INDIAN BENCHMARKS end at record highs… Nifty tops 7,750.

INDIAN EQUITY BENCHMARKS recouped from their day's lows in late trades to end at fresh record closing highs on hopes that the Finance Minister in his maiden Budget next week would announce reforms to revive economic growth.

Further, Jain Irrigation Systems ended up 5% after the company said it has been issued a Letter of Intent for project by Himachal government involving an outlay of approximately Rs 100 crore. Amtek Auto has dipped 3.7% after Citigroup sold over two million shares worth Rs 53 crore of the company through open market.

The crucial resistance for Nifty is now seen at 7785 and above this 7820.Support for the immediate term is now placed at 7660 and next support will be 7620.

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TOP CORPORATE NEWS

•    Realty stocks advance on hopes of favorable announcements in Budget
Shares of nine real estate developers rose by 0.11% to 2.46% on hopes of favorable announcements for the sector in the final Union Budget 2014-15 to be unveiled on 10 July 2014.
•    TVS Motors Company records total sales of 2.02 lakh units in June 2014
TVS Motors Company recorded 23% growth in sales during the month of June 2014, with total primary sales increasing from 164,128 units recorded in the month of June 2013 to 202,177 units in the month of June 2014.                                                   
•    Reliance Communications allots equity shares
Reliance Communications announced that the QIP Committee of the Board of Directors of the Company, at its meeting held on 02 July 2014, has issued and allotted 33,82,86,197 Equity Shares of face value of Rs 5 each to the eligible Qualified Institutional Buyers at a price of Rs 142.14 per Equity Share.
•    IndusInd Bank launches online store for its customers
IndusInd Bank Ltd has launching an online store from where its customers can redeem their reward points for purchase of merchandise from an online catalogue.

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

·        Power Grid up 1%, to invest Rs 5500 cr for upgradation

Shares of Power Grid were up over 1 percent as it is going aggressive in its investment plans. In a board meeting, the central transmission utility has approved investing Rs 5,500 crore. 

                                                                                        

·        Jindal Steel bags Tata-Aldesa order

Jindal Steel and Power Ltd has won a large order to supply around 88,000 tonnes of long rails to the Tata–Aldesa joint venture for use in the Eastern Dedicated Freight Corridor.

·        ITC recovers after Monday's slide

ITC rose 2.29% by reports that Union health minister has urged Finance Minister to raise tax on cigarettes in upcoming Union Budget for 2014-15.

·        IRB Infra inks Rs 2,300 cr pact with NHAI for Haryana road

IRB Infrastructure has entered into a pact with National Highways Authority of India (NHAI) for a Rs 2,300 crore project for widening of a highway stretch in Haryana under National Highways Development Project.

Nifty includes nifty future and bank nifty future

The Nifty is an indicator of all the major companies of the NSE. Research Team read stock market charts and stock chart patterns are to determine the probable strength of demand versus pressure of supply at various price levels. The result of this is to predict the probable direction in which the stock will move and where it will probably stop. We provide proper updates in our calls.

Nifty includes nifty future and bank nifty future. In this segment we provide 1 or 2 calls per day. The calls are based on technical levels. We provide intraday calls in nifty and always maintain our accuracy level.

INDIAN BENCHMARK open on a positive note

INDIAN BENCHMARK open on a positive note after receiving encouraging data from market regulator, SEBI.

FURTHER, Tata Motors-owned Jaguar Land Rover has announced an investment of 200 million pounds at its Halewood plant in the UK to support introduction of its upcoming SUV Discovery Sport. Oil India Ltd signed an agreement with Russia's Gazprom for joint pursuit of exploration opportunities across the globe.

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Thursday while the DIIs were net sellers of Rs. 117cr, as per the provisional figures released by the NSE.

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INDIAN BENCHMARK have started the trading session

INDIAN BENCHMARK have started the trading session on a higher note tracking firm global cues along with capital goods and software shares leading the gains.

FURTHER, Crompton Greaves rose 2.30% on reports the company has put up a part of its land parcel at LBS Marg in the eastern suburbs of Mumbai for sale. DLF has put on hold delivery of its DLF Riverside luxury project in Kochi, after Kerala government cancelled its CRZ clearance, for alleged breaches,

Trend in FII flows: The FIIs were net buyers of Rs 192cr in the cash segment on Wednesday while the DIIs were net sellers of Rs. 318cr, as per the provisional figures released by the NSE.

IIP AND CPI DATA UPDATE

IIP DATA (Index of industrial production)

IIP data is a simple index which provides information about the growth of different sectors of our economy like mining, electricity, Manufacturing & General. The IIP index reflects the growth in India’s industrial activity and excludes all kinds of services.

·         April IIP stood at  3.4% vs -0.5% in March. 

CPI DATA (Consumer Price Index)

The CPI measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

·         May CPI stood at 8.28% vs 8.59% in April.

TOP CORPORATE NEWS

·        Zee Entertainment up 6.5%, RBI allows 100% FII investment

Shares of Zee Entertainment Enterprises gained as much as 6.5 percent after the Reserve Bank of India allowed 100 percent investment by foreign institutional investors.

                                                                                                        

·        Metal shares gain after positive China signals

Metal shares such as JSW steel, Jindal steel, Tata steel firmed up on hopes of improvement in export demand after encouraging manufacturing data from China which recorded its fastest growth in May. China's official PMI of manufacturing activity in May was up at 50.8, a five-month high, compared with 50.4 in March.

·        Eicher Motors jumps after robust motorcycle sales in May

Eicher Motors jumped 4.39% after the company reported 86% rise in total motorcycle sales to 25,011 units in May 2014 over May 2013.

·        Cox & Kings sells camping business for Rs 892 crore

Cox & Kings has exited the camping business in Europe, selling the segment held by its subsidiary to French travel company Homair Vacances for about Rs 892 crore. Cox & Kings said it would use the proceeds to retire a portion of its Rs 4,200 crore debt before maturity.