Vachana Investments Market Focus for the day 04/07/2014 Global markets at record high as good jobs report in the US and continued dovishness from the European Central Bank. The US as markets are shut today for Independence Day. Indian Service PMI at 54.4 points in June from 50.2 points in the previous month. Before May, the services PMI had been stuck below 50, which divides growth from contraction. Stocks to Watch: Prestige Estates Projects bought an eight-acre land parcel in a prime Bangalore location for Rs.345 crore from engineering company Siemens. Glenmark Pharmaceuticals stated that its new molecule for potential treatment of autoimmune diseases is entering human trials. Shree Renuka Sugar to be in focus as the company’s open offer failed. The company was able to acquire only 1,750 shares out of over 24 crore shares due to higher share price compared with the offer rate Cairn India signed up Halliburton Company, a US multinational, for a Rs 1,200-crore contract to drill 100 wells at the Rajasthan onland block RJ-ON-90/1 over the next 18 months. Hindalco is likely to remain in focus after Morgan Stanley under-rated the stock. Regards, Santhosh Kumar V Senior Research Analyst Vachana Investments Pvt Ltd. vachanainvestments 9535628295/9663258258/9972257225/9845620530. Do LIKE us on Fan page to get LIVE market updates instantly. facebook/RudramurthyCA
Posted on: Fri, 04 Jul 2014 03:32:04 +0000
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