Mafatlal Group Company, have agreed to form a joint venture company (JVC) to develop, manufacture and sell specialty Fluorochemicals with specific focus on applications in healthcare.
     Piramal Enterprises will hold 51% of the equity share capital of the proposed Joint Venture Company and the remaining 49% will be held by Navin. In the first phase of development, the JVC is expected to invest around Rs 120 crore in India.
     The strategic joint venture leverages Navin’s fluorochemicals capabilities and Piramal’s strong presence in healthcare. With the increasing importance of fluorine in life sciences, there is a considerable potential to exploit synergies between the two companies.
     Piramal Enterprises is one of India’s largest diversified companies, with a presence in pharmaceutical, financial services and healthcare information management sectors.
     Piramal Enterprises is currently trading at Rs 692.80, up by 12.65 points from its previous closing of Rs 680.15 on the BSE.

Railway related stocks rally as government notifies 100% FDI in the sector

      Railway related stocks such as Kalindee, Texmaco Rail, Kernex rallied up to 14 per cent in intraday trade on Thursday, after the government notified liberalised FDI norms for the Railways, permitting 100 per cent foreign direct investment through automatic route in several areas, including high speed trains.
     Reacting to the news, Texmaco Rail & Engineering surged as much as 14 per cent, followed by Kalindee Rail Nirman, Titagarh Wagons, Kernex Microsystems, Stone India and BEML which were all locked in upper circuit, up 5 per cent each.

IIFL Holding suges on receiving registration to act as Investment Adviser

BSE Code - 532636
Face Value - Rs 2.00
Group - BSE 'B'
Shareholding pattern (a)Promoters - 30.68%
                                (b)Institutions - 45.15%
                                (c)Non-Institutions - 24.17%
One year High-Low - Rs 146.90- Rs 45.50
     IIFL Holdings has received registration from Securities and Exchange Board of India (SEBI) to undertake Investment Advisory Services.
     IIFL (India Infoline group), comprising the holding company, IIFL Holdings and its subsidiaries, is one of the leading players in the Indian financial services space.
     Current price of stock is Rs 135.20, up by 6.40 points from its previous closing of Rs 128.80 on the BSE.

Sunil Hitech Engineers rallies on bagging orders worth Rs 137.56 crore

BSE Code - 532711
Face Value - Rs 10
Group - BSE 'B'
Shareholding pattern (a)Promoters - 57.84%
                                (b)Institutions - 6.41%
                                (c)Non-Institutions - 35.75%
One year High-Low - Rs 155.05 - Rs 37.50
     Sunil Hitech Engineers (SHEL), a leading construction company focused on infrastructure projects and renewable energy, has bagged new orders aggregating to Rs 137.56 crore. The company has bagged an Rs 86.82 crore order from Bharat Heavy Electricals (BHEL) for the supply of finished product of bunker structures-raw coal bunkers, coal handling transfer points and other ancillary services for the Unit# 3 of 2X660 MW NTPC Mouda STTP Stage II project.
     In another development, the company has also bagged two orders of road construction around Hyderabad City amounting to Rs 50.74 crore. This order further showcases the steps the company is taking to step up business in other Infrastructure verticals such as roads construction etc. on the way to become an Infrastructure conglomerate.
     Sunil Hitech Engineers is engaged in the niche segment of Fabrication, Erection & Testing and Commissioning of Bunkers, ESPs, Boilers, TG sets in the Power Plants, both in Private & Public sector. SHEL is amongst very few companies which are tightly focused in the ever-growing Power Sector, for the last two decades.

     Current price of stock is Rs 129.30, down by 0.85 points from its previous closing of Rs 130.15 on the BSE.

MCX spurts after FMC allows Kotak Mahindra bank to acquire 15% stake in company

BSE Code - 534091
Face Value- Rs 10
Group - BSE 'A'
shareholding pattern (a)Promoters -26.00%
                              (b)Institutions - 36.89%
                              (c)Non-Institutions - 37.11%
One year High-Low - Rs 895 -Rs 322.20

     Forward Market Commission (FMC) has given its approval to Kotak Mahindra Bank (KMBL) for its proposed acquisition up to 15% of equity share capital of Multi Commodity Exchange of India (MCX). Earlier on August 18, MCX board gave its in-principle approval to KMBL for buying 15% stake for Rs 459 crore. The deal with Kotak was initially announced on July 20 and the transaction price was Rs 600 per share.
     MCX, the leading commodity bourse, largely offers futures trading in non-agricultural commodities. The exchange contributes maximum business to the total turnover of the commodity futures market.
     Current stock price is Rs 856.85, up by 41.40 points from its previous closing of Rs 815.45 on the BSE.

Shipping Corporation of India gains on plan to hike a freight rates from September 12

BSE Code - 523598 
Face Value - Rs 10.00
Group - BSE 'B'
Shareholding pattern (a)Promoters - 63.75%
                                (b)Institutions - 20.44%
                                (c)Non-Institutions - 15.81%
One year High -Low Rs 73.25 - Rs 30.05

     Shipping Corporation of India (SCI) will be hiking rates on ISE and IPAK service and (Indian Subcontinent to Europe) with effect from September 12, 2014. The company has taken this step in order to meet increasing operational costs and maintain high level of reliability and proficiency to the customers.
     The Freight rate increase will now be $250/TEU and $500/FEU. It will also be applicable for the shipments from Indian Sub-continent to Europe, Mediterranean, Black Sea & Red Sea trade route.
     SCI is the only Indian shipping company operating break-bulk service, international container service, liquid / dry bulk service, offshore service, passenger service, in addition to manning / managing a large number of vessels on behalf of various government departments and organizations.
     Current sock price is Rs 60.20, up by 0.50 points from its previous closing of Rs 59.70 on the BSE.

TVS Mototr Company rallies, hits 52 week high on growth plans

BSE Code - 532343
Face Value - Rs 1.00
Group - BSE 'B'
Shareholding pattern - (a)Promoters - 57.40%
                                   (b)Institutions - 23.25%
                                   (c)Non-Institutions - 19.35%
One year High - Low - Rs 193.50 - Rs 28.75  

     In a bid to improve its market share, TVS Motor Company is planning to launch a new motorcycle in the commuter segment in the next six month followed by an all-new Apache in the premium category.
     The commuter or executive segment that the Phoenix range is part of comprises motorcycles with engine capacity of 100-125 cubic centimeters. The new product is expected to have 115cc engine capacity.
     The company has an annual installed capacity of 2.8 million two-wheelers and produces around 2,30,000 units a month. Of this, about 1,70,000 units are sold in India the rest is exported. Currently around 1.3 million units of two-wheelers are sold in India every month.
     Current price of stock is Rs 186.95, up by 2.20 points from its previous closing of Rs 184.75 on the BSE.

