Stock Market News and Analysis:
Equity benchmark indices ended higher in an extremely volatile session. Nifty ended above 11,900 at 11944.30. All sector ended higher barring media and PSU bank.
Headlines for the day:
- Idea surged 5% after clarifying on report of possible shutdown.
- Jindal Steel & power commissioned 4th Coke Oven Battery at Angul Steel plant; stock up 2%.
- Dish TV share prices surge over 3% on merger reports of DTH ops of co. & Bharti Airte
- KNR Construction informed that it has got a work order for Rs240cr from Chief Engineer GHMC, Hyderabad, for comprehensive Road Maintenance Plan for maintenance of main road in Secunderabad Zone of GHMC under Comprehensive Road Maintenance Contract for 5 years..
- Adani Transmission informed that its subsidiary Adani Electricity Mumbai Limited and a subsidiary of Qatar Investment Authority - Qatar Holding LLC, have inked definitive agreements for the sale of 25.1% stake in AEML and for shareholder subordinated debt in AEML. .
- The Competition Commission of India stated that it has given approval to the subscription of Piramal Enterprises Ltd' compulsory convertible debentures by Canadian institutional investor, Caisse de dpt et placement du Qubec..
- Reliance Industries informed that The Abu Dhabi National Oil Company has signed a Framework Agreement with RIL to explore development of an Ethylene Dichloride facility in Ruwais..
- Board of Yes Bank is willing to favourably consider the offer of $500 million of Citax Holdings and Citax Investment Group. The binding offer of $1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussio. IDBI Bank informed that the board of Directors of IDBI Bank Ltd., at its meeting has given in-principle approval to divest/ dilute IDBI Bank's stake in its subsidiaries namely IDBI Capital Market Securities Limited and IDBI Intech Limited (IIL) to the extent of 49% to the prospective investors and retaining controlling stake with the Bank.
Calls for Tomorrow:
- CALL: BUY SIEMENS EQ ABOVE 1503.70 TARGETS 1518.75/1533.75/1548.85 SL 1488.65
- CALL: BUY HDFC EQ ABOVE 2335 TARGETS 2358.35/2381.70/2405.05 SL 2311.65