• Indian stock market and companies daily report (September 21, 2015, Monday)

    Indian markets are expected to open in the red tracking the SGX Nifty and Asian cues.

    US markets closed in the red after the Federal Reserve's decision to keep policy interest rate unchanged leading to continued uncertainty for the markets.

    European markets also closed in the negative reacting the US Fed's decision and ahead of the Greece elections, which could likely result in the need for the formation of a coalition government.

    Indian markets closed in the green but well off the day's highs in the wake of weak European cues and fall in US futures.

    Markets Today

    The trend deciding level for the day is 26,274 / 7,998 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,417 - 26,615 / 8,039 - 8,097 levels. However, if NIFTY trades below 26,274 / 7,998 levels for the first half-an-hour of trade then it may correct towards 26,076 - 25,932 / 7,940 - 7,898 levels.

    Policy on coal linkages auction may take some time: Government

    Government has informed Coal India (CIL) that the policy with regard to auction of coal linkages may take some more time to be finalised. The coal ministry however added that an in-principle decision has already been taken to grant future linkages to non-regulated sector through a transparent process of competitive bidding through auction route.

    Coal and Power Minister Piyush Goyal had informed Parliament last month that the government is considering a policy for coal linkage auction and has sought comments/views from stakeholders on the draft auction methodology which it has prepared.

    An Inter-Ministerial Committee (IMC) was set up in January to consider various models, including auctioning of coal linkages/LoAs (Letter of Assurances) through competitive bidding as the selection process and to recommend the optimal structure that would meet the requirements of all the stakeholders.

    Till now, Standing Linkage Committee has been deciding on allocation of longterm and short-term linkages for the sectors, including power and steel. The new policy to allow auction of coal linkages would be a positive for CIL, as it would help market determined rates for coal supplied to the non-regulated sectors. We retain our Buy rating on the stock.

    Government may raise FDI Cap in DTH, cable networks

    An inter-ministerial committee is considering a proposal to raise FDI (foreign direct investment) limits to 100% from 74% currently in broadcasting carriage and content services, including direct-to-home (DTH) and cable networks, aimed at attracting overseas investment and improve infrastructure.

    In case of broadcasting content services - uplinking of news and current affairs TV channels, the proposal under discussion is to raise the limit to 49% from the present 26%. Increase in FDI limit will help improve the pace of digitization of broadcasting services across India. Positive for cable and DTH companies such as Dish TV, Den Networks & Hathway.

    Economic and Political News

    - Petrol, diesel contribute '30,000cr additional excise in April-August

    - India's merchandise exports slide as commodity prices dip

    - Companies Act to be fully implemented by March 201 6

    Corporate News

    - BPCL all set to start work on '5,000cr complex in Kochi

    - Leel a sells Goa property to Malaysian firm for '725cr

    - SRS Ltd to invest up to '900cr in 2 years for expansion

    Contributed by Angel Broking
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