Flat Start For Sensex, Nifty

Flat start for Sensex, Nifty

22 Aug 2016 08:21 AM

The Indian stock market remained in consolidation mood for fourth successive week and ended almost unchanged in the end. The indices are set to open on a flat note. Asian markets are trading mixed. In Japan, the Nikkei 225 is trading in green, while and Hong Kong's Hang Seng and Shanghai Composite are trading lower by 0.56%.

US stocks closed lower on Friday.The Dow Jones industrial average closed 0.24% lower, at 18,552.57 points. The S&P 500 fell 0.14%, to close at 2,183.87 points, while the Nasdaq fell 0.03%, to end at 5,238.38 points.

Some of important earning announcements are scheduled  HPCL, NTPC, Tata Power are prominent name from the list of corporates, who will announce their numbers.

Urjit Patel has been named as the 24th governor of the Reserve Bank of India. Patel will take over from Raghuram Rajan when the latter leaves office after his term ends on 4 September

Trai announced new rules that would allow telecom companies to offer data packs with validity of 365 days. The earlier regulations allowed telecom companies to offer data packs with a maximum validity of 90 days.

India's foreign exchange reserves jumped the third consecutive week,  foreign exchange reserves increased by $73.2 million to $365.822 billion in the week ended August 12, the Reserve Bank of India said.

Among other stocks in focus:

HCL Tech: CCI has cleared IT company HCL Technologies’s equity swap deal to buy the business of Geometric. The deal excludes Geometric’s 58% stake in 3DPLM Software Solutions Ltd, a joint venture with Dassault Systems.

Sun Pharma: Sun Pharma sees the remediation process at erstwhile Ranbaxy facilities as a “time consuming ” process even as it aims to bring at least one of the plants to conform to current good manufacturing practice regulations in the current fiscal.

Gail (India) Ltd: Gail will tie up with California-based closely-held firm Bloom Energy Corp. on Monday to pursue natural gas-based fuel cell power generation, a new technology.

Mahindra & Mahindra: M&M said to have begun working on what is being pegged as the most affordable electric SUV in the world through its Mahindra Electric unit, formerly known as Mahindra Reva.

Thomas Cook: Thomas Cook Lanka Pvt. Ltd. has entered into a share purchase agreement for acquiring 24% stake in Sita World Travel Lanka.

NTPC: The company will announce its Q1 numbers today. The company has received bids amounting to Rs.1,250 crore for its taxable secured non-convertible debentures issue of Rs.500 crore.

Claris Lifesciences: Claris Lifesciences reported a 14.3% increase in its consolidated net profit at Rs.22 crore for the first quarter ended June 2016.

United Bank of India: The government will infuse Rs.608 crore in United Bank of India soon subscribing to the bank's shares at Rs 22.73 including Rs.12.73 premium per share.

Fortis Healthcare: The company said its board has approved demerger of its diagnostics business into another group firm Fortis Malar Hospitals, a move aimed at ensuring independent growth of hospital as well as diagnostics business verticals.

Indian Oil Corporation: A Centre’s green panel has deferred its decision on granting environment clearance to state-run Indian Oil Corporation’s Rs.593 crore Styrene and Ethylene project at Panipat in Haryana, for want of more information, as per media reports.

IL&FS  Engineering and Construction  Company: IL&FS Engineering and Unitech Power Transmission Ltd JV has received a Letter of Award from Power Grid Corporation of India Limited in Gujarat.

L&T: Piramal Realty has awarded Rs.700 crore contract to L&T Group for construction of its housing project in Mumbai.

Tata Power: Tata Power's 50:50 joint venture with Exxaro Resources in South Africa, Cennergi (Pty) announced commencement of commercial operations for its 95 MW Tsitsikamma Community wind farm project.

Indiabulls Housing Finance: The company is planning to raise Rs.700 crore by issuing non-convertible debentures (NCDs) on a private placement basis.

NIIT: Minister for Education and Skills, Ireland, Richard Bruton TD inaugurated the European delivery centre of NIIT Limited in Dublin, Ireland today. NIIT is a global company headquartered in India which provides multi-disciplinary learning management and training delivery solutions to corporations, institutions, and individuals in over 40 countries.

Oberoi Realty Ltd: The company has posted a net profit of Rs. 928.10 million for the quarter ended June 30, 2016 as compared to Rs. 1331.70 million for the quarter ended June 30, 2015.

Power Grid: The company said its board has approved three investment proposals worth Rs.733.32 crore for power transmission related projects. 

Commercial Syn Bags: The Board of Directors of Commercial Syn Bags has approved the Expansion plan of Company's SEZ Unit situated at Indore Special Economic Zone, Plot No. 15 to 18, Phase-1, Sector-III, Pithampur (MP); by setting up of complete manufacturing facilities by installation of Tape Line and Looms with clean room facilities for manufacturing of food grade jumbo bags.

Surya Roshni Ltd: The company has obtained order through competitive e-bidding for Design, Manufacture, Supply, of LED Tube Lights and other related works from Public Sector Undertakinkg (PSUs).

Allcargo Logistics: The company will announce its Q1 numbers.

Corporation Bank: The bank seeks members' nod to issue equity shares on preferential basis to the government of India to the tune of Rs.508 crore.

Results: NTPC, HPCL, Hindustan Copper, Allcargo Logistics,Jindal Photo, Himachal Futuristic Communications, Jindal Poly Investment and Finance Company, Shree Renuka Sugars, SPML Infra

Global Data: CNY MNI Business Sentiment Indicator (Aug), JPY Nikkei Manufacturing PMI (Aug)PRELIMINAR, JPY Bank of Japan Governor Kuroda Speech SPEECH,  CHF Imports (MoM) (Jul),CHF Exports (MoM) (Jul), CHF Trade Balance (Jul), EUR Markit Manufacturing PMI (Aug)PRELIMINAR, EUR Markit PMI Composite (Aug)PRELIMINAR, EUR Markit Services PMI (Aug) PRELIMINAR, EUR Markit PMI Composite (Aug)PRELIMINAR, EUR Markit Services PMI (Aug)PRELIMINAR, EUR Markit Manufacturing PMI (Aug)PRELIMINAR, EUR Markit Manufacturing PMI (Aug)PRELIMINAR, EUR Markit Services PMI (Aug)PRELIMINAR, EUR Markit PMI Composite (Aug)PRELIMINAR, GBP CBI Industrial Trends Survey - Orders (MoM) (Aug) ,USD Redbook index (YoY) (Aug 19), USD Redbook index (MoM) (Aug 19), CNY CB Leading Economic Index (Jul), USD Markit Manufacturing PMI (Aug)PRELIMINAR, USD New Home Sales (MoM) (Jul), USD New Home Sales Change (MoM) (Jul), USD Richmond Fed Manufacturing Index (Aug), EUR Consumer Confidence (Aug)PRELIMINAR,  USD 4-Week Bill Auction,  USD 2-Year Note Auction, USD API Weekly Crude Oil Stock,  NZD Trade Balance (MoM) (Jul),  NZD Exports (Jul), NZD Trade Balance (YoY) (Jul).