Rolls-Royce working on new model!

Equity Market Headlines

The 50-share Nifty index is expected to open lower on Wednesday following muted trend seen in other Asian markets. Tracking the momentum, the index is expected to retest its crucial psychological support level of 7700 in trade today. Stocks in news are Hero Motocorp, Bata India, Jubilant Life Sciences, GMR Infrastructure, Coal India, NTPC, HDIL, IL&FS Engineering, Jindal Steel and power and NHPC

Today’s Headlines

1) Rolls-Royce working on new model; to hit market by mid-2016.
2) Kotak Investment, Ambit Capital & Edelweiss look to raise $500 million each for structured debt fund.
3) Government may take over Goa dairy, if new union is strongly opposed.
4) Power Ministry mulls fund to finance hydro projects.
5) Skymet raises $4.5 million to better R&D services.

Commodity Key Headlines

1) Dirtiest Fuel Threatens 700-Year-Old Villages in Europe.
2) U.K. Plans to Criminalize Energy-Market Rigging With New Laws.
3) WTI Falls to Six-Month Low with Demand Seen Declining.
4) Soybean Futures Fall as Rains in U.S. Midwest Seen Boosting Crop.
5) Silver Falls to Six-Week Low, Gold Drops as Dollar Gains.
6) Copper Caps Biggest Loss in 8 Weeks as Dollar Gains.
7) CME to Start EU Gas Futures as Trayport Remains Independent.
8) Baconholics Undeterred by Pig Prices at 30-Year High.

Currency Key Headlines

1) India’s 10-year sovereign bonds fell the most in four months after central bank Governor Raghuram Rajan left interest rates unchanged and pledged to curb inflation.
2) The pound rose for a second day against the euro as a report showed U.K. services output grew at a faster pace in July.
3) Chile’s economy grew less than analysts expected in June, expanding at the slowest pace since the aftermath of an earthquake in February 2010 that devastated the center-south of the country.

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CAG pulls up PowerGrid for loss in revenue!

The 50-share Nifty index is expected to open flat on Tuesday following muted trend seen in other Asian markets. However, investors will keep a close eye on outcome of RBI policy review due today which is likely to dictate the trend for the markets. Stocks in news are TATA Steel, DLF, Aurobindo Pharma, Marico, Pfizer, Unitech, Prestige Estate, Purvankara, Power Grid, TBZ, Tata Communications and SRF.

Today’s Headlines

1) SAIF Partners, Accel Partners and Sequoia Capital to invest up to $10 million in Rockstand.

2) Hidesign accuses Woodland for infringing copyright laws by copying its designs.

3) ITC hikes price of select cigarette brands by up to Rs 10 per pack.

4) CAG pulls up PowerGrid for loss in revenue.

5) Sesa Sterlite to spend Rs 8,000 crore on expansion.

6) Weather, law & order problems hit Coal India output.

 Currency Headlines

1) The euro traded at almost its lowest level versus the dollar since November as investors held the largest position in two years betting on a drop in the currency before the region’s central bank meets this week.

2) India’s rupee rose the most in three weeks after disappointing U.S. jobs data eased speculation the Federal Reserve will raise interest rates.

3) Ghana will seek immediate talks with the International Monetary Fund to help stem the world’s worst currency slide, ending four months of contradictory statements from the government about whether it needs emergency aid.

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Expectations for swings in India’s rupee declined!

Currency Market Headlines

1) Expectations for swings in India’s rupee declined to a three-year low as stocks rallied after a pickup in monsoon rains tempered concern inflation will accelerate.

2) The pound rose to the strongest level in 22 months against the euro as a report showing the U.K. jobless rate slid to the lowest since 2008 added to signs the economy can withstand higher interest rates.

3) New Zealand’s dollar slumped the most in seven weeks after the consumer price index increased less than economists forecast and a gauge of dairy prices dropped to the lowest level since 2012. 

Debt Market Key Headlines

1. Continuing to bet big on the reform agenda of Narendra Modi-led government, overseas investors have poured in nearly Rs 17,000 crore in the Indian markets since the beginning of the month.

2. Net investments by foreign investors in equity market stood at Rs 7,505 crore ($1.25 billion) till July 11. Net inflow for the debt market was Rs 9,286 crore ($1.55 billion), taking the total amount to Rs 16,791 crore ($2.8 billion), shows the latest data.

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India’s rupee erased gains on speculation..

1) ECB President Mario Draghi reduced the deposit rate to minus 0.10 percent from zero, making the institution the world’s first major central bank to use a negative rate. Policy makers also lowered the benchmark rate to 0.15 percent from 0.25 percent.

2) The euro has weakened 3.1 percent since touching a 2 1/2-year high on May 8 before Draghi sent it tumbling by saying that the Governing Council would be “comfortable” to act in June.

3) India’s rupee erased gains on speculation the central bank intervened to rein in an advance that’s made the currency the best performing in Asia this year after Pakistan’s rupee. 

Debt Market Key Headlines

1) The finance ministry is reportedly examining mergers of the country's state-run banks to create stronger financial institutions. True, Indian banks do not have large enough balance sheets to meet the needs of large rapidly globalizing companies. Small public sector banks could gain economies of scale by merging

2) Also, the global financial crisis in the aftermath of the collapse of Lehman Bros has shown that no country needs a bank that is too big to fail. Small banks, theoretically, do not pose systemic risks and can be allowed to sink.

Read detail analysis report here: -  http://www.rrfinance.com/Reserch/ResearchHome.aspx