Market Outlook: - Markets ended a range-bound day on minor gains as profit booking continues to cap upside. - Markets globally are set for posting a weekly gain but participants seem cautious ahead of FED Chief’s expected statements on interest rates due later today. - Nifty is likely to open with gains but we could be in for another range-bound session as resistance to 8k mark persists. News: - NSE has decided to exclude United Spirits (UNSP IN) from equity derivatives segment since Co has not submitted results for FY14 & quarter ended 30 June. - Fin. Ministry indicated that restrictions on gold import scheme are likely to continue till situation becomes more comfortable. - NHAI has approved proposal to set up an ARC to revive stressed projects. NHAI will have a 25% stake with the remaining 75% being offered to financial institutions. - RBXY IN: As per media reports, Co will have to pay a Rs 2.42bn fine to US authorities due to violations found at its factory in Toansa, Punjab. It will be second such penalty after it paid $500mn to US Dept. of Justice (DoJ) in May 13. - FTECH IN: Co. which is promoter of Multi Commodity Exchange (MCX IN), has proposed a 40% cut in its annual maintenance contract (AMC) fees with bourse as part of renegotiation of controversial technology contracts. - LT IN: Co has said that its construction arm has bagged contracts worth Rs 18.32bn since July. - CAIR IN: Environment Ministry has given clearance to Co to raise crude oil production from its Rajasthan block by 50% to 300,000bpd. - ARVND IN: Arvind Lifestyle Brands, a subsidiary of Co. has entered into franchise arrangement with The Childrens Place (TCP) & expects to open its first retail store in Bangalore by mid-2015. - CLAR IN: Co. has received approval from UK health regulator - MHRA for its newly commissioned plant in Ahmedabad. bit.ly/YGCR9n
Posted on: Fri, 22 Aug 2014 03:37:30 +0000
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