Supreme Court directs DLF to pay Rs 630 crore penalty

BSE Code - 532868
Face Value - Rs 2.00
Group - BSE 'A'
Shareholding pattern - (a)Promoters 74.92%
                                  (b)Institutions - 20.35%
                                  (c)Non-Institutions - 4.73%
One year High-Low - Rs 242.80 - Rs 121

     Supreme Court (SC) has directed DLF to submit penalty of Rs 630 crore by Competition Commission of India (CCI). The company found guilty of abusing of dominant position in Gurgaon.
     Earlier in May 2014, Competition Appellate Tribunal (COMPAT) had upheld the decision of Competition Commission of India (CCI) in asking the real estate major DLF to pay a penalty of Rs 630 crore for abusing dominant position and violating section 4-2A of the Competition Act.
     DLF is one of India’s largest real estate companies that has over 60 years of track record of sustained growth, customer satisfaction, and innovation. The company has 314 msf of planned projects with 52 msf of projects under construction.

     Current price of stock is Rs 183.05, down by 8.50 points from its previous closing of Rs 191.55

Tata Global Beverages strengthens on plan to expand water portfolio

BSE Code - 500800
Face Value - Rs 1.00
Group -BSE 'A'
Shareholding Pattern -  (a)Promoters - 35.10%
                                    (b)Institutions - 35.26%
                                    (c)Non-Institutions - 27.96%
One year High-Low -  Rs 177.15 - Rs 131.25

     Tata Global Beverages is planning to expand its water portfolio to 10 per cent of its turnover. The company’s water division currently accounts for just one per cent of its turnover. The company also planning to ensure a pan-India rolls out of the portfolio. However, such roll out will happen over a period of time.
      Tata Global Beverages, formerly known as Tata Tea, is a multinational non-alcoholic Beverages Company headquartered in Kolkata, West Bengal, India and a subsidiary of the Tata Group. It is the world's second-largest manufacturer and distributor of tea. Tata Global Beverages markets tea under the major brands Tata Tea, Tetley, Good Earth Teas and JEMCA.
     Current price of stock is Rs 153.05, up by 0.30 points from its previous closing of Rs 152.75 on the BSE.

BEL, BEML, Astra Micro up 5 - 8 per cen on hike in defence FDI limt

     Buyers lapped up shares of Bharat Electronics, BEML and Astra Microwave Products on Wednesday on hike in foreign direct investment limit in defence space. These stocks gained as much as 5-8 percent.
     Department of Industrial Policy and Promotion (DIPP) has notified increase in foreign direct investment (FDI) limt to 49 percent through approval route in the defence sector. FDI ceiling in the sensitive defence sector has been raised from current 26 percent to 49 percent
     Stock move up 5% to 15% Bharat Electronic up 16.28% , BEML up 5% Astra Microwave products up 7.11%
     

GVK Power spurts on awarding first land parcel to Oasis for commerical development

 
BSE Code - 532708
Face Value - Rs 1.00
Group - BSE 'B'
Shareholding pattern (a)Promoters - 54.25%
                                (b)Institutions - 17.28%
                                (c)Non Institutions - 28.47%
One year High-Low - Rs 20.85 - Rs 6.15
     
       GVK Power & Infrastructure's subsidiary, Mumbai International Airport (MIAL) has kicked started monetization of commercial real estate by finalizing lease of one of the parcel, to Oasis Realty. This parcel will have a potential for commercial development of 1.166 million square feet. This is part of the process of overall commercial development of 22 million square feet in phases over a period of 10 years. This transaction has been finalized at the rate of approximately Rs 106 crore per acre which translates to total of Rs 580 crore for this parcel at the rate of approximately Rs 5,000 per square foot of build-up area.
     GVK led consortium took over CSI Airport on May 03, 2006 under Operation, Management and Development Agreement (OMDA) executed between GVK led consortium and Airports Authority of India where operation, development, management, designing, construction, up-gradation, modernization and financing of airport is undertaken by GVK under a right of 30+30 years.
     GVK SkyCity, a master-planned, mixed use development with state-of-the-art planning and architecture, urban design and landscape is an ambitious project set to redefine the face of Mumbai GVK SkyCity shall include  uses like luxury, first class, mid-market and budget hotels, serviced apartments, convention center, entertainment center, retail, office spaces, etc.
      GVK power is currently trading at Rs 13.02, up by 0.62 points from its previous closing of Rs 12.40 on the BSE.

Venus Remedies Ltd rallies on strategic tie-up with Teva

 

 Venus Remedies Ltd rallied as much as 13.9 per cent in trade on Wednesday, after the pharma major said it has entered into a collaborative agreement with Israel-based generic drug marker Teva for selling an anti- cancer drug in the Canadian market.                             
BSE Code -  526953
Face Value - Rs 10
Group - BSE 'B'
Shareholding pattern- (a)Promoters- 37.73%
                                 (b)Institutions- 8.69%
                                 (c)Non-Institutions- 53.58%
One year High-Low - Rs 350 - Rs 163
     Venus Remedies Ltd currently trading at Rs 298.00, up by 40.40 points from its previous closing of Rs 257.60 on the BSE
   

UCO Bank slips after government orders forensic audilt

     UCO Bank slippsed as much as 8.3 per cent in trade on Wednesday, after the government ordered limited forensic audit into some non-performing accounts of Kolkata-based UCO Bank to find out any irregularities in sanction of loans.
BSE Code-532505
Face Value-Rs 10
Group - BSE 'A'
Shareholding pattern - (a)Promoters - 77.20%
                                  (b)Institutions - 13.62%
                                  (c)Non-Institutions - 9.18%
One year High-Low :- Rs 115.72 - Rs 46.00
   
  

     UCO Bank is currently trading at Rs 90.60, down by 7.75 points from its previous closing of Rs 98.35 on the BSE.

