(MENAFNEditorial)
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Nifty futures/Bank Nifty futures market closed on 9800.55 / 24066.45 According to technical analysis if Nifty futures and Bank Nifty future moves up-word in tomorrow treading session then 9878 will be small resistance for Nifty futures and at the same time 24385 will be small Resistance for Bank Nifty futures, if it break this level then then Nifty futures can touch 10027 level and Bank Nifty futures can touch 25452 level in next few days. It will be hard resistance for Nifty futures and Bank Nifty futures. Meanwhile in reveres there is small support on 9790 for Nifty futures and 23678 is for Bank Nifty futures after breaking this support with volume there is big support for Nifty futures on 9616 and 23123 for Bank Nifty futures..
NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
TATA GLOBAL BEVERAGES - Tata global beveragesinformed that the companys overseas subsidiary has formed a step-down subsidiary in Russia. In order to facilitate the restructuring, the company's overseas subsidiary has formed a step-down subsidiary, Coffee Trade LLC, in Russia which will take over part of the existing business said the company in a BSE filing. Tata Global Beverages Limited is a beverage company engaged in the trading, production and distribution of tea, coffee and water. The company's principal activities include processing and blending of tea, including the manufacture of instant tea
MSR LIMITED - Msr limitedannounced on Tuesday that the company has received a purchase order for the supply of 3,000 units 1 litre Dr Copper water bottle to D-Mart stores. It was the second purchase order that the company received from D-Mart within the last 5 days. MSR India is engaged in the business of dairy products trading with products including Daily Fresh,Dr.Copper, Food Products ,EnergiamPowder andDr.Copper Tharma Jal. The company also manufactures copper bottles for drinking water in various shapes and sizes, besides producing food products like pasta, vermicelli and others.
HINDUSTAN UNILEVER - Hindustan Unilever has ventured into the e-commerce space by planning to sell Premium Tea through its own portal. This will be its stepping into the e-commerce business in India. Until now, the company had been marketing its products online via existing marketplaces such as Big Basket and Amazon. The set-up of the portal will redefine its business line in India. HUL claims that its first direct-to-consumer setup aims at gifting options. Under its umbrella, the company targets gifting with pricier products under the Brooke Bond Taj Mahal brand. The brand will be competing with Teabox - a brand backed by Ratan Tata. Sudhir Sitapati, the executive director of Refreshments Section at HUL said, The foray into e-commerce has been aimed at urging people to consider tea as a gifting option. Our range of gourmet teas and exquisite teaware has been specially curated to offer the finest gifting experience for every occasion and budget. HULs refreshments business, comprising of tea and coffee, accounts for 15% of its total sales. The company has emerged as a leader in the 10,000 Crore Tea Market in India. In comparison to other food and beverage segments, tea has not faced stagnation or decline and continues to sustain annual growth of 8 to 9%. HUL aims to market premium brands only through its online venture, and still refrain from entering into the mass end of the segment.
OIL - Oil prices jumped on Fridays trade with both Brent and US Crude set to attain another weekly gain as investors believe that efforts to trim a global gutisworking. US crude was up 2centat USD 51.58 a barrel at 0110 GMT. The contract is heading for a fourth consecutively weekly gain and is on track for a 9% advance this month. Brent rose 22 cents to USD 57.63 a barrel, heading for a fifth weekly climb and a 10% gain for September. The price gains, most of them in the last two-and-a-half weeks, have come as traders anticipated renewed demand from US refiners that were resuming operations after shutdowns due to Hurricane Harvey. The oil prices are getting support asTurkeys threats to cut off a pipeline from the Kurdish region of Iraq after a referendum where Kurds voted overwhelmingly in favour of independence.The Kurdish region exports about 500,000 barrels a day through a pipeline that runs through Turkey to the Mediterranean Sea.
GRASIM - is expected to sell off its fertiliser business Indo Gulf to Saudi Arabia-based SABIC, for nearlyRs3,200 crore, reported a leading news daily. SABIC has come out as the highest bidder for the fertiliser business, thus engaging Grasim and the Saudi Arabian company in advance talks, the report said. The company plansto exit the low-margin and highly regulated business, whereas, Kumar Mangalam Birla is inclined towards aligning the group portfolio to focus majorly on key sectors.
THE NATIONAL DAIRY PROJECT - The National Dairy Project aims to increase the productivity of milch animals which will lead to increase in milk production for meeting growing demand for milk, said Union Minister for Agriculture and Farmers Welfare, Radha Mohan Singh. NDP initiatives are helping farmers to increase production by lowering dietary costs, he noted. Singh said that the country has been the world's largest producer of milk for the last two decades and its credit goes to the farmers of the country. Since more than two-thirds of our nation's citizens live in rural areas, therefore, there is a need to make the farmers more prosperous, for which dairy sector is important. Union Agriculture Minister also informed that the NDDB has implemented several major dairy development programs including 'Operation Flood' from its inception in the country. India is at number one in milk production and contributes 19% of the world's total milk production.
GODREJ AGROVET - Subsidiary of Godrej Industries, is coming up with its Initial Public Offer amounting to Rs Rs 300 crore through issue of fresh equity shares. The companys IPO will open on October 4, 2017 and close on October 6, 2017. The price band decided by the company is in consultation with the book running lead managers at Rs 450 to Rs 460. The company, 63.67% owned by Godrej Industries, will issue fresh shares to raise another Rs 300 crore. V Sciences Pte Ltd., a subsidiary of Singapore governments investment fund Temasek Holdings, will offload a third of its 19.99% holding. Kotak Mahindra Capital Company, Axis Capital, Credit Suisse Securities and Karvy Computershare are the book running lead managers for the proposed issue. The proceeds from the IPO will be used to repay its working capital facilities of Rs 100 crore and to also repay commercial papers worth Rs 150 crore. The rest be used for general corporate purposes. Godrej Agrovet is a diversified, research and development focused agri-business company with operations across five business verticals: animal feed, crop protection, oil palm, dairy, and poultry and processed foods.
INFOSYS - A global leader in consulting, technology and next-generation services, announced that it has launched a private cloud solution in collaboration with Micro Focus SUSE, a pioneer in open source software, providing software-defined data centre infrastructure and application delivery solutions. This solution will help businesses significantly accelerate their digital transformation journey by being hardware agnostic, enabling faster time to market through rapid adoption, providing faster delivery of services, and greater infrastructure agility and control .
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