TOP CORPORATE NEWS

·        GMR Infra, JP Associates fall after launching QIP

Shares of GMR Infrastructure and Jaiprakash Associates have declined more than 4% each after both these companies announced launch of qualified institutional placement on July 2 to raise funds.

·        HDIL to divest 100% shareholding in HDIL Entertainment

Housing Development and Infrastructure Ltd has entered into definitive agreements with respect to transfer of its 100% shareholding of its wholly owned subsidiary company, viz HDIL Entertainment.

                                                                                                        

·        Reliance Cap up 1% on plans to sell non-core assets

Shares of Reliance Capital jumped over 1 percent it is beginning the process of unlocking value from investments in non-core sectors to focus on its key financial services businesses.

·        Ranbaxy Laboratories too has gained 3.8%

Ranbaxy Laboratories has gained 3.8% to Rs 543, its highest level since November 2012 after USFDA granted approval to Ranbaxy's subsidiary Ohm Laboratories to manufacture and sell generic Diovan in the US.

COMMODITY MARKET STRATEGY 03 July 2014

BASE METAL WRAP: Nickel advanced to the highest level in more than a month after an increase in U.S. employment fueled optimism that an economic recovery will boost demand.

ENERGY WRAP: West Texas Intermediate fell for a sixth day, the longest losing streak since May 2012, while Brent slid amid speculation that crude supplies will increase after Libyan rebels agreed to hand over two export terminals.

PRECIOUS METAL WRAP: Gold declined from a three-month high before employment data that may show the U.S. economy is gaining momentum. Platinum fell from the highest in 10 months, while palladium halted an eight-day advance.

GLOBAL EVENTS TO WATCH: Non-Manufacturing PMI, RBA Gov Stevens Speaks, Building Approvals m/m, Building Approvals m/m, Services PMI, Challenger Job Cuts y/y, Minimum Bid Rate, Trade Balance, ECB Press Conference, Non-Farm Employment Change, Trade Balance, Unemployment Claims, Unemployment Rate, Average Hourly Earnings m/m, Final Services PMI, ISM Non-Manufacturing PMI, Natural Gas Storage.

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TOP CORPORATE NEWS

·        Maruti Suzuki at record high, up 4% post June sales data

Shares of Maruti Suzuki touched a record high, up 3.84 percent after it has reported strong sales data in the month of June. It sold 1.12 lakh units in June, up 33.5 percent (up 12 percent month-on-month) compared to a year-ago period supported by sales of passenger cars like Alto, A-Star, WagonR, Dzire..

·        L&T gains on new order win by construction division

L&T rose 1.23% after the company said that its construction division won a contract of Rs 2442 crore from Bharat Sanchar Nigam.

                                                                                                        

·        Sterlite Technologies spurts after winning BSNL order

Sterlite Technologies hit an upper circuit limit of 5% after the company said it bagged nearly Rs 2500 crore of contracts from BSNL to implement end-to-end rollout of optical fiber network for defense services.

·        Central Bank Of India revises interest rates on FCNR-B DEPOSITS

Central Bank of India now offers interest of 4.68 % for USD Deposit of 5 Years, 5.18 % for GBP Deposit of 5 Years, 3.67 % for EURO Deposit of 5 Years, 4.99 % for CANADIAN DOLLAR Deposit of 5 Years & 6.31% for AUSTRALIAN DOLLAR Deposit of 5 Years.

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TOP CORPORATE NEWS

·        Ranbaxy, Sun Pharma up 6-8% on US FDA nod

Shares of Ranbaxy and Sun Pharma are gaining investors attention on US FDA approval and price hike of drugs. Ranbaxy and Sun Pharma jumped 8 percent and 6 percent respectively, both hitting 52-week high.

·        Blast at a GAIL gas pipeline in Andhra Pradesh

Fourteen people have been reportedly killed and several have been injured in an explosion that occurred at an 18-inch pipeline of GAIL near an ONGC refinery complex in Nagaram in the East Godavari district in Andhra Pradesh.

                                                                                                        

·        Havells India gains 8% ahead of board meet for stock split

Havells India has surged 8% ahead of board meeting on Monday to consider sub-division of equity shares of face value of Rs 10 a share to a lower denomination.

·        Tech Mahindra stock up 3%

Shares of Tech Mahindra were up 3% after the company signed strategic alliance with Finland-based Comptel.

TOP CORPORATE NEWS

·        Coal India yet to sign fuel supply pacts for 4925 MW

Coal India has so far signed fuel supply pacts with power plants for a capacity of only 73,075 MW. The coal and power ministries are now under one Minister- Piyush Goyal.

·        L&T Technology Services buys 74% stake in Thales Software

L&T Technology Services, a unit of Larsen and Toubro Ltd has acquired a 74% equity stake in Thales Software India Pvt. Ltd, to strengthen its avionics business.

                                                                                                        

·        Dewan Housing Finance jumps after ratings upgrade by CARE

Dewan Housing Finance Corporation surged 6.49% after CARE has up-graded the ratings assigned to the long term bank facilities and other instruments/securities of the company.

·        Crompton up 3%, FICG consortium bags offshore wind project

Shares of  Crompton Greaves gained as much as 3.2 percent after the Avantha Group company along with the other consortium partners Fabricom and Iemants has been selected by Van Oord, for the offshore wind project 'Gemini' in the Netherlands.

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