RUN BULL RUN

Bharti Airtel introducing cross-network money transfer service in Tanzania

     

     Bharti Airtel has introduced a cross-network money transfer service in Tanzania by partnering with mobile operator Tigo. The service will be available for Airtel Tanzania and Tigo customers, enabling them to experience a secure, fast and easy mode of money-transfer services between the companies mobile money wallets. This partnership with Tigo is a world first service allowing customers to transact directly to their e-wallet or respective recipient's e-wallet.
     Bharti Airtel is a leading integrated telecommunications company with operations in 20 countries across Asia and Africa. The company ranks among the top 5 mobile service providers globally in terms of subscribers.
     Current price of stock is Rs 369.10, up by 3.90 points from its previous closing of Rs 365.20 on the BSE.

Apollo Hospital AGM

 

  Apollo Hospital AGM today to consider revision in the borrowing limits of the company up to a sum of Rs 2500 crore for offer or invitation to subscribe to non convertible debentures on a private placement basis to raise up to Rs 500 crore

Alstrom T&D India zoom on getting big order from Power Grid Corporation of India.

BSE Code :                        522275

Face Value :                      Rs 2.00

Group :                             BSE 'B'

 Sreholding Pattern : 

(a)Promoters                     75.00%

(b)Institutions                    16.55%

(c)Non-Institutions               8.45%           

One year High-Low:             Rs 365.00 - Rs 125.25

     Alstrom the market leader in India power transmission sector, will build two 800 kv, 3000 MW converter terminal stations, and design, manufacture and deliver on turnkey basis 800 kV UJVDC thyristor valves, 32 converter transformer, 400 kV gas-insulated switchgear and substation equipment.
     Shares of Alstom T&D India spiked nearly 10 percent intraday Monday after getting big order from Power Gird Corporation of India for ultra-high voltage direct current link.
     The project also covers the commissioning and successful operation of bothe the terminal stations and their integration with Champa-Kurukshetra Line 1 bipole, currently under construction. The company said all equipment will be manufactured by Alstom's facilities in India, United Kingdom, France and Italy.
     Alstom T&D India share's current price is Rs 335.05,up by 17.50 points from its previous closing of Rs 317.55 on the BSE.

Sonata Software trades higher on bourses to acquiriing controlling stake in Rezopia

   BSE Code :                         532221

   Face Value :                       Rs 1.00

   Group :                            BSE 'B'

   Shareholding pattern

   (a)Promoters                      32.79%

   (b)Institutions                    5.23%

   (c)Non-Institutions              61.98%   

    One year High-Low            Rs 102.05 - Rs 23.40 

     Sonata Software, a global IT services company with a strong footprint in the Travel industry segment, has acquired controlling stake in Rezopoia Inc., the first cloud based end to end reservations, contracts, operation and distribution management systems platform for travel provider, headquartered in California, USA. The acquisition is aimed at enabling both companies to leverage mutual strengths and opportunities in serving emerging IT solution needs in the global Travel industry.
     Sonata Software is focused on innovative solutions for Travel, Retail and CPG  verticals driven through integrating technologies such as Omni-channel commerce, Mobility, Analytics and Cloud.
     In a separate transaction, Sonata Software will also acquire the businesses of Xyka India, which is the primary service provider to Rezopia's platform.
     Sonata Software is currently trading at Rs 99.20, up by 1.30 points from its previous closing of Rs 97.90 on the BSE.

Genus Powe surges on zooms on plan to disinvest its Home & Industrial Products business

BSE Code :                    530343

Face Value:                   Rs 1.00

Group :                       BSE 'B'

Shareholding pattern :

 (a)Promoters               50.49%

 (b)Institutions              0.11%

 (c)Non-Institutions       49.40.%  

One year High-Low        Rs 33.00 - Rs 9.02

     Genus Power Infrastructures has received an approval to transfer/sell/dispose of company's Home & Industrial Products (HIP) business, subject to approval of members and other regulatory authorities, if any. The board of directors at its meeting held on August 21, 2014 has approved for the same.
     Genus Power Infrastructures is engaged in the manufacturing and distribution of electronic energy meter, power distribution management projects, hybrid microcircuits, inverters, batteries, home UPS and online UPS in India and abroad.
     Home & Industrial Products is engaged in manufacturing of a complete range of Inverters/UPS, Solar PCU and Batteries.
     Genus Power Infrastructures is currently trading at Rs 29.25, up by 0.60 from its previous closing of Rs 28.65 on the BSE.

Arvind trade higher on bourses

BSE Code -                      500101

Face Value:                     Rs 10

Group :                         BSE 'A'

Shareholding pattern:

(a)Promoters                   43.46%

(b)Institutions                 36.99%

(c)Non-Institutions            19.42%

One year High-Low            275.60- 70.55 

     Arvind's subsidiary company - Arvind Lifestyle Brands, has entered into an agreement with Gap Inc., to open Gap stores in India. Besides, the company has entered into a franchise agreement with The Children's Place, the largest pure play children's specialty apparel retailer in North America.
     Arvind has portfolio of 12 its own brands. It also runs the country's largest value retail chain Megamart and the UK- based department store chain Debenhams, and the apparel specialty retail chain Next Arvind has over 1.3 million square feet of retail space across variious brands.
     Arvind Ltd is currently trading at Rs 272.45, up by 16.55 points from its previous closing of Rs 255.90 on the BSE.
     

Credit- rating agency ICRA has downgraded Jet Airways debts to "D" rating from"BB"

BSE Code                     532617

Face Value                   Rs 10

Group                         BSE 'A'

Shareholding: 

(a)Promoters                 51%

(b)Institution                7.85%

(c)Non-Institutions           41.15%

One year High-Low:        Rs 414.70 - Rs 210.25

     Jet Airways is a major Indian airline based in Mumbai. It is the second largest airline in India, Its main hub is Mumbai, with secondary hubs at Delhi, Kolkata, Chennai, Bengaluru.
     Jet Airways executives will meet credit ratings agency ICRA on Monday, following Saturday,s downgrade of its debt rating to 'D' from 'BB' after the airline failed to meet loan repayment schedule.
     The rating may make it difficult for the cash-strapped airline to raise additional loans. It recently raised $150 million worth of soft loans with help from its strategic partner Etihad Airways.
     Jet posted a net loss of Rs 217.7 crore for the first quarter of the current financial year, down from Rs 355.4 crore a year earlier.
     Jet Airways currently trading at Rs 235.00,down by 9.55 points from its previous closing of Rs 244.55 on the BSE. 

Stocks in news

Jet Airways Ltd: 

Credit-rating agency ICRA has downgraded Jet Airways' debt to "D" rating from "BB" after it "got information" on payments by the airline. According to Icra's rating scales, "Instruments with 'D' rating are in default or are expected to be in default soon." 

