 |
| CAPITALSTARS INVESTMENT ADVISER |
Morning news and update
The Nifty fell for the fifth straight session and ended below the crucial psychological 11,300 mark. The price action formed a bear candle with minor shadow on either side. Going ahead, the zone of 11,108-11,130 will be a crucial zone of the Nifty in the near term as it is the confluence of May month's swing low and the 200-DMA. If Nifty fails to hold above the Wednesday session low of 11,230, it may fall up to these levels. We can expect a short term bounce from anywhere in this zone. On the upside, the level of 11,300 is likely to act as an immediate resistance zone and if it gets past the 11,300 mark and sustains above this level, it would keep the pullback options open towards 11,380. Today is the expiry of the July derivative series, so expect some volatility in the second half of the trading session.
BHEL: BHEL and NTPC have signed a memorandum of understanding (MoU) for forming a JV company to set up a 800 MW Technology Demonstration Plant (TDP) at NTPC existing power plant in Sipat, Chhattisgarh.
Rane Madras: The Bboard of directors of the company has approved enhancement in investments up to USD 30 million (earlier USD 20 million) in Rane Precision Die Casting lnc., USA (RPDC), a step-down subsidiary, either directly or through Rane (Madras) lnternational Holdings B V, The Netherlands (RMIH), wholly-owned subsidiary of the company, over the next five years.
Cox & Kings: The company has defaulted on payment of commercial papers worth Rs 174 crore which were due on July 24.
DHFL: DHFL has defaulted on repayment of NCDs to the tune of Rs 8.07 crore which were due on July 23.
Negogen Chemicals: The company has received a request for waiver of summons in relation to a suit filed by Neogen Corporation in the United States district court, western district of Michigan for alleged trademark infringement related to the use of the brand "Neogen" by Neogen Chemicals Limited. There is an ongoing dispute in the Bombay High Court, where Neogen Corporation filed a similar case in November 2018, but the case has not been admitted as yet and the company has already filed a reply seeking a dismissal of the suit in the High Court of Bombay.
Yes Bank: Yes Bank's long-term ratings downgraded by ICRA; outlook remains negative.
CLICK HERE FOR GET DETAILS & JOIN OUR BEST ADVISORY -
Visit our Link : https://bit.ly/2u2GUhK
Visit My Website : https://bit.ly/1h8KZUM
CAPITALSTARS CALL US : 9977499927
0 comments:
Post a Comment