Groupe ADP infused Rs 4,565 crore, the second tranche of investment, in GMR Airports Limited to conclude the deal to pick up a 49 percent stake in the company.
The details of the offer will be shared after completing formalities with the Registrar of Companies, the private lender has said.
Merlin Marketing Pvt has acquired 3.5 lakh equity shares of Kamat Hotels India (representing 1.48 percent of its total paid-up equity capital) at Rs 34.76 per share.
US-based hedge fund Route One Investment Company had initiated talks to increase its stake in the Hinduja Group-backed lender, which is exploring multiple options to strengthen its Balance Sheet and raise capital, sources told Moneycontrol.
The outlook for telecom sector is very stable post the industry consolidation with trio monopoly.
Mitessh Thakkar of mitesshthakkar.com suggests buying Cholamandalam Investment with a stop loss of Rs 209, target at Rs 222 and Federal Bank with a stop loss of Rs 54.5, target at Rs 59.
Indian markets rallied for the fifth day in a row on July 7 and swift price action was seen in stocks like Bajaj Finance, Bosch, Bandhan Bank, IGL and Ujjivan Financial Services.
Technically the index has been scaling higher with narrow ranged candles but the momentum indicators are diverging & indicating lack of strength.
Trends on SGX Nifty indicate a positive opening for the index in India with 27 points gain.
The Dow Jones Industrial Average fell 396.85 points, or 1.51%, to 25,890.18, the S&P 500 lost 34.4 points, or 1.08%, to 3,145.32 and the Nasdaq Composite dropped 89.76 points, or 0.86%, to 10,343.89.
Sensex was down 345.51 points or 0.94 percent at 36329.01, and the Nifty shed 93.90 points or 0.87 percent at 10705.80. IndusInd Bank, State Bank of India and Hindustan Unilever were the top gainers while Bajaj Finance, Zee Entertainment and Asian Paints were the top losers.
If this resistance is broken convincingly the stock can move very fast to Rs 36/39 levels.
Go long in Cholamandalam futures above Rs 215 with a stop loss at Rs 210 for targets of Rs 222 & 232.
Buy Cummins around Rs 430-431 for a target of Rs 470 and above that to Rs 500.
Probability of profit for this trade is around 43 percent.
Australian S&P/ASX 200 futures lost 0.50% in early trading, while Japan's Nikkei 225 futures added 0.11%, and Hong Kong's Hang Seng index futures rose 0.39%.
Brent crude futures fell 13 cents, or 0.3%, to $42.95 a barrel by 0019 GMT. U.S. West Texas Intermediate (WTI) crude futures dropped 10 cents, or 0.3%, to $40.52 a barrel.
On the technical front, Bank Nifty is looking much stronger than Nifty and it is likely to test 23,000 levels in the coming sessions.
Shalimar Paints | Jammu & Kashmir Bank | Birlasoft | Zuari Agro Chemicals | Varun Beverages | Magma Fincorp | Best Agrolife | BC Power Controls | CG Power & Industrial Solutions | NCL Industries | Adani Ports and Special Economic Zone | NR Agarwal Industries | ZIM Laboratories are also in focus today.
Currently, futures trading is allowed in crude oil. Petrol and diesel are, among others, the two major refinery products derived from crude oil.
Yes Bank sold 43 lakh shares in CG Power & Industrial Solutions at Rs 10.75 per share. The bank held 8,00,50,000 equity shares (representing 12.79 percent of its total paid-up equity) in the company as of March 31.
Key support level for the Nifty is placed at 10,721.67, followed by 10,643.63. If the index moves up, the key resistance levels to watch out for are 10,845.77 and 10,891.83.
The said Section permits a complete tax exemption to certain exclusive category of non-resident investors on their income streams such as dividends, interest and capital gains.
Axis Securities has advised its clients to sell gold around Rs 48,250 level for a target of Rs 48,170 on an intraday basis
Mazhar Mohammad of Chartviewindia.in advised traders to buy only on a close above 10,900 levels whereas shorting can be considered on a strong weakness below 10,689 levels