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Reports India

Indian stock market and companies daily report (September 01, 2014, Monday)

September 1, 2014, Monday, 05:11 GMT | 00:11 EST | 08:41 IST | 11:11 SGT
Contributed by Angel Broking

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

U.S. stocks rose, finishing the biggest monthly gain since February, on improving economic data and speculation central banks will continue to spur growth.

European stocks advanced, posting their first monthly gain since May, as drugmaker AstraZeneca Plc climbed.

Back home, Indian market ended on a positive note ahead of GDP data that is likely to show economic recovery in first quarter of FY15. We had a volatile trading session as traders rolled over position in F&O segment as August month contract today.

Markets Today

The trend deciding level for the day is 26,629 / 7,954 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 26,684 - 26,729 / 7,968 - 7,982 levels. However, if NIFTY trades below 26,629 / 7,954 levels for the first half-an-hour of trade then it may correct 26,583 - 26,528 / 7,940 - 7,925 levels.

BHEL bets on new business models, overseas opportunities

BHEL is exploring new business models apart from scouting for overseas opportunities in Russia, Kazakhstan and other countries. BHEL has taken various strategic initiatives to sustain and grow in present adverse market conditions. BHEL is exploring new business models with partnerships for power plant developers for upcoming UMPPs and debt financing for new projects in partnership with financial institutions. The company is also looking for opportunities in nuclear power segment with focus on indigenization and entry into core-nuclear area. In 2013-14, the company's outstanding order book was worth Rs 1,01,500cr lower than Rs 1,15,1 00cr seen in previous financial year.

Economic and Political News

- Mandatory audit of oil and gas contracts put on hold

- Govt gives 3 more months to fertiliser plants to switch to Naptha

- PM Modi launches Jan Dhan Yojana, 1.5 crore bank accounts opened

Corporate News

- Ramco to set up cement unit in Andhra

- NHAI to put GVK's Madhya Pradesh project for rebidding

- Tata Group has written down $2.2 bn under Mistry