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Reports India

Indian stock market and companies daily report (August 19, 2014, Tuesday)

August 19, 2014, Tuesday, 05:28 GMT | 01:28 EST | 09:58 IST | 12:28 SGT
Contributed by Angel Broking

Indian markets expected to open on positive note tracking SGX Nifty and Asian markets.

US markets moved sharply higher over the course of the trading day on Monday, extending the notable upward move seen over the past several sessions and closed on positive note. The strength on US markets was largely due to easing geopolitical concerns. Further, the National Association of Home Builders released a report showing an unexpected improvement in homebuilder confidence in the month of August which also created positive sentiment.

European markets ended positive on Monday amid hopes for a peaceful resolution to the crisis in Ukraine and also some positive earnings news.

Back home, Indian markets closed on positive note, driven by sustained capital inflows after Prime Minister Narendra Modi unveiled the economic agenda of his government and easing whole-sale price inflation also boosted sentiment.

Markets Today

The trend deciding level for the day is 26,302 / 7,845 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,502 - 26,612 / 7,910 - 7,946 levels. However, if NIFTY trades below 26,302 / 7,845 levels for the first half-an-hour of trade then it may correct 26,192 - 25,993 / 7,809 - 7,743 levels.

Godrej Consumer Products mulls new plant at Seemandhra to make soaps, insecticides

Godrej Consumer Products (GCPL) may consider setting up a new plant in Seemandhra, while continuing the expansion of the existing capacity of plants in North East and Jammu to meet growing demand for its products. The company is expecting a stronger second half of FY2015 due to increased sentiments in the market. Hence, GCPL has decided to set up new plant on green field locations or expanding in brown field locations at Jammu and North East which would depend upon the tax benefits (GCPL is looking for maximum tax exemption location). However, the company is awaiting details on what benefits the new state would offer to set up the plant. Thus, we believe that this is positive move taken by company and it will increase revenue from soaps and insecticides segments. Further, the company will get tax benefit from these locations which aid the profitability.

Economic and Political News

- Tamil Nadu Government raises concerns over Draft bill on GST

- Chhattisg arh government disburses loans worth '2,000cr to farmers

- Cash-starved Food Corporation of India asks government to clear '50,000cr dues

Corporate News

- Bajaj group sells three-fourths of its shares in Force Motors

- JSW Energy eyes JP Power's Bina, Nigrie power plants

- Lanco Infratech puts plants with 3,000 MW capacity on sale to reduce debt