Financial Technologies Ltd:

 The Securities Appellate Tribunal (SAT) has asked Jignesh Shah-promoted Financial Technologies to approach Sebi for seeking extension of time for divesting existing holdings in MCX-SX and four other entities. 

Reliance Industries Ltd:

 While a secretaries' panel set up last week is about to go into the vexed issue of gas pricing, Reliance Industries chose not to withdraw an arbitration notice sent to the Centre in May for the latter's failure to keep the promise of a new gas price from July. RIL has written to the petroleum ministry contending that the government is not within its right to compel it to sell gas at below market price, said media reports. 

ONGC, OIL:

 A four-member committee of secretaries (CoS) set up by the government to review the gas-pricing formula will on Monday hold its first meeting with stakeholders, media reports said quoting a petroleum ministry source. 

Stocks in news

Jindal Steel Ltd: 

Naveen Jindal's JSPL says its stand against the BOlivian government has been vindicated by Paris based the International Chamber of Commerce which has ordered Evo Morales' Bolivian government to pay the company $22.5 million. 

Asian Paints Ltd:

 The paint company on Friday said its step-down subsidiary Berger International Ltd (BIL) has filed an application for investment approval with the regulatory authorities for setting up a paint manufacturing facility in Indonesia. 

TCS & ITC Ltd: 

Tobacco-to-FMCG conglomerate ITC has replaced Tata group's IT giant TCS as the country's most admired company on a Fortune magazine list, which has got as many as 19 new entrants including Cognizant, Birla group firm Idea Cellular and discom BSES Rajdhani Power Ltd. 

GAIL India Ltd:

 The Narendra Modi government has pulled out from the cold storage a Rs 10,000 crore pipeline project that would make it possible to provide CNG and PNG services in these cities and revive sick fertilizer plants in the region. 

Pre Market

     Derivatives contract expiry this week, so  markets may remain volatile.Expiry of monthly derivatives contract on Thursday is expected to raise caution on bourses.Besides, trend in investment by overseas investors, global cues, movement of rupee against the dollar and crude oil price will be important triggers for the markets.
     At 07:30 a.m., Nifty India stock futures in Singapore were trading 15.50 points lower at 7,916 indicating flat-to-negative opening on the domestic market. 
     Nifty ended the day with a gain of 22 points at 7913 after a range bound day of trade on Friday. The BSE S&P Sensex closed the week slightly lower at 26,419.55. In straight two weeks, it has zoomed 1,090.41 points or 4.30 per cent. 
     Globally, US Fed chairman Janet Yellen maked a mild departure from her ultra dovish stance at Jackson Hole saying the economy is getting closer to the central bank’s  goals on full employment and stable inflation. Wall Street ended mixed while the dollar is back at 11-month high.
    Asian markets were TRADING mixed on flattish US lead and over Ukraine woes. The Nikkei is higher as the yen breached the 104 level and is currently sitting at 6-month lows. 

     The euro fell to its lowest in nearly a year against a broadly firmer dollar after comments from the head of the European Central Bank raised prospects of more policy easing.

     Brent crude, meanwhile, was under pressure on a strong dollar and plentiful supplies. It is currently below USD 112. 

     Back home, Finance Minister, Arun Jaitley is likely to hold a review meet on goods and services taxes (GST) today. Sources have indicated that the meet could examine states' demands on constitutional amendment bill.

     Stock market will remain closed on Friday for 'Ganesh Chaturthi'.

KEC International strengthens on raising Rs 75 crore on private placement basis

    

      KEC International is a global infrastructure Engineering, Procurement and Construction (EPC) major. It has a presence in the verticals of power transmission, power system, cables, railways, telecom and water. KEC International has raised an amount of Rs 75 crore on private placement basis. The company has allotted 750 secured, rated, listed, redeemable, non-convertible debentures (NCDs) of the face value of Rs 10 lakh to HDFC Trustee Company A/c HDFC Corporate Debt Opportunities Fund.
    The promoters holding in the company stood at 50.01% while Institutions and Non-Institutions held 35.03% and 14.96% respectively.
    The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 153.00 and a 52 week low of Rs 23.25 respectively.
    Current price of stock is Rs 109.65, up by 0.20 points from its previous closing of Rs 109.45 on the BSE.

Wipro launched a global Customer Experience Centre (CEC) at its Mountain view office in California

   

      Wipro, a leading global Information Technology, Consulting and Business Process Services company, has launched a global Customer Experience Center (CEC) at its Mountain View office in California. United States. The lab is designed to demonstrate emerging technologies, test proof of concept and give customers the opportunity to see the latest data center, enterprise and cloud solutions in real-world, real-time scenarios.
     Wipro is a leading provider of analytics and information management solutions - enabling customers to derive actionable business insights from data to drive growth, enhance cost management and strengthen risk.
     The promoters holding in the company stood at 73.44% while institutioins and Non-Institutiions held 13.36% and 11.26% respectively.
     The BSE group 'A' sstock of face value Rs 2 has touched a 52 week higj of Rs 610.50 pm 26-Feb-2014 and a 52 week low of Rs 435.70 on 22-Aug-2013.
     Current price of share is Rs 557.00, up by 6.55 points from its closing of Rs 550.45 on the BSE.
    

Gammon India soars on plan to sell 52.80 crore equity shares of Gammon Infrastructure Projects

   

      Gammon India has received an approval for sale of 52.80 crore equity shares held by the company in its subsidiary viz. Gammon Infrastructure Projects to its another subsidiary viz. Gammon Power, subject to all the necessary approvals. The board of directors at its meeting held on August 21,2014 has approved for the same. 
     Gammon India provides engineering services and construction of services. It operates in plan, design and undertakes construction of roads, highways, bridges and other projects.
     The promoters holding in the company stood at 34.99% while Institutions and Non-Institutions held 26.20% and 38.81% respectively.
     The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 38.50 and a 52 week low of Rs 8,15 respectively.
     Current price of stock is 31.30, down by 0.10 points from its previous of Rs 31.40 on the BSE.

