New York: 08:24 || London: 13:24 || Mumbai: 16:54 || Singapore: 19:24

Reports India

Indian stock market and companies daily report (August 20, 2014, Wednesday)

August 20, 2014, Wednesday, 11:25 GMT | 06:25 EST | 14:55 IST | 17:25 SGT
Contributed by Angel Broking

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

US markets turned in another strong performance during trading on Tuesday, extending the upward trend seen over the past several sessions. The continued strength on Markets came following the release of two closely watched reports on consumer price inflation and new residential construction.

European markets ended positive on Tuesday amid easing concerns about Ukraine and hopes the Bank of England will hold off on a widely-anticipated rate hike due to lower U.K. inflation in July.

Back home, Indian markets closed on positive note on back of several factors such as continued foreign fund inflows, falling oil prices and easing geopolitical concerns which created positive sentiment.

Markets Today

The trend deciding level for the day is 26,446 / 7,899 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,505 - 26,589 / 7,917 - 7,936 levels. However, if NIFTY trades below 26,446 / 7,899 levels for the first half-an-hour of trade then it may correct 26,362 - 26,304 / 7,880 - 7,862 levels.

Arvind Ltd forays into e-commerce with custom clothing brand Rs.Creyate

As per the media report, Arvind Ltd has announced its foray into e-commerce with custom clothing brand Rs.CreyateRs. and it aims to reach Rs.1,000cr revenue from e-commerce in three years. The company is the manufacturer of garments under brands like Flying Machine, Colt and Excalibur. The company also has retail brands like Megamart, Next and Club America. Arvind Limited has license for selling products of several global brands like Arrow, Elle and US Polo Assn, and a joint venture in India with Tommy Hilfiger. Thus, we believe that this is positive move taken by company and e-commerce would be one of the major revenue growth drivers for the company going forward.

Economic and Political News

- Government mulling mining bill in Winter session to allow private players

- Government reiterates stand on WTO food subsidies issue

- Indirect tax collections up 3.9% in April-July

Corporate News

- TCSRs. Diligenta secures multi-pound deal from UK-based Friends Life

- Ashok Leyland mobilise Rs.210cr by selling land

- Karur Vysya Bank launches share sale to raise upto Rs.1,000cr