Market Outlook: - S&P upgrade in closing hours of last session helped markets bounce back from 7900 levels, although WOW Nifty lost ~2%. - But for HK (country specific), early Asia trades in tepid mood. - S&P upgrade would keep investors in humming mode, though a 3-day trading week could keep them a bay. - Focal point for upcoming week will be RBI policy (tomorrow) & Auto nos (1st Oct) along with oil cos. as we await continuance of monthly fuel price revisions. - HDFC Bank will be in vogue as FIPB meeting (1st Oct) is expected to take up bank’s proposal on hike in FII limit. News: - As per media reports, Govt. plans to cut number of subsidized cooking gas cylinders for households to 9 from 12 a year as it takes on mounting LPG subsidy. - RPWR IN: As per media reports, Coal ministry plans to cancel allocation of a coal block to Co. and ensure that surplus production from other 2-blocks attached to 4,000MW Sasan UMPP is not used for another project. - DLFU IN: Directorate General of Central Excise Intelligence (DGCEI) has filed case against Co. for alleged non -payment of service tax to tune of Rs. 300mn over transfer of development rights to other firms. - PARSV IN: Co has leased about 1.7 lac sq ft. of office space at Connaught Place, Delhi and expects annual rentals of around Rs. 1bn from it. - MTNL IN: The loss-making PSU will not be privatised; instead Govt will work for a turn-around of teleco. - NACL IN: Co is contemplating to move a review petition in apex court for reconsideration of decision to cancel allotment of coal block to the PSU. - ARCP IN: Co would sell its subsidiary - Greatway Estates for Rs 3.04bn and use the funds to part-repay debt & project development. bit.ly/1u5BlJV
Posted on: Mon, 29 Sep 2014 04:03:46 +0000