Wednesday 3 September 2014

Cipla to invest around Rs 600 crore in R&D this year

The 50-share Nifty index is expected to open lower on Thursday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological support level of 8,100 in trade today. Stocks in news are ONGC, Coal India, Dhanlaxmi Bank, Oriental Bank of Commerce, DLF, Axis Bank, Federal Bank, Idea Cellular and BHEL.

Today’s Headlines

1) Fitch retains rating of SBI, ICICI, BoB, PNB and other banks.

2) Deloitte to advise Carnation Hospitality on Barista business.

3) Essar plans to raise $250 million from Russian bank to buy out minority shareholders.

4) Coal India Limited unions serve 3-day 'work-to-rule' ultimatum from September 18.

5) Cipla to invest around Rs 600 crore in R&D this year.

Read detail technical report here: - http://www.rrfinance.com/reserch/MorningBell/Eq_MorningBell.pdf

Commodity Headlines

1) Brazilian Senate Approves Higher Ethanol Mandate.

2) Argentina’s Grobo Seeks M&A as Agribusiness Consolidates.

3) Brent Rebounds From 16-Month Low on Russia-Ukraine Talks.

4) Grain Prices Drop on Easing Tensions in Black Sea Region.

5) Modi Vies With Widodo as India Set to End Diesel Subsidy.

6) Palladium Falls to Two-Week Low on Russia-Ukraine Talks.

7) Nickel Reaches Four-Week High on Philippine Supply Risks.

8) Ukraine Buys Coal From South Africa After Mines Ruined.

Read detail analysis report here: - http://www.rrfinance.com/reserch/MorningBell/Cm_MorningBell.pdf

Currency Market Headlines

1) India’s rupee rose the most in more than a week after foreigners boosted holdings of local assets amid reviving economic growth and indications of progress toward a Russian-backed cease-fire with Ukraine.

2) Australia’s dollar rose as central bank Governor Glenn Stevens said he’s unwilling to push house prices higher to try to reduce unemployment, boosting bets policy makers are content to refrain from cutting rates.

3) A gauge of future price swings for the pound against the dollar jumped by the most in almost six years as a survey showed support for Scottish independence is rising before this month’s referendum.

Find full technical report here: - http://www.rrfinance.com/reserch/MorningBell/Cr_MorningBell.pdf

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