Status of SGX nifty indicate a flat opening of our markets. Let us keep our fingers crossed for sensex to cross 30000 mark.
Nifty may hesitate to sustain over new high as many investors feared it is near over bought zone.
🎯 News & Impact 🎯
🎯 ONGC: Oil & gas explorer ONGC is planning to invest over $3 billion in the Farzad-Bnatural gas block in Iran, according to reports. The proposed investment will be driven through a consortium of state-run oil companies led by its overseas arm ONGC Videsh (OVL). The statement comes amidst media reports that government is threatening to massively reduce crude intake from Iran as Tehran delays clearing the investment plan in the block. 👍
🎯 Shankara Building:
Shares of the recently concluded Rs. 350-crore initial public offer (IPO) of Shankara Building Products are going to list on bourses on Wednesday, April 5.
🎯 TVS Motor:
Chennai-based company on Monday post market hours reported a 10.24 per cent increase in total sales at 2,56,341 units in March this year. The company had sold 2,32,517 units in the same month last year, TVS Motor Co said in a statement. 👍
🎯 ICICI Bank and Axis Bank:
ICICI Bank and Axisbank sold Rs 1,800 crore of loans to paper maker Ballarpur Industries to Edelweiss Asset Reconstruction Company, said two people familiar with the matter. Bankers said this is possibly the first instance of a potential bad loan being sold off. 👍
🎯 Unitech:
Realty developer Unitech on Monday said the managing directors of the company, Sanjay and Ajay Chandra, have committed no fraud with any investor and the delay in project delivery is due to reasons beyond the control of the company and recession.
🎯 Adani Ports:
Adani Ports and Special Economic Zone Ltd (APSEZ) Monday said it will begin a feasibility study on building a green field container port mainly at Carey Island, Malaysia. The port, to be located about 50 kms southwest of capital Kuala Lumpur, would be an extension of the existing Port Klang.
🎯 Coal India:
Co. hopes that with national electricity generation rising by 4.7 % and prediction of early summer there would be higher coal demand.
🎯 Titan:
Consumer sentiment as well as demand scenario have recovered “quite significantly” in the January-March quarter, says Tata group firm Titan. The company has witnessed sales traction during the period across all divisions, including jewellery, watches and eyewear, and is expecting a good year ahead. 👎🏻
🎯 Dr Reddy's Laboratories:
Drug firm Dr Reddy on Tuesday said the US health regulator has issued two observations after inspection of its manufacturing plant at Srikakulam. 👎🏻
🎯 Sobha Ltd:
Realty firm Sobha on Tuesday reported 6.21 per cent fall in its sales bookings last fiscal at Rs 2,012.40 crore due to slowdown in property market. 👎🏻
🎯 Cyient:
The company on Tuesday announced that it is collaborating with Amdocs to implement GE’s Geographical System (GIS), Smallworld, as part of the Next-Generation Business/Operations Support System (NGBOSS) project for NetLink Trust.
🎯 Hero MotoCorp:
Country's largest two-wheeler maker on Monday reported a marginal increase in sales at 6,09,951 units in March. The company had sold 6,06,542 units in March 2016, Hero MotoCorp said in a statement.
🎯 Reliance Capital:
The company on Monday informed bourses that a meeting of the Board of Directors of the company will be held on Friday to consider and approve raising of limits for issue of non-convertible debentures on private placement basis.
🎯 Marico:
FMCG firm Marico expects to grow in double digits for the next 4-5 years and is keeping options open for acquisitions in India and overseas markets to realise its ambitions. 👍
🎯 Bajaj Finance:
The company has slashed the minimum investment criteria by more than two thirds to Rs.25,000 from Rs.75,000 to position itself as mass market player.
Edited by Sharp
© Sharp Investment & Financial Advisers
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