Epic Research Special Stock Market Report 25 July 2017

Global markets at a glance
The S&P 500 and the Dow industrials edged lower on Monday, weighed down by losses in healthcare heavyweight Johnson & Johnson, while the Nasdaq hit a record high ahead of a big week of technology earnings reports. The
major US indexes are trading around record-high levels with a huge batch of second-quarter corporate reports due this week. Google parent Alphabet , one of the high-flying “FANG” stocks, was set to report results later in the day
that could support the run for the tech sector, which has outperformed all major groups this year.

Wipro Co. arm invests in