SpiceJet rallies over 7% on fresh capital infusion plan

 
      SpiceJet is India's most preferred airline who delivers the lowest air fares with the highest consumer value. The airline currently operates more than 350 daily fights to over 44 Indian cities and 9 international
     Budget carrier SpiceJet's promoters will make a fresh infusion in the cash-strapped airline. The airline's board decide to issue warrants to the promoters on a preferential basis. The warrants are convertible into equity shares. Kalanithi Maran, owner of Sun Group, controls 53.5 per cent stake in the airline.
     The airline will issue and allot up to 189.1 million warrants convertible into equivalent number of equity shares, in various tranches, to the promoters of the company, at a price to be determined according to Securities and Exchange Board of India (SEBI) regulations
     The promoters holding in the company stood at 53.48% while Institutions and Non-Institutions held 0.86% and 45.66% respectively.
     The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 23.05 on 23-Sep-2013 and a 52 week low of Rs. 11.10 on 13-Aug-2014.
     Current price of stock is Rs 14.78, up by 0.22 points from its previous closing of Rs 14.56 on the BSE..

Axis Bank to raise Rs 6,000 crore through bonds

     

     Private sector player Axis Bank on Thursday said it proposes to raise Rs 6,000 crore from bonds to fund its business growth. The board has approved issuance of long term bonds on non-convertible debentures up to Rs 6,000 crore on a private placement basis.
     The approval of shareholders of the Bank in terms of the provisions of Companies  Act, 2013 is proposed to be obtained by way of Postal Ballot.
     The bank's net profit for the quarter rose by 18.29% at Rs 1666.76 crore as compared to Rs 1408.93 crore for the quarter ended June 30,2013. It total income increased by 10.71% to Rs 9980.93 crore for the quarter under review from Rs 9059.12 crore for the corresponding quarter of the previous year.
     The promoters holding in the company stood at 29.17% while Institutions and Non-Institutions held 59.53% and 7.87%  respectively.
     The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 408.59 and a 52 week low of Rs 152 respectively.
     Current price of stock is Rs 402.35, up by 3.65 points from its previous closing on the BSE.

GlaxoSmithkline advances on buzz of its plans of setting set up manufacturing facility in Andhra

   

      GlaxoSmithkline Consumer Healthcare is subsidiary of GlaxoSmithKline plc of UK, a global science based healthcare company. GlaxoSmithkline Consumer Healthcare's core business is manufacturing of health dirnks under the brand Horlicks. It exports products to countries like Bangladesh, Myanmar, Sri Lanka, Middle East, Fiji, Mauritius, Nepal, Bhutan and many more
     GlaxoSmithKline Consumer Healthcare (GSK Consumer Healthcare) is reportedly planning to set up a large manufacturing facility close to the east coast in southern Andhra Pradesh. In this regard, the company has shortisted one location each in Nellore and Chittoor for the plant, which will produce Horlicks and Boost branded products with an investment of up to Rs 1,000 crore.
     Further, GSK is scouting for about 100 acres of land at the two locations, apart from connectivity to the natural gas grid, and has conveyed plans to produce Foodles, which is its instant noodles product, biscuits and oats under the Horlicks brand, apart from health food drinks.
     The promoters holding in the company stood at 72.46% while Institutions and Non-Institution held 12.78% and 14.77% respectively.
     The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 4992.80 on 29/5/2014 and a 52 week low of Rs 3875.00 on 28/7/2013.
     Current price of stocks is Rs 4970.05, up by 30.60 points from its previous closing of Rs 4939.45 on the BSE.
     

Canara Bank strengthens on plan to sell around Rs 900 crore of bad loan to ARCs

 

       Canara Bank, a leading nationalized bank, is planning to sell around Rs 900 crore of bad loans to asset reconstruction companies (ARCs). The bank had already sold Rs 600 crore in the first quarter of the current fiscal and another Rs 1,300 crore in the fourth quarter last year. The bank's gross NPA for the April-June quarter of the current fiscal stood at 2.67%, as compared to 2.91% in the same quarter of the previous year. The bank is aiming to bring down non-performing assets ratio to 2 per cent by March next year.
     Meanwhile, the bank has sought Rs 500 crore from the government and is awaiting the government's approval for raising Rs 3,000 crore from qualified institutional investors.
     The bank's net profit for first quarter ended June 30,2014 rose by 1.86% at Rs 806.86 crore as compared to Rs 792.07 crore for the quarter ended June 30, 2013. Its total income increased by 11.61% to Rs 11728.01 crore for the quarter under review from Rs 10507.88 crore for the corresponding quarter of the previous year.
     The promoters holding in the company stood at 69.00% while Institutions and Non-Institutions held 24.09% and 6.92% respectively.
     The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 498.00 and a 52 week low of Rs 189.90 respectively 
     Current price of stock is 394.15, up by 5.95 points from its previous closing of Rs 388.20 on the BSE.
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KNR Constructions locks at upper circuit on onders win

 

       Company will construct road over bridge on Davanagere - Channagiri road and on Ramdurga -Badami road. The project is expected to be completed within 24 months.
     The company reported a standalone net profit of Rs 19.79 crore in June 2014 qiarter, up 78.44 per cent, from net profit of Rs 11.09 crore in the corresponding quarter last fical
     Shares of KNR Constructions were locked at 5 per cent upper circuit on begging Rs 68.37 crore orders from Government of Karnataka.
     The promoters holding in the company stood at 70.14% while Institutions and Non-Institutions held 15.93% and 13.93% respectively.
     The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 265.45 and a 52 week low of Rs 46.40 respectively.
    The stock was locked at 5 per cent upper circuit at Rs 227.60 on the BSE.

Tata Motors speeds up on buzz of its plans of using hub-and-spoke' manufacturing model abroad

     Tata Motors is reportedly planning to use 'hub-and-spoke' manufacturing model where it will set up mini-hubs in potential markets like Africa (South Africa, East Africa and North Africa), the Middle East and South East Asia.
     The second phase will embark on setting up small assembly bases in Europe and Latin America. The company has set a target to be among the top 5 players, in those markets.
     the commercial vehicle business expects almost 25 per cent (160,000 units) of its overall production to accure from overseas markets in the next three-to-four years from the current 12-13 per cent share. The compnay currently has 50,000 units.
     Tata Motors is India's largest automobile company, is the leader in commercial vehicles in each segment, and among the top in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. It is also the world's fourth largest truck and bus manufacturer.

