Friday, February 28, 2014

DAILY EQUITY REPORT 3 rd march 2014



INDIAN FACE 


INDIAN EQUITY BENCHMARK gained for the fifth straight
session to end at five-week highs led by TCS, Tata Motors and
pharma shares. The government will announce GDP figures for
the December 2013 quarter later today.

Further, Dr. Reddy’s Laboratories ended up 2.4%, extending its
previous day’s 2% gain, after the company said it has launched
Sumatriptan Injection USP in the US.

The government has approved 10 % stake sale in Indian Oil
Corporation to state run ONGC and OIL at a discount of 10 %,
which will fetch about Rs 5,300 crore to the exchequer.


GLOBAL FACE

Asian stock markets were lower with the Nikkei also down in
thin trading despite robust economic data coming from Japan.

European stocks mixed to higher as investors were eyeing the
release of highly anticipated euro zone inflation data later in the
trading session.

U.S. stocks markets climbed higher after Federal Reserve Chair
Janet Yellen suggested harsh winter weather may have been the
reason behind a string of disappointing economic indicators
this year.

MARKET TALKS 

Arvind gains on JV with a Japanese 
firm 

Arvind rose 0.97% to Rs 155.85 after the company announced a
joint venture with Goodhill Corporation of Japan by setting up a
Greenfield suits manufacturing facility based out of
Bommansandra Industrial estate in Bengaluru. Arvind's
consolidated net profit surged 35.6% to Rs 102.17 crore on 28%
growth in net sales to Rs 1792.20 crore in Q3 December 2013

over Q3 December 2012.

Jubilant Life up 8% on resolution to 
USFDA warning letter 

Investors are lapping up shares of Jubilant Life Sciences after the 
company announced successful resolution to USFDA warning 
letter for Canada's Montreal facility. The stock gained as much as 
8 percent. This resolves all issues raised by the FDA on the facility 
in February 2013 and subsequent communications. 

Bharti Airtel slips after Nigeria fines 
for poor service 
 
 Bharti Airtel fell 0.19% after Nigeria's telecoms regulator fined the company. The penalties were imposed because the operators 
had failed to meet key performance indicators and poor quality of 
service for the month of January 2014, 

Titan drops on profit booking
 
 Titan Company lost 1.26%, with the stock sliding on profit booking 
after recent rally after the firm said it has entered into a joint 
venture agreement with a Netherlands firm viz. Montblanc 
Services B.V. Titan Company's net profit fell 18.8% to Rs 165.57 
crore on 11.1% decline in net sales to Rs 2650.46 crore in Q3 
December 2013 over Q3 December 2012. 

RIL concerned about D6 gas price 
block 
 
 Reliance Industries is fearing that it may be compelled to shut 
down production from KG-D6 block in the absence of an 
agreement on the price of gas. RIL may sign sales agreements 
with consumers three weeks before the new price comes into 
effect. The existing gas sales and supply agreements expire on 
March 31. 






TOP FIVE BUZZING STOCKS



HINDALCO
TREND: BULLISH
SUPPORT: 97
RESISTANCE: 111


ASTRANZENECA
TREND: BULLISH
SUPPORT: 783
RESISTANCE: 1076


MARUTI
TREND: BEARISH
SUPPORT: 1540
RESISTANCE: 1733


HEXAWARE
TREND: BEARISH
SUPPORT: 142
RESISTANCE: 167


BIOCON
TREND: BULLISH
SUPPORT: 424
RESISTANCE: 497


TOP CORPORATE NEWS-28 FEB

TOP CORPORATE NEWS

Arvind gains on JV with a Japanese firm
                                                                                        
Arvind rose 0.97% after the company announced a joint venture with Goodhill Corporation of Japan by setting up a Greenfield suits manufacturing facility based out of Bommansandra Industrial estate in Bengaluru.

·        Bharti Airtel slips after Nigeria fines for poor service

Bharti Airtel fell 0.19% after Nigeria's telecoms regulator fined the company. The penalties were imposed because the operators had failed to meet key performance indicators and poor quality of service for the month of January 2014.

·        RIL concerned about D6 gas price block

Reliance Industries is fearing that it may be compelled to shut down production from KG-D6 block in the absence of an agreement on the price of gas. RIL may sign sales agreements with consumers three weeks before the new price comes into effect.

·        Titan drops on profit booking


Titan Company lost 1.26%, with the stock sliding on profit booking after recent rally after the firm has entered into a joint venture agreement with a Netherlands firm. 

