Market Outlook for the day – Current chart pattern suggests upside move to continue.
The government has started work on a long-term plan to tap into India's solar and wind potential lying unexplored in its deserts. The plan could entail an investment of over Rs 2 lakh crore by 2022.
Coal India (CIL) seems to be in a dilemma over its proposal to enter the fertiliser sector. The company had earlier sought shareholders’ approval through postal ballot to amend its Memorandum of Association (MoA) to enable its entry into the sector.
Hindustan Unilever said that it would focus on increasing sales in existing stores rather than pushing for wider distribution.
NMDC reported rise in iron ore production and despatches in Q1 June 2014 over Q1 June 2013.
Key benchmark indices reversed intraday losses in late trade after comments from Finance Minister Arun Jaitley that there is no cause to panic about the possibility of higher inflation. A decline in crude oil prices also aided recovery on the domestic bourses as CNX Nifty hit record high. Among BSE sectoral indices, oil & gas, realty and power indices gained the most by 1.67 per cent, 1.1 per cent and 0.89 per cent, respectively. On the other hand, metal, consumer durables and capital goods indices lost investors' support and were down 0.87 per cent, 0.36 per cent and 0.27 per cent, respectively.