New York: 21:00 || London: 02:00 || Mumbai: 05:30 || Singapore: 08:00

Reports India

Indian stock market and companies daily report (September 03, 2014, Wednesday)

September 3, 2014, Wednesday, 05:35 GMT | 00:35 EST | 09:05 IST | 11:35 SGT
Contributed by Angel Broking

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

US market closed flat, on economic front the manufacturing segment expanded in August at the fastest pace in three years as orders grew by the most in a decade, bolstering the case for the Federal Reserve to raise interest rates sooner than anticipated.

European stocks were little changed, following a two-day rally prompted by speculation that policy makers will accelerate stimulus.

Back home, Indian market ended on a positive note as decline in crude oil prices and positive cues from European stocks helped Indian indices strike yet another record high.

Markets Today

The trend deciding level for the day is 26,996 / 8,074 levels. If NIFTY trades above this level during the first half-an-hour of trade then we may witness a further rally up to 27,106 - 27,193 / 8,111 - 8,139 levels. However, if NIFTY trades below 26,996 / 8,074 levels for the first half-an-hour of trade then it may correct 26,909 - 26,800 / 8,046 - 8,008 levels.

Cipla launches Salmeterol/ Fluticasone combination MDI (substitutable for Advair) in Germany and Sweden

Cipla has announced launch of Salmeterol/ Fluticasone combination MDI (brand Advair) in Germany and Sweden. The said drug is estimated to have a total market size less than ~US $100mn. Thus, the development is not significantly accretive to the company's earnings given the market size, it validates its ability to launch substitutable combination Inhalers in regulated markets and also given that several global players have failed towards this. With other MDI combination inhaler launches waiting in the wings along with the DPI, which is even bigger market size, the inhaler opportunity will be a long-term earnings driver for Cipla, both in EU & US markets over the next five years. We remain neutral on the stock.

Economic and Political News

- UP sugarcane area down by 10%

- Vig ilance Commission questions top-level appointments in PSBs

- Singapore in no hurry to review economic pact with India

Corporate News

- Unitech to sell non-core land to cut debt, improve cash flows

- GMR Infrastructure inks MoU with JBIC

- Sp iceJet promoters to increase stake by 10 %