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Tuesday, August 5, 2014

INDIAN BENCHMARKS end higher…. RBI stays steady.

INDIAN EQUITY BENCHMARKS extended its upswing for the second consecutive day. The Reserve Bank of India, in its third bi-monthly monetary review for 2014-15 held today, kept the repo rate unchanged at 8%, while the reverse repo rate was remained stable at 7%.

Further, Shares in Tata Communications ended lower by 2.5% after company has posted a net loss of Rs. (213.80) mn for the quarter ended June 30, 2014.

Jubilant Life Sciences Limited has reported Consolidated revenue at Rs. 1,473 Crore, grew 8% YoY. International revenues at Rs. 1,051crore, contributed 71% to the overall mix.  EBITDA margins at 10.2% and PAT at 5 Crore.

The crucial resistance for Nifty is now seen at 7790 and above this 7840. Support for the immediate term is now placed at 7640 and next support will be 7595.

NEWS TO WATCH:
Watch out Quarterly Earnings of Adani Ports, Adani Power, Apollo Tyres, Amara Raja Batteries, Gujarat Gas, IDBI Bank, Jindal Steel on 6th August 2014.  

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