Market is expected to open on positive note, We can see Nifty spot to trade around 5200-5220 in opening trade, if Nifty spot sustain above 5220 level we may see buying momentum to continue in midcap space, Nifty spot is having resistance at 5220-5250 above 5250 we may see short covering to initiate in market and it could move till 5290 during the day, whereas Nifty spot is having supports at 5180-5150.
BOARD MEETING :-
• AVT NATURAL PRODUCTS to consider stock split, dividend.
• EURO CERAMICS to mull issue of
MARKET NEWS:-
• COAL: Government is gearing up to hold the first round of auction of coal blocks in the second quarter of 2012. Mining ministry has recommended that miners mandatorily share 100% project royalty with project-affected families.
• METAL: The steel ministry will "soon" come out with interest rate subsidy schemes for iron ore processing, and introduction of energy-efficient systems in secondary steel plants.
• TAXATION: The Maharashtra government has increased tax on petrol and diesel cars sold in the state by 2% and 4% respectively. It has also implemented a 12.5% tax on natural gas entering the state.
• Maharashtra govt says VAT refund only for vehicles sold in state
• India seeks S Korean funding for clean energy, infrastructure
• Tata Comm may divest data centre business to subsidiary
• NTPC signs pact for 72.5-mln-euro term loan with German bank Moody's positive on Vedanta
buying govt shr in Hind Zinc, BALCO
• Source says Tuesday's GoM on pharma pricing policy deferred
• HCC arm Lavasa Corp launches 2,400-acre second township near Pune
• GAIL to step up spot LNG import FY13; get 20 cargo at Dabhol, Dahej
• Tata Metaliks to raise 1 bln rupees via preference share issue
• Central Bank launches share trading in tie-up with Angel Broking
• Chemplast Sanmar sets delisting floor price at 4.51 rupees/shr
• Parabolic Drugs plans 700-800 mln rupee capex, dosage unit FY13
• RIL to revisit low-cost housing plans
• Calcutta High Court orders Dunlop liquidation
• Source says RIL, BP to submit KG-D6 integrated development plan by Oct
• RBI Chakrabarty for reasonable gap in bulk, retail deposit rates Coal shortage to hit 46,000MW power projects, say analysts
• Telecom regulator may rule out need for exit policy
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