New York: 09:08 || London: 14:08 || Mumbai: 17:38 || Singapore: 20:08

Reports India

Indian stock market and companies daily report (August 22, 2014, Friday)

August 22, 2014, Friday, 04:59 GMT | 23:59 EST | 08:29 IST | 10:59 SGT
Contributed by Angel Broking

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

US markets ended in positive territory on Thursday. The continued strength on US Markets were mainly due to a batch of largely upbeat U.S. economic data, including a report from the National Association of Realtors showing that existing home sales unexpectedly rose to a ten-month high in July.

European markets closed on positive note, after positive economic news from the U.S. Back home, Indian markets ended the choppy trading session on positive note amid mixed global cues as investors digested weaker-than-expected Chinese manufacturing data and unclear minutes of the latest FOMC meeting.

Markets Today

The trend deciding level for the day is 26,362 / 7,889 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,462 - 26,565 / 7,922 - 7,953 levels. However, if NIFTY trades below 26,362 / 7,889 levels for the first half-an-hour of trade then it may correct 26,226 - 26,139 / 7,858 - 7,825 levels.

Arvind eyes Rs.500cr sales from US brand franchise in 5 years

As per the media report, Arvind Ltd entered into franchise agreement with The ChildrenRs.s Place. The ChildrenRs.s Place is the largest kidsRs. speciality apparel retailer in North America. It designs, contracts to manufacture, sells and license under the brands - The ChildrenRs.s Place, Place and Baby Place. The company will invest Rs.150cr to open 50 stores of the US brand across the country in 5 years and the company will open five stores in the 2015. Now, the company is eyeing Rs.500cr turnover from the franchise of US-based speciality apparel retailer Rs.The ChildrenRs.s PlaceRs. in five years. Thus, we believe that this is positive move taken by the company and it will aid the revenue going forward.

Economic and Political News

- Modi to review performance of infrastructure sector next month

- Oil Ministry wants revenue sharing for future oil contracts

- Jaitley advocates for low tax regime in tourism sector

Corporate News

- RCom to expand retail reach, revamp 100 outlets

- Ranbaxy may face Rs.242cr fine in US for violations at Toansa

- L&T Construction bags Rs.1,832cr contracts