Sugar stocks rally after government ups import duty to 25%

   

 In a bid to provide relief to the sugar industry, the government on Friday decided to increase import duty on the sweetener from 15 percent to 25 percent. The industry which owes Rs 15,000 crore to sugarcane growers, has been demanding an increase of 40 percent. At a high level meet in June headed by Union food minister Ram Vilas Paswan, it was decided to raise sugar import duty to 40 percent from the existing 15 percent and provide export subsidy of Rs 3,300 per tonne till September this year.
     All suger stocks rally upto 4-6%,Andhra sugar up 3.14%, renuka sugar up 3.95%, balrampur chini up 2.72%,Dharani sugar up 4.30%, bajaj hindustan up 4.21%

Stocks in news

Jyothi Laboratories Ltd

          In a top management reshuffle, FMCG firm Jyothy Laboratories Ltd today said its Joint Managing Director K Ullas Kamath has been entrusted with an additional responsibility of Chief Financial Officer (CFO) of the company. 

CEAT

           Ceat board meeting will be held on August 26, 2014, for considering further issue of securities through issuance of equity shares or debentures or equity linked securities and/or any instrument convertible into equity shares by way of private or public offerings, including qualified institutes placement and/or on a preferential allotment basis.

SpiceJet Ltd

              Low-fare carrier Spicejet on Thursday announced that its board has decided to issue 18.91 crore convertible warrants to its promoter Kalanithi Maran, even as the loss-making airline looks out for external funding.   

GlaxoSmithKline Consumer Healthcare Ltd

            The maker of Horlicks and Boost health food drinks, is looking at setting up a large manufacturing facility close to the east coast in southern Andhra Pradesh, a senior bureaucrat said. 

United Breweries Ltd

            United Breweries' largest shareholder Heineken NV has further consolidated its holdings in the Vijay Mallya-led firm by picking up 2.5 lakh shares for a little over Rs 18 
                                                           

Stock in news

Ranbaxy Laboratories Ltd 

     Ranbaxy Laboratories may have to pay another hefty fine in the United States of close to Rs 240 crore, this imposed by the State of Texas, people familiar with the matter.

HDFC Bank Ltd 

     The Finance Ministry today said it is looking at issues connected with HDFC Bank's proposal to raise FDI limit in it and will take a decision shortly.

United Spirits Ltd

     National Stock Exchange of India Ltd (NSE) has excluded United Spirits Ltd from its equity derivatives segment, since the company has not submitted results for 2013-2014 and the quarter ended 30 June.

Wipro Ltd

     IT services major Wipro today said it has launched a global Customer Experience Centre (CEC) at its Mountain View office in California.

Canara Bank

     State-run Canara Bank is planning to sell Rs 900 crore of sticky to asset reconstruction companies this quarter in an effort to clean balance sheet.

Pre-market, Nifty seen opening higher, may reclaim 7900 levels

     The 50-share Nift index is expected to open higher on Friday following positive trend seen in other Asian markets. Tracking the momentum, the index is expected to reclaim its crucial psychological level of 7900 in trade today.
      At 07:30 a.m., Nifty India stock futures in Singapore were trading 11 points higher at 7,918 indicating flat-to-positive opening on the domestic market.
     Benchmark indices remained range bound for second succession trade on Thursday and closed marginally in green in the end.
     Overnight, U.S. stocks ended higher as existing home sales jumped to a 10-month high and initial jobless claims dropped sharply, painting a picture of an economy that is slowly improving.
     Global markets are awash with positive sentiment as the S&P 500 hit a new record as a host of US economic data positively surprised amidst optimism that Federal Reserve chairman Janet Yellen will continue to maintain a dovish stance in her speech at Jackson Hole today. Asian and the European markets both were is positive in trade. Asian shares were trading higher 
     Now all eyes are on Federal Reserve Chair Janet Yellen's speech on Friday at a policymakers' meeting in Jackson Hole, Wyoming, which could provide clues on the timing of an interest-rate hike 
     In other asset classes, the dollar hovered just below its 2014 peak against a basket of major currencies, with the bulls turning cautious ahead Yellen’s speech. 
     Brent crude prices slipped, hurt by an increase in supplies and precious metal gold settled at its lowest level since late June, extending losses to a fifth session, following a technical sell-off after prices broke below a key support level

Wall Street climbs to record after data, Jackson Hole ahead

     

     US stocks inched higher on Thursday and the S&P reached a record high, lifted by daya pointing to steady improvement in the economy, as investors awaited the start of a meeting of top central bankers and economists in Jackson Hole, Wyoming
     Policymakers are due to discuss the labour market of major economies at the August 21-23 meeting, with US Federal Reserve Chair Janet Yellen scheduled to speak Friday. Investors will peruse official's remarks for clues on the timing of an interest rate hike.
     A flurry of US economic data, including a rise in home re-sales to a 10-month high and a decline in initial jobless claims, pointed to an economy that continues to slowly gain strength.
     Ebay shares jumped 4.7 per cent to $55.91 on a report the company was mulling spinning off its PayPal unit as soon as next year.

Jindal Saw strengthens as its arm plans to acquire assts of PSL-North America

   

     Jindal Saw through it step-down subsidiary, Jindal Tubular USA LLC has entered into an asset purchase agreement on June 16, 2014 with PSL-North America LLC for the acquisition of identified assets and liabilities of PSL-North America LLC. The acquisition is expected to be completed on or prior to August 16, 2014.
     The acquisition was subject to the outcome of voluntary petition for relief filed by PSL-North America LLC under Chapter 11 of Title 11 of the United State Code in the US Bankruptcy Court for District kof Delaware including counter bids by various other bidders and possible objection by lender and creditors of PSL-North America LLC.
     The United States Bankruptcy Court for the district of Delaware has passed an order on August 15, authorising and approving the sale of substantially all of PSL North America's assets to Jindal Tubular in accordance with the terms of asset purchase agreement, free and fair of all liens, claims, encumbrances and other interests.
     Jindal Saw is in a commanding position in India's tubular market, being the undisputed leader with a turnover in excess of Rs 7,000 crore. The business operations are highly structured with three strategic business units, large diameter pipes, seamless tubes, and DI (ductile iron) pipes. Every SBU has its own dedicated sales and marketing targets and operations.
     The promoters holding in the company stood at 46.27% while Institutions and Non-Institutions held 30.72% and 12.01% respectively.
     The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 95.90 on 11-Jun-2014 and a 52 week low of Rs 42.40 on 21-Aug-2013.
     Current price of stock is Rs 80.85, down by 0.70 points from its previous closing of Rs 81.55 on the BSE.

Aries Agro trade jubilantly on commissioning first Captive Solar Power generation unit.