INDIAN EQUITY MARKET WRAP UP-28 Feb 2014

INDIAN BENCHMARKS end at five-week highs ahead of Q3 GDP data

INDIAN BENCHMARKS gained for the fifth straight session to end at five-week highs led by TCS, Tata Motors and pharma shares. The government will announce GDP figures for the December 2013 quarter later today.

Further, Bharti Airtel recovered from the day's lows to end down 0.2% that Nigeria's telecom regulator has fined mobile operators MTN , Airtel and Globacom a combined 647.5 million naira and banned them from selling SIM cards in March due to poor service. Maruti Suzuki India ended down 4.5% after the company clarified regarding its board's decision on the proposed Gujarat project.
  

The crucial resistance for Nifty is now seen at 6300 and above this 6350. Support for the immediate term is now placed at 6100 and next support will be 6040.

Thursday, February 27, 2014

INDIAN EQUITY MARKET OUTLOOK-28 FEB

INDIAN BENCHMARK have started the trading session on a higher note with Sensex and Nifty gaining by nearly 0.5% each. The government will unveil data on gross domestic product (GDP) for Q3 December 2013 after trading hours today.


FURTHER, Tech Mahindra said it has signed an agreement to acquire the IT and consultancy services business of chemical giant BASF in a bid to strengthen its presence in Western Europe. Reliance Industries is fearing that it may be compelled to shut down production from KG-D6 block in the absence of an agreement on the price of gas.



Trend in FII flows: The FIIs were net buyers of Rs.511cr in the cash segment on Wednesday while the domestic institutional investors (DIIs) were net sellers of Rs. 251cr, as per the provisional figures released by the NSE.

DAILY EQUITY REPORT 28 TH FEBRUARY 2014

INDIAN FACE


INDIAN EQUITY BENCHMARK increased for the fourth
consecutive day amidst volatile trading and expiry of the
February Futures & Options (F&O) derivative contracts. Gains
of 2% in index heavyweight ITC also contributed towards the
rise.

Further, State Bank of India increased by 1% to Rs 1,522 after
the country’s largest public sector lender said that its board
schedule to meet next week to consider interim dividend to
shareholders of the company.

Tata Steel and Sesa Sterlite extended yesterday's fall to decline
by 3.2% and 2.4% respectively, as metal companies continued
their struggle after a weak global outlook for the industry. They
were the worst performer in the Sensex.

GLOBAL FACE

Asian stock markets were swung between small gains and
losses in choppy trade, as growing concerns over the global
economic recovery dampened sentiment.

European stocks slid on a disappointing consumer confidence
report, though healthy corporate earnings cushioned losses.

U.S. stocks markets remained lower, despite the release of
positive German economic growth data as investors remained
cautious amid uncertainty over the European Central Bank's
next policy moves.

MARKET TALKS 

Tata Power extends Tuesday's slide 
 
Tata Power Company lost 1.48% with the stock extending recent 
fall triggered by equity dilution worries after the firm said its board 
of directors will meet on 27 February 2014 to consider various fund 
raising options. TPREL was selected as the preferred bidder in a 
process conducted by AES Corporation for sale of its 100% stake 
in ASW in September 2013 

Arvind Remedies inches up after 
commencement of commercial 
operations at a unit 
 
Arvind Remedies rose 0.82% after the company said that on 20 
February 2014 the commercial operation of the new unit of the 
company at Kakkalur, Tiruvellore, Tamil Nadu for few products has 
been started. Arvind Remedies' net profit jumped 52.4% to Rs 
18.61 crore on 29.5% growth in net sales to Rs 233.04 crore in Q3 
December 2013 over Q3 December 2012. 

ICICI Bank launches Branch on 
Wheels in Odisha 
 
 ICICI Bank Limited, India’s largest private sector bank, announced 
 the launch of ‘Branch on Wheels’ in Odisha, as part of its financial 
 inclusion plan that aims at providing banking services in villages 
 which are so far devoid of banking facilities. 


Lupin receives FDA approval for 
generic Mycobutin capsules 
 
Lupin Ltd (Lupin) announced that it has received final approval for 
its Rifabutin Capsules USP, 150 mg from the United States Food 
and Drugs Administration to market a generic version of Pharmacia 
and Upjohn Company’s Mycobutin Capsules 150 mg. Lupin 
Pharmaceuticals Inc., the company’s US subsidiary would 
commence marketing the product shortly. 

