• Indian stock market and companies daily report (September 16, 2015, Wednesday)

    Indian markets are expected to open on a Positive note tracking the SGX Nifty and global markets.

    The US markets traded in the positive territory throughout the day and closed higher as some weaker than expected economic data provided support for the view that the Federal Reserve will leave interest rates unchanged. Earlier in the session, the Commerce Department released retail sales data which increased by 0.2% in August against estimates of 0.3%. Additionally Industrial Production fell by 0.4% in August against estimated decline of 0.2%.

    After fluctuating earlier in the day, the European markets ended Tuesday's session in the green, mainly led by positive opening in the US markets which opened on positive note.

    Indian shares gradually traded lower on Tuesday as nervousness ahead of the FOMC announcement on Thursday prompted traders to book profits. Weak global cues also weighed on investor sentiment.

    Markets Today

    The trend deciding level for the day is 25,755 / 7,836 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 25,861 - 26,016 / 7,873 - 7,917 levels. However, if NIFTY trades below 25,755 / 7,836 levels for the first half-an-hour of trade then it may correct towards 25,600 - 25,495 / 7,793 - 7,756 levels.

    Tata Motors (JLR) enters SUV market with launch of F-Pace model

    Tata Motors-owned Jaguar Land Rover (JLR) entered the SUV market with the launch of F-Pace model at the Frankfurt Motor Show. F-Pace has been dubbed the "ultimate practical sports car", which embodies the spirit of the iconic British luxury car brand with modern technology. It is expected to hit the roads in Europe and the US in a phased rollout by early next year, with an Indian launch expected in the latter half of 2016. The starting prices for the US are USD 40,990, the UK as 34,170 pounds and Germany 42,390 Euro. The cars will be produced at JLR's 500-million pounds Solihull factory in the UK using new architecture which is more aluminium based, giving it a revolutionary light weight appeal. The launch of the new F-Pace marks the first time the 80-year-old car manufacturer has entered the SUV market. New products such as the Jguar XE and F-Pace are likely to rake up volumes for JLR as these are new segments which the car marker has tapped. We currently have Buy rating on Tata Motors.

    Wonderla Holidays to set up amusement park in Andhra Pradesh

    Wonderla Holidays Ltd has signed Memorandum of Understanding (MOU) with the Government of Andhra Pradesh to set up an Amusement park in Andhra Pradesh over a period of next four to five years. This follows the MOU signed by the company with the Tamil Nadu government at the Global Investors Meet (GIM) held on September 10, 2015. The company is yet to finalize on the land for the said project. We maintain our Positive view on Wonderla Holidays.

    ABB India Bags Orders worth '119cr

    ABB, the leading power and automation technology group, has won orders worth around '119cr to provide plant electrification, automation and substation solutions for solar power plants being built as part of India's strong push for solar energy and renewables. Spread across the southern Indian states of Karnataka, Tamil Nadu and Andhra Pradesh, these projects will connect more than 850 megawatts (MW) of solar energy to the grid and will be among the biggest solar projects worldwide. The most significant of these projects, placed by the Adani Group, is the 648 MW solar plant in Kamuthi, Tamil Nadu. Solar, which accounts for ~5% of total order book of '8,000cr (at the end of 1QFY2016), is considered an important growth driver in an environment where large order finalizations are delayed and sluggishness persist in Industrial capex recovery.

    Exports dip for ninth straight month; fall 20.6% in Aug

    Contracting for the ninth month in a row, India's exports plunged by 20.6% in August to $21.26 billion, widening the trade deficit. The significant slump in country's exports is attributed to global slowdown and declining commodity prices worldwide. In August 2014, the exports had amounted to $26.8 billion. The last time exports registered a positive growth was in November 2014, when exports had expanded at a rate of 7.27%. Imports fell by 9.95% to $33.74 billion in August this year due to sharp decrease in oil prices, widening the trade deficit to $12.47 billion, according to the data released by the Commerce Ministry.

    Economic and Political News

    - August trade deficit flat at $12.48 bn, exports fall

    Corporate News

    - Orchid Pharma to convert rupee term loans to foreign currency loans

    - Govt allots Utkal-D & E coal blocks to NALCO

    - Biocon launches pen like device to administer insulin

    Contributed by Angel Broking
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