   

     Aries Agro has commissioned its first Captive Solar Power generation unit with a capacity of 100 KW at its second largest manufacturing facility in Hyderabad on August 20,2014. Set up at a project cost of Rs 80.51 lakhs, this Solar Power generation will streamline the availability of power for manufacturing operations.
    The project was considered essential to reduce the dependence of fossil fuels and erratic grid power supply in the State of Telangana and is expected to also result in an appreciable savings in power and fuel expenses.
     The promoters holding in the company stood at 52.74% while Institutions and Non-Institutions held 7.24%and 40.02% respectively.
     The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 99.50 on 7-Jul-2014 and a 52 week low of Rs 34.50 on 12-Nov-2013.
     Current price of stock is 86.90, up by 3.85 points from its previous closing of Rs 83.05 on the BSE.

TVS Motor Company surges on lanching TVS Scooty Zest 110

   

     Adding a new and snazzier dimension to its iconic Scooty brand, TVS Motor Company has launched its much awaited TVS Scooty Zest 110. The all new TVS Scooty Zest 110 offers customers an optimum balance of power, performance, ride quality and handling along with a host of other attractive features, while staying true to its Scooty DNA.
     TVS Scooty Zest 110 comes with fresh and modern styling, replete with vibrant graphics in eyecatching colours. Its larger zippy, refined nextgen 109.7 cc engine effects a remarkable initial pickup of 0-60 kmph in a mere 11.1 seconds. TVS Scooty Zest 110 offers outstanding ride comfort, while seamlessly straddling extremes to maximize the joy of riding.
     TVS Scooty Zest 110 has the best maneuverability, while simultaneously providing superior road grip, stability and control by way of its ergonomics, ride handling geomerty and tubeless tyres. Comfortable seating delivered by a broader and longer double stitched seat, telescopic front suspension and hydraulic mono shock rear spring suspension, assure the rider of a peppy and stress free ride. TVS Scooty Zest 110 enjoys best-in-class under-seat storage capacity of 19 litres and yet, is among the most compact scooters in its category.
   TVS Motor Company is the flagship of the $7 billion Indian conglomerate TVS Group which recently celebrated one hundred year in the automotive business in India. The company has recorded 23% growth in sales during the month of June 2014. with total primary sales increasing from 164,128 units recorded in the month of June 2013 to 202,177 units in the month of June 2014.
     The promoters holding in the company stood at 57.40% while Institutions and Non-Institutions held 23.25% and 19.36% respectively
      The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 187.90 on 12-Aug-2014 and a 52 week low of Rs. 28.75 on 04-Sep-2013.
     Current price of stock is Rs 177.90, up by 0.70 points from its previous closing on the BSE.
  

Zee Entertainment advance on plan of expanding its '&' brand

   

     Zee Entertainment Enterprises (ZEE) is planning to expand its '&' brand and is aiming to build a network of channels under it to target the changing consumption trends of youth and premium segment viewers. The company would first come out with '&' brand Hindi general entertainment channel (GEC) and later may take it into the regional space.
     At present, the company is beaming a movie channel '& Pictures' under this brand. The company which has recently launched a new GEC Zindagi targeting premium mass Hindi segment would keep on adding more shows from neighbouring countries as Pakistan, Bangla Desh to Egypt, Turkey and even Latin America.
     Further, the company will  also coproduce the shows in those countries, with local talents. It has already started working on six shows,which would be produced in Pakistan.
     Zee Entertainment is India's largest vertically integrated media and Entertainment Company. Its portfolio consists of brands like Zee TV, Zee Cinema, Zee Music, Zee Cafe, Zee Smile, Zee Action, Zee Premiere, ETC, ETC Punjab, TEN Sports, Zee Studio, Zee Classic, Zee Trendz and Zee Sports.
     The promoters holding in the company stood at 43.07% while Institutions and Non-Institutions held 52.00% and 4.93% respectively
     The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 310.75 and a 52 week low of Rs 208.20 
     Current price of stock is 291.90, up by 3.70 points from its previous closing of Rs 288.20 on the BSE.

Indiabull Real Eastate getting rating re-affirmation for CP issue by CARE

   

      Credit rating agency CARE has reaffirmed 'A1+' rating to Indiabulls Real Easte's (IBREL) commercial paper (CP) issue worth Rs 500 crore. The rating continues to derive strength from the track record of the management to execute and mobilize funds for the projects, IBREL's recognized brand name, moderate financial leverage, availability of sizeable land bank and healthy booking resulting in comfortable revenue visibility.
     IBREL is engaged in real estate development, directly as well as through various subsidiaries and associate companies. The main focus of IBREL is construction and development of properties, project management, investment advisory and construction services.
     The promoters holding in the company stood at 48.94% while Institutions and Non-Institutions held 31.01% and 19.94% respectively.
     The BSE group 'A' stock of face value Rs.2 has touched a 52 week high of Rs 109.45 and a 52 week low of Rs 45.10  respectively.
     Current price of stock is Rs 71.55, down by 2.45 from its previous closing of Rs 74.00 on the BSE.

Bombay Dyeing soars on Plan to enter into manafacturing of textile upholstery, curtains

   

      Bombay Dyeing & Manufacturing Company is planning to foray into manufacturing and marketing of textiles upholstery and curtains. At present, the bed and bath products have been the mainstay of the company's textiles business. Within that segment, the company has brought in new products- the latest being the mattresses.
     Moreover, the launch of the new products could take place early next year. The entry of Bombay Dyeing into upholstery and curtains would mean introduction of tailoring services at retail points.
     Further, the company has planned to increase own retail outlets to 50 from the current 22 in the domestic market. It is also experimenting with larger format of the stores to stock and display expanded product portfolio. The company has around 450 stores in the country, predominantly owned by franchisees
     The company is engaged in manufacturing wide range of cotton suitings, polyester cotton suitings, shoe lining and duck fabrics, satin furnishings, yarn dyed fabrics, towels, table tops and napkins, satin bed sets, etc.Textile manufacturing is main activity of Bombay Dyeing with 5 manufacturing facilities confirming to international standards.
     The promoters holding in the company stood at 52.35% while Institutions and Non-Institutions held 19.78% and 26.51% respectively.
     The BSE group 'B' stock of face value Rs 2 has touched  a 52 week high of Rs 87.55 and a 52 week low of Rs 43.30
     Current price of stock is Rs 69.65, up by 0.15 points from its previous closing of Rs 69.50 on the BSE.