Dr Reddy's at new high, launches 
headache drug Sumatriptan 
 
Shares of Dr Reddy’s Labs hit a record high at Rs 2823, up around 
2 percent in early trade. Investors are excited about the company 
as it launched Sumatriptan injection USP in the US market. It is a 
therapeutic equivalent generic version of Imitrex Statdose Pen and 
was launched in the US market on February 25 following approval 
by the United States Food & Drug Administration




Wednesday, February 26, 2014

TOP FIVE BUZZING STOCKS


ARVIND
TREND: BULLISH
SUPPORT: 141
RESISTANCE: 156


BPCL
TREND: BULLISH
SUPPORT: 365
RESISTANCE: 390


TATA STEEL
TREND: BEARISH
SUPPORT: 336
RESISTANCE: 372


VOLTAS
TREND: BULLISH
SUPPORT: 120
RESISTANCE: 136


SSLT
TREND: BEARISH
SUPPORT: 172
RESISTANCE: 185


TOP CORPORATE NEWS-26 FEB


TOP CORPORATE NEWS

·         Tata Power extends Tuesday's slide
                                                                                        
Tata Power Company lost 1.48% with the stock extending recent fall triggered by equity dilution worries after the firm said its board of directors will meet on 27 February 2014 to consider various fund raising options.

·         Lupin receives FDA approval for generic Mycobutin capsules

Lupin Ltd announced that it has received final approval for its Rifabutin Capsules USP, 150 mg from the United States Food and Drugs Administration to market a generic version of Pharmacia and Upjohn Company’s Mycobutin Capsules 150 mg.

·         Arvind Remedies inches up after commencement of commercial operations at a unit

Arvind Remedies rose 0.82% after the company said that on 20 February 2014 the commercial operation of the new unit of the company at Kakkalur, Tiruvellore, Tamil Nadu for few products has been started.

·        Dr Reddy's at new high, launches headache drug Sumatriptan              


Dr Reddy’s Laboratories gained nearly 2% at Rs 2,823, after touching a record high of 2,845 earlier in the day, after the company said it has launched Sumatriptan Injection USP in the US.

INDIAN EQUITY MARKET WRAP UP-26 Feb 2014

INDIAN BENCHMARKS ends at one-month high on February F&O expiry.


INDIAN BENCHMARKS increased for the fourth consecutive day amidst volatile trading and expiry of the February Futures & Options derivative contracts. Gains of 2% in index heavyweight ITC also contributed towards the rise.


Further, State Bank of India increased by 1% to Rs 1,522 after its board schedule to meet next week to consider interim dividend to shareholders of the company. Dr Reddy’s Laboratories gained nearly 2% after touching a record high of 2,845 earlier in the day, after the company said it has launched Sumatriptan Injection USP in the US.



The crucial resistance for Nifty is now seen at 6300 and above this 6350. Support for the immediate term is now placed at 6100 and next support will be 6040.

Tuesday, February 25, 2014

INDIAN EQUITY MARKET OUTLOOK-26 FEB

INDIAN BENCHMARK see a volatile day ahead as investors will remain cautious on account of February month derivative expiry today. The board of state-owned Oil India Ltd (OIL) has approved the acquisition of a 5 per cent stake in Indian Oil Corp (IOC) from the government at a discount to the market price.


FURTHER, Wipro is keen to repeat the success of its Citibank captive acquisition, as the company accelerates efforts to close the gap between itself and rivals Tata Consultancy Services and Infosys in winning financial clients. CESC Ltd has sought a sharp hike of 18% in average tariff to Rs7.55 a unit from the regulator for the financial year 2014-15.



Trend in FII flows: The FIIs were net buyers of Rs.423cr in the cash segment on Tuesday while the domestic institutional investors (DIIs) were net sellers of Rs. 289cr, as per the provisional figures released by the NSE.

TOP FIVE BUZZING STOCKS -26 FEB


AUROBINDO PHARMA
TREND: BULLISH
SUPPORT: 480
RESISTANCE: 540


BPCL
TREND: BULLISH
SUPPORT: 346
RESISTANCE: 382


TATA STEEL
TREND: BEARISH
SUPPORT: 356
RESISTANCE: 382


RANBAXY
TREND: BULLISH
SUPPORT: 341
RESISTANCE: 376


DISH TV
TREND: BEARISH
SUPPORT: 47
RESISTANCE: 50


TOP CORPORATE NEWS-25 FEB


TOP CORPORATE NEWS

·        Ranbaxy Laboratories stock up 2%
                                                                                        
Shares of Ranbaxy Laboratories were up 2% at Rs369 it has suspended shipments of pharmaceutical ingredients produced at its Toansa and Dewas plants.

