Epic Research Special Stock Market Report 27 June 2017

Global markets at a glance
The S&P 500 and the Dow were slightly higher on Monday but gains were muted by a fall in technology stocks which nudged the Nasdaq lower as investors turned to more defensive sectors. The slow-growing, high-dividend S&P utilities and telecommunications were the best performers among the 11 S&P sectors. Technology stocks, which have been under pressure as investors worry about stretched valuations, hit a session low in late afternoon trading.

Slump sale of Mundra project will improve Tata Power’s valuations
Tata Steel sells stake in Tata Motors to Tata Sons for $586.3 million
Lenders to refer Bhushan Power, Bhushan Steel NPA cases to NCLT
Aurobindo Pharma US FDA Completes Inspection Of Aurobindo Pharma’s Unit 7,US FDA Issues Zero Observations To Aurobindo Pharma’s Unit 7
Infosys settles with New York Attorney General relating
to amount of taxes paid in NY
LT Foods inaugurates rice plant at Rotterdam, Netherlands with capacity of 60,000 tones
SBI, Bhushan steel, Amtek, Jyoti in focus: SBI chooses
various consultancy firms for handling loans of Amtek,
Electrosteel, Jyoti structures, Bhushan steel
HPCL joins talks to buy stake in Russian oil fields
SAIl eyes South Africa, Canada for coal import
HDFC seeks shareholders nod for 18000cr fund raising

Endurance Tech – Crisil upgrades long term rating to AA/Stable from AA-/Positive
Lenders Approve Sending Bhushan Power To The NCLT
IDFC in focus: Vikram Limaye resigns as MD & CEO Loan account of Bajaj Hindustan Sugar will be taken
under S4A Scheme
Mafatlal Industries board approves to sell 1,18,389
shares of Navin Fluorine worth around 33cr
JSW Steel BM on June 29th June to consider raising additional funds

Gold futures were trading higher during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the precious metal on safe-haven appeal as the dollar softened and risk aversion due to
geopolitical events.

Trading Recommendation
BUY GOLD ABOVE 28530 TGT 28630 28830 SL BELOW 28400
SELL GOLD BELOW 28350 TGT 28250 28050 SL ABOVE 28450

The Indian rupee inched marginally higher against the dollar in early trades on Friday, 23 June 2017 followed by fresh selling of the American currency by banks and exporters. A positive opening in domestic stocks and a weakening dollar overseas also supported the rupee.

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