Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day
- U.S. stocks were mixed after the close , as gains in the Telecoms, Oil & Gas and Consumer Services sectors led shares higher while losses in the Technology, Healthcare and Basic Materials sectors led shares lower.
- Asian shares mostly fell and as investors looked ahead to more corporate earnings due during the session and were cautious on the dollar.
- Market is expected open on negative note and likely to witness range bound trading session during the day.
- Last series Nifty saw 10000 mark and saw over 5% gain in last 1 month. In last 1 month we outperform majority of world markets driven by better than expected corporate results, subside of GST disruption, good monsoon and liquidity. We feel, in coming series, market is likely to see some profit booking post good run up in last series. We feel market is likely to remain in range of 9750 to 10100.
- Claris Life completes sales of its global generic injectables business to Baxter
- Nava Bharat Ventures’ 300 MW Power Plant of Maamba Collieries has achieved Provisional acceptance under the EPC contract
- NCLT approves scheme of arrangement between Videocon D2H & Dish TV
- Exide looks to start making batteries for electric vehicles
- Vedanta has initiated talks with South India-based Deccan Gold Mines to acquire a controlling stake in the company as it seeks to get a bigger foothold in the new segment of precious metal mining in the country.
- ONGC confirms government slapping it, RIL with $3.9 billion (about Rs 25,487 crore) demand in dues following an arbitration award in its favour. The demand notice pertains to interpretation of the contract for the Panna-Mukta and Tapti (PMT) oil and gas fields in the Arabian Sea.
- Dr Reddy's enters licensing pact with CHD Bioscience to develop and commercialise latter's antibiotic gel. Under the terms of the agreement, DRL would receive equity in CHD valued at USD 30 million upon an IPO of CHD or a minimum of USD 30 million in cash of execution of the agreement
- Wilmar International is likely to increase its stake by over 20% in Shree Renuka Sugars.