·        IOC plans to buy stakes in Petronas' LNG project

Indian Oil Corp is planning to buy Malaysian firm Petronas' 10% stake in a shale-gas assets and liquefied- natural-gas project in British Columbia for $900 mn.

·        Tech Mahindra signs agreement with Sierra Wireless

Tech Mahindra Ltd. and Sierra Wireless announced that they have signed a formal teaming agreement to work collaboratively to develop and deploy end-to-end M2M solutions for customers worldwide.

·        Cadila Healthcare hits record high on USFDA nod for Clonidine Hcl injection       

Cadila Healthcare trading higher by 2% extending its yesterday’s nearly 5% rally after the company said it has received the final approval from the US FDA to market Clonidine Hcl Injection 0.1 and 0.5 mg/ml, 10 ml.


INDIAN EQUITY MARKET WRAP UP-25 Feb 2014

INDIAN BENCHMARKS ends higher ahead of February derivative expiry

 INDIAN BENCHMARKS ended a volatile session of trade in the positive territory ahead of February derivative contracts expiry tomorrow. This was the third consecutive session of gains. Cadila Healthcare is trading higher by 2% extending its yesterday’s nearly 5% rally, after the company said it has received the final approval from the US FDA to market Clonidine Hcl Injection 0.1 and 0.5 mg/ml, 10 ml.

Further, Shares of Ranbaxy Laboratories was up 2% at Rs369 it has suspended shipments of pharmaceutical ingredients produced at its Toansa and Dewas plants. Indian Oil Corp is reportedly planning to buy Malaysian firm Petronas' 10% stake in a shale-gas assets and liquefied- natural-gas project in British Columbia for $900 mn.

The crucial resistance for Nifty is now seen at 6300 and above this 6350. Support for the immediate term is now placed at 6100 and next support will be 6040.

Monday, February 24, 2014

INDIAN EQUITY MARKET OUTLOOK-25 FEB


INDIAN BENCHMARK upbeat to begin with. Tata Power's board will deliberate on various fund raising options, including by way of preferential issue of shares to institutional investors, on February 27.


FURTHER, Ranbaxy Labs will be in focus after Japanese drugmaker Daiichi Sankyo Co Ltd said that its Indian unit Ranbaxy Laboratories Ltd has suspended shipment of pharmaceutical ingredients produced at its Toansa and Dewas plants. JP Associates may be in action on reports of stake sale of cement plants.



Trend in FII flows: The FIIs were net buyers of Rs.266cr in the cash segment on Monday while the domestic institutional investors (DIIs) were net sellers of Rs. 248cr, as per the provisional figures released by the NSE.

TOP FIVE BUZZING STOCKS -25 FEB


AXIS BANK
TREND: BULLISH
SUPPORT: 1146
RESISTANCE: 1270


VOLTAS
TREND: BULLISH
SUPPORT: 120
RESISTANCE: 135


BHARTI AIRTEL
TREND: BEARISH
SUPPORT: 279
RESISTANCE: 298


NTPC
TREND: BEARISH
SUPPORT: 113
RESISTANCE: 134


LARSEN & TURBO
TREND: BULLISH
SUPPORT: 1035
RESISTANCE: 1106


TOP CORPORATE NEWS-24 FEB

TOP CORPORATE NEWS

·        NTPC tanks 11%, hits 7.7-year low on CERC norms
                                                                                        
NTPC tanked 11.5 percent, hitting 7.7-year low as the Central Electricity Regulatory Commission final regulations for FY15-19 provides no respite to the company. The norms will fix tariffs for the power sector for the next five years. Tightening of norms for NTPC will erode most of the incentives, the state-run power producer enjoyed.

·        Reliance Power gains after favorable order from CERC

Reliance Power rose 1.03% to Rs 63.75 after the company received favorable order from the electricity regulator in connection with the petition filed by Sasan Power, the company's wholly owned subsidiary.

·        SKS Micro up 4% as co completes Rs 158 cr securitization

Investors are lapping up shares of SKS Microfinance after the company announced the seventh substantial microfinance securitisation during the current financial year of Rs 158.27 crore.

·        IDFC drops amid volatility as RBI bans fresh FII investment
                                                    

IDFC lost 1% to Rs 94.20 after the Reserve Bank of India after trading hours said that no further purchases of shares of the company will be allowed on behalf of foreign institutional investors. 

