Outlook: - Nifty continued its winning streak, though the momentum seems waning off. - Globally markets are in tepid mood, which may have its rub-off on local sentiments as well. - We believe markets would see a consolidation phase, though we are still upbeat on metal pack. News: - WPRO IN: US SEC has launched a private investigation against Wipro to ascertain independence of its auditor, KPMG India and appropriateness of certain accounting entries pertaining to exchange rate fluctuation and outstanding liability accounts. Investigation is part of an enquiry that has been going on since 2010. - SUNP IN: US FDA has warned Sun Pharmaceutical that the responses given on the Karkhadi plant import alert lacked sufficient corrective actions. - CAIR IN: Cairn India is unlikely get more than 5-years extension for its Barmer block, with the DGH rejecting its proposal for a 10-year contract extension up to 2030. - HCLT IN: HCL Technologies has bagged a 7-year deal estimated to be around $500 mn from beverage giant PepsiCo for offering infrastructure management services (IMS). - Odisha government has cleared 5 of the 26 iron ore mines up for mining lease renewal. The 26 mines were closed following directives from the Supreme Court. - SJET IN: Spicejet has informed that it is in advanced stages of a capital infusion discussion with an external entity that when completed will help clean up the arrears. bit.ly/1nmV42n
Posted on: Wed, 21 May 2014 03:42:51 +0000
Trending Topics
Recently Viewed Topics
© 2015