Dear Customer,
Markets always tend to be interesting with something or the other happening all the time. Our Morning Mantra is released before the opening bell and it includes the market commentary along with Corporate & Global news for the day.
- U.S. stocks suffered their worst selloff in 2015 on Thursday as markets were buffeted by worries about a slowdown in global growth.
| Dow Jones |
16990.7
|
-358.0
|
-2.06%
|
| Dow Futures |
16795.0
|
-122.0
|
-0.72%
|
| Hangseng |
22270.8
|
-486.7
|
-2.14%
|
| Nikkie |
19612.9
|
-420.6
|
-2.10%
|
| SGX Nifty |
8277.5
|
-100.5
|
-1.20%
|
- Asian stocks tumbled, extending the worst week for global equities in nine months, as a gauge of Chinese manufacturing plunged to the lowest since 2009. Gold extended gains.
- Market is expected to open on negative note and likely to be under selling pressure during the day.
- Maruti Suzuki has raised prices by Rs 3,000 to Rs 9,000 across products, barring the recently launched S-Cross. The increase became effective August 11. The increase comes after a gap of nearly two years. When the company hiked prices in January this year, it was on account of an increase in excise duty.
- Infosys has launched three new services which, it said, would work as a catalyst in positioning it as a next-generation services company. The three initiatives together would be known as ‘Aikido’, name of a popular Japanese martial art.
- KIOCL Ltd, a mini ratna PSU under the Union ministry of steel, plans to establish a pellet plant of one million tonne per annum (mtpa) capacity through a joint venture (JV) with Andhra Pradesh Mineral Development Corporation (APMDC) in Ananthpur district (Andhra Pradesh). The pellet plant, to cost Rs 1000 crore, is expected to be operational in 2017.
- Google Inc and ecommerce behemoth Amazon are among those in talks with the Tata Group to buy the data centre business of Tata Communications in a deal expected to fetch about Rs 4,261.4 crore to Rs 4,589.2 crore ($650-700 million).
- Foreign Investment Promotion Board gave approval to increase foreign investment limit in Den Networks from 49% to 74% of the paid up share capital.
- NHPC has restored Unit-4 of its Chutak power station in Jammu and Kashmir, which was shut down due to sudden increase in the water level in June.
- Government on Thursday fixed Rs 382 apiece as the floor price for 5% stake sale in Dredging Corporation of India on Friday, a move that is likely to fetch it Rs 54 crore.
- Vaibhav Global Says Class Action Lawsuit Filed Against Arm Liquidation Channel In US US Arm Allegedly Provided Misleading Estimated Retail Values To Consumers. Liquidation Channel Will Defend Against The Lawsuit Vigorously
- Institution Desk - Indian Economy- Quick View- Repo Rate Cut Likely, But Not Imminent: With Wholesale Price Index (WPI) contracting 4.1% in July 2015, market participants believe that a cut in repo rate by the Reserve Bank of India (RBI) is imminent. Nevertheless, as the RBI has made it clear that retail inflation is its policy instrument rather than WPI inflation, the focus should be on the former. Although retail inflation was way below consensus estimate, it is important to note that vegetable prices accounted for more than half of the total deceleration in headline inflation in July 2015. Excluding vegetable prices, retail inflation was 4.8% in July 2015 against reported inflation of 3.8%. This reminds us of early 2012 and late 2014 when an ephemeral, (but a sharp) decline in vegetable prices helped retail inflation ease significantly, only to move up after a couple of months. This is what makes us cautious. A reading of, say 3.5% for August 2015 should not make the RBI to cut rates immediately, just like a higher reading should not prompt it to hike rates. Consequently, we don’t expect a repo rate cut in September 2015, but its prospects in December 2015 have certainly risen.
- Results Announced
| Caplin Point |
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| HCL Infosystems |
|
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