INDIAN EQUITY MARKET WRAP UP-24 Feb 2014


INDIAN BENCHMARKS end at 1-month closing high

INDIAN BENCHMARKS rose for a second straight session to their highest closing in a month as blue chips including banks gained on continued optimism about foreign investor buying despite rising global uncertainties.

Further, L&T ended higher by nearly 3% after the company said it has received Foreign Investment Promotion Board approval for foreign direct investment in L&T Infrastructure Development Projects Limited. IDFC lost 1% after the Reserve Bank of India after trading hours said that no further purchases of shares of the company will be allowed on behalf of foreign institutional investors.

The crucial resistance for Nifty is now seen at 6230 and above this 6350. Support for the immediate term is now placed at 6065 and next support will be 5990.

Sunday, February 23, 2014

INDIAN EQUITY MARKET OUTLOOK-24 FEB

INDIAN BENCHMARK have negative start and may weaken further as the day progress given the negative vibes from the global equity markets. Investor attention on the F&O expiry which happens on Wednesday and on macro economic data including the fiscal deficit data.


FURTHER, United Bank of India, stricken by bad debt, may be bracing for worse as the state-owned lender is looking into the possibility of Rs8bn having been disbursed at one of its branches in New Delhi without making sure of collateral. NTPC will set up a 1,320 MW power project in Bihar entailing an investment of Rs92bn. In this regard, a Memorandum of Understanding was inked between NTPC, Bihar State Power Generation Company Ltd and Lakhisarai Bijlee Company Private Ltd.



Trend in FII flows: The FIIs were net buyers of Rs.603cr in the cash segment on Friday while the domestic institutional investors (DIIs) were net sellers of Rs. 381cr, as per the provisional figures released by the NSE.

Friday, February 21, 2014

TOP FIVE BUZZING STOCKS


BHARTI AIRTEL
TREND: BEARISH
SUPPORT: 280
RESISTANCE: 304


AXIS BANK
TREND: BULLISH
SUPPORT: 1146
RESISTANCE: 1228


HCL TECH
TREND: BULLISH
SUPPORT: 1467
RESISTANCE: 1567


MCLEOD RUSSEL
TREND: BULLISH
SUPPORT: 262
RESISTANCE: 291


UPL LTD
TREND: BEARISH
SUPPORT: 173
RESISTANCE: 189


TOP ROCKING PERFORMANCE OF THE DAY-21 FEB


CS CALL: BUY HCL TECH FUTURE ABOVE 1522 TGT 1528, 1536, 1546 SL 1507,
TARGET ACHIEVED: 3


CS CALL: BUY AXIS BANK FUTURE ABOVE 1175 TGT 1181, 1189, 1199 SL 1160,
TARGET ACHIEVED: 3


CS CALL: BUY ARVIND LTD FUTURE ABOVE 148.20 TGT 148.60, 149.10, 149.70 SL 147.20
TARGET ACHIEVED: 2


CS CALL: BUY MCLEOD RUSSEL ABOVE 275 TGT 276.50,278.50,281 SL 272
TARGET ACHIEVED: 3


CS CALL: SELL BHARTI AIRTEL BELOW 293 TG 291.50,289.50,286.50 SL 296
TARGET ACHIEVED: 3


TOP CORPORATE NEWS-21 FEB

TOP CORPORATE NEWS

·        United Bank of India slips after CMD Archana Bhargava quits
                                                                                        
United Bank of India fell 1.03% after Archana Bhargava resigned as chairperson and managing director of the bank with effect from 20 February 2014. United Bank of India has been under pressure after reports on non-performing assets mismanagement surfaced earlier in this week.

·        HCL Tech gains on buzz Shiv Nadar to sell entire stake

HCL Technologies rose 1.06% on reports that the company's promoter Shiv Nadar is sounding out potential buyers for selling his entire 62% stake in the company.

·        Elder pharma Expect Rs 600-700cr sales from overseas biz   
       
Elder Pharma is planning to come out with series of new products especially line of in-license products and brand extension. The company has appointed Deloitte for organisational restructuring post its sale of formulation business to Torrent Pharma.

·        ICICI Bank launches municipal tax collection service in Nashik
                                                    

ICICI Bank has announced the launch of a service to collect municipal tax on behalf of Nashik Municipal Corporation (NMC). This unique service will help citizens with accounts in any bank to pay municipal taxes at any of the 14 ICICI Bank branches in Nashik. 

INDIAN EQUITY MARKET WRAP UP-21 Feb 2014


INDIAN BENCHMARKS re-conquers,Cap goods, Banks lead


INDIAN BENCHMARKS recouped most of yesterday's losses to end higher helped by a rebound in bank shares while encouraging data from the US boosted sentiment for IT shares.


