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Equity Research Report: Religare Morning Digest

We feel that this rebound in index is a relief rally in corrective phase and the bias will remain on the down side till Nifty is trading below 8050 mark.
10 Oct 2014 | 07:00 AM

Corporate News: 

GVK Power & Infrastructure rose 3.63% on NSE after its joint venture firm, GVK Hancock, secured an environmental permit to build its coal project in Australia.

Suzlon Group is to build 2000 MW of new wind energy projects in Madhya Pradesh over the next five years and   establish the supporting manufacturing facilities.

Cipla’s South Africa-based subsidiary Cipla Medpro has announced its collaboration with Teva Pharmaceuticals Industries, the world’s largest generic pharmaceutical company.


Market Roundup 

Key benchmark indices snapped losses registered in the past three trading sessions as firm global stocks boosted the sentiment. All the sectoral indices on BSE rose. The BSE Mid-Cap index was up 1.83%, the BSE Small-Cap index was up 1.59%; both these indices outperformed the Sensex. Stocks from the capital goods basket gained on renewed buying. A major trigger for the markets would be the industrial production data for August 2014, which the government will unveil on 10 October 2014.

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