Claris Lifesciences zooms on receiving MHRA approval for newly commissioned plant

    

     Claris Lifesciences has received the MHRA approval for its newly commissioned plant, which will help the company in enhancing capacities to grow in the regulated markets, especially the European Union.
     The Company's flagship plant (Plant 1) is already approved by MHRA-UK. This is the first regulatory inspection and compliance approval conducted by MI-IRA-UK in line with the EU GMP regulations for Plant 2, this approval is for Terminally Sterilized products presented in glass ampoules manufactured in Line 1 of the Plant 2.
     Further, the company has plans to install another line in this new plant (Plant 2) which will be ready for commercial production by the end of this year. The existing line has capabilities to manufacture Aseptic Sterilized products as well, and the new line will have the capability to manufacture Lyophilized Products.
     Back in June, the company acquired approvals of 13 ANDAs in US, 14 molecules in the Europe and 11 molecules in Other Regulated Markets (ORM). Additionally, the company has 28 ANDAs in the US, 8 molecules in Europe and 10 molecules in ORM, which are filed and awaiting approval.
     The company is currently functioning at high capacity utilization and is adding capacities in Plant 2 to service future demands. It has a large pipeline of products; which includes the under approval and the products currently under development.
     The promoters holding in the company stood at 60.99% while Institutions and Non-Institutions held 24.73% and 14.28% respectively.
     The BSE group 'B ' stock of face value Rs. 10 has touched a 52 week high of Rs. 229.00 on 30-Dec-2013 and a 52 week low of Rs. 141.25 on 02-Jun-2014.
     Claris Lifesciences is currently trading at Rs. 181.35, up by 6.00 points  from its previous closing of Rs. 175.35 on the BSE.

Stock in news

GCPL: 

     FMGC major Godrej Consumer Products Ltd (GCPL) is looking at a double digit growth this fiscal on the back of uptake in urban demand amid positive sentiments in the market. 

Deepak Fertilizers: 

     Competition Commission has approved Deepak Fertilizers' proposed additional stake buy in Vijay Mallya group firm Mangalore Chemicals and Fertilizers. 

Venus Remedies: 

     Pharma major Venus Remedies has secured its first marketing authorisation in Switzerland from Swiss drug authority 'Swissmedic' for its oncology drug 'Gemcitabine'. 

Dr Reddy's Laboratories Ltd:

      Drugmaker Dr Reddy's Laboratories has come under the scanner of Department of Justice of USA for alleged violations of some provisions of Consumer Product Safety Act involving child resistant packaging regulations.

ZEE Entertainment & United Spirits: 

     Zee Entertainment will soon be a part of the 50-share benchmark Nifty index after replacing United Spirits, which was first included in the index earlier this year in March. 

Jindal SAW Ltd: 

     Jindal Saw announced that Jindal Tubular USA LLC, an entity incorporated in the US and step down subsidiary of the Company (it is wholly owned by S V Trading, Navis which in turn is a wholly owned subsidiary of the Company), had entered into an asset purchase agreement on 16 June 2014 with PSL-North America LLC for the acquisition of identified assets and liabilities of PSL-North America LLC. 

Stock in news

Reliance Industries Ltd: 

     The Oil Ministry is considering ordering Reliance Industries to stop selling KG-D6 crude oil to its Jamnagar refinery and instead sell it to Chennai Petroleum Corp Ltd (CPCL) at lower rates. 

Hindustan Zinc Ltd: 

     Responding to the Prime Minister Narendra Modi's call to corporates to build separate toilets for women, Vedanta Group company Hindustan Zinc announced that it will construct another set of 10,000 toilets in Rajasthan

SAIL & Tata Steel Ltd: 

     Less than three weeks after acquiring a large coal property in Mozambique, Steel Authority of India0.57  Ltd is looking for more. Together with Tata Steel Ltd the state-run company is scouting for fresh acquisition of overseas coal assets to ensure continuous supply of coking coal, a key raw material in steel production. 

Tata Motors Ltd: 

     Tata Motors plans to launch two vehicles every year till 2020 as the company looks to ramp up its product portfolio in the competitive Indian car market. 

ONGC: 

     As many as 14 merchant bankers, including Citigroup Global, Barclays Plc and Morgan Stanley, have made a beeline for managing the 5 per cent stake sale of ONGC, which could fetch over Rs 17,000 crore to the exchequer. 

DLF Ltd: 

     Realty major DLF plans to reduce its debt to Rs 12,000-14,000 crore by FY17 through asset monetisation and increasing cash-flows from sales. 

TVS Motor Company Ltd: 

     Two and three-wheeler manufacturer TVS Motor Company  today launched upgraded variant of its popular scooterette, the Scooty Zest, expanding its portfolio in the segment. 

Pre-market: Nifty seen opening flat: may trade in narrow range

     The 50-share Nifty index is expected to open flat on Thursday following muted trend seen in other Asian markets. Tracking the momentum, 
     At 07:30 a.m., Nifty India stock futures in Singapore were trading 9.5 points higher at 7,892 indicating flat opening on the domestic market. 
     Nifty ended the day with a marginal loss of 22 points at 7875 on Wednesday. The index may continue to inch higher over the next three to five sessions till 7958 and beyond that it may even test 8047 in case of extreme bullishness. 
     Overnight, U.S. stocks ended mostly higher after minutes from the Federal Reserve's July meeting gave investors reason to believe that the central bank is in no rush to raise interest rates. the US Federal Reserve is expected to release the minutes of the latest FOMC meeting at 11:30 pm tonight. Investors hope that the minutes will shed further light on the Federal Reserve's exit strategy from its asset-purchasing programme and ultra-low benchmark interest rate. Some hawkish Fed members, like Philadelphia Fed president Charles Plosser, have already started beating the drums of an early interest rate increase.The focus of Wall Street though is on the annual symposium on monetary policy in Jackson Hole
     US markets gained on Wednesday with the S&P 500 closing near record highs as FOMC minutes indicate that Fed will continue to support the economy
     Meanwhile, the dollar index scales the 82 mark with the greenback at a 11-month high versus the euro.
In the currency space, dollar traded at 11-month highs against a basket of major currencies after minutes of the Federal Reserve's July meeting sounded slightly hawkish. In commodities, brent crude saw more modest gains, as it recovered after falling to a 14-month low. From precious metals space, gold lost to a fifth session to trade near a two-week low after the US dollar strengthened.