New York: 01:52 || London: 06:52 || Mumbai: 10:22 || Singapore: 12:52

Reports India

Indian stock market and companies daily report (July 22, 2014, Tuesday)

July 22, 2014, Tuesday, 04:28 GMT | 23:28 EST | 07:58 IST | 10:28 SGT
Contributed by Angel Broking

Indian markets are expected to open on a positive note with tracking positive opening on SGX Nifty along with positive Asian markets.

US market ended modestly lower as worries about further sanctions against Russia generated some negative sentiment after a passenger plane was shot down near the Ukraine-Russia border last week. The pullback on the day partly offset the strength that was seen last week.

European stocks fell sharply, extending a run of topsy-turvy trading amid rising tensions between Russia and the West even though German producer prices came better as per expectation.

Back home, Indian markets closed positive supported by some better than expected quarterly earnings.

Markets Today

The trend deciding level for the day is 25,751 / 7,693 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 25,825 - 25,935 / 7,713 - 7,742 levels. However, if NIFTY trades below 25,751 / 7,693 levels for the first half-an-hour of trade then it may correct 25,642 - 25,568 / 7,665 - 7,645 levels.

GMR proposes to set up Rs.2,500cr greenfield port at Kakinada

The company is setting up large port in Kakinada SEZ on the Andhra Seacoast which has prospective of 10,500 acres development. However, it will be developing 2,500 acres initially which will have capacity to handle 15 MMTPA. It will become the most modern cargo hub on the eastern coast once completed.

The location identified for the port comes with a 7-km long coast line and will have a potential to accommodate very large cargo vessels after it would be deepened by 22 meters, according the company sources. The location of the new port is 30 km away from the existing Kakinada port.

GMR has already made investments by setting up gas based power plant earlier.

Economic and Political News

- Govt accords site clearance to Dholera Airport

- Coal block scam: CBI examines T K A Nair

- TRAI recommends sharing of all telecom spectrum

Corporate News

- Strides Arcolab to beef up its generic branded business

- Standard & Poor's revises ratings on Tata Steel upwards

- Rolta bags multi-million dollar order in Saudi Arabia

Stock Market Forum