Further, Bharti Airtel lost a court case in Nigeria and potentially faces US$3bn in payouts over a 5% stake claimed by Econet Wireless in its Nigerian unit. Wipro has collaborated with Agnik, a cloud-based vehicle performance Big Data analytics software company, to offer advanced connected car information technology services and platforms for the automotive industry.



The crucial resistance for Nifty is now seen at 6190 and above this 6250. Support for the immediate term is now placed at 6065and next support will be 5990.

Thursday, February 20, 2014

INDIAN EQUITY MARKET OUTLOOK-21 FEB


INDIAN BENCHMARK rebounded tracking their Asian peers and overnight gains on Wall Street with banks and IT majors lifting the Nifty above 6,100 levels in early trades. Power Finance Corp and Rural Electrification Corp have disbursed transitional loans worth Rs337bn to state-owned power distribution companies.


FURTHER, Jindal Steel and Power Ltd announced the launch of its new retail brand Jindal Panther TMT rebars, signifying the company’s foray into the retail product segment. Bharti Airtel will move the Supreme Court of Nigeria against a judgement, dated 14 February, of the Court of Appeal, Lagos that ruled in favour of Econet Wireless of Nigeria.


Trend in FII flows: The FIIs were net buyers of Rs.206cr in the cash segment on Thursday while the domestic institutional investors (DIIs) were net sellers of Rs. 600cr, as per the provisional figures released by the NSE.


TOP FIVE BUZZING STOCKS -21 FEB


ADANIENT
TREND: BULLISH
SUPPORT: 228
RESISTANCE: 262


JP ASSOCIATE
TREND: BULLISH
SUPPORT: 36
RESISTANCE: 43


ARVIND
TREND: BULLISH
SUPPORT: 136
RESISTANCE: 151


ASIAN PAINT
TREND: BEARISH
SUPPORT: 453
RESISTANCE: 477


BHARTI AIRTEL
TREND: BEARISH
SUPPORT: 280
RESISTANCE: 305


INDIAN EQUITY MARKET WRAP UP-20 Feb 2014


INDIAN BENCHMARKS snaps 4-day winning streak.


INDIAN BENCHMARKS snapped its four day winning streak and closed almost 1 percent lower led by a sell-off in heavyweight banking stocks. The investor sentiment went for a toss on cues emerging from world's biggest economies. Macro-economic data from China and minutes of the US Federal Reserve's last meeting caused the turmoil as stocks tumbled around the globe.


Further, Tata Sponge Iron has rallied 13% to Rs 424, extending its previous day’s 5% gain, on back of heavy trading volumes. A combined 2.55 million shares representing 16.6% of total equity of the company changed hands on the counter. Thomas Cook 's fourth quarter  consolidated net profit grew 52 percent to Rs 13.1 crore compared to same quarter last year on account of higher revenues.



The crucial resistance for Nifty is now seen at 6190 and above this 6250. Support for the immediate term is now placed at 6065 and next support will be 5990.

TOP CORPORATE NEWS-20 FEB

TOP CORPORATE NEWS

·        RIL plans to raise over $1 bn through export credit
                                                                                        
Reliance Industries is in talks with four or five export credit agencies to raise over $1 bn (Rs 6,220 crore) in the next four months. This move is a part of the company’s plan to raise $13 bn debt to fund expansion of its petrochemical production capacity and gasification project.

·        TCS gains after Diageo deal

TCS rose 0.45% after the company said that Diageo, the world's leading premium drinks business, has selected TCS as its new global IT provider.

·        Thomas Cook Q4 net profit up 52% to Rs 13.1 cr

Thomas Cook's fourth quarter (October-December) consolidated net profit grew 52 percent to Rs 13.1 crore compared to same quarter last year on account of higher revenues. Total income from operations jumped 4.8 times to Rs 465.6 crore from Rs 97.7 crore during the same period.

·        CCEA approves setting up of coal regulator
                                                    
The Cabinet Committee on Economic Affairs has approved the setting up of a coal regulator that was first tabled in December 2013. While there is no clarity on the timeline of when this execution order will be released, but since the cabinet has approved the setting up, it will happen in the next couple of weeks because the general election announcements should be out any moment now.


Nifty above 11,550 mark; Bank Nifty hits 30K

The Bank Nifty is trading higher at 29,975.85 levels and hit 30,000 mark. Shares of HDFC Bank extended gains for the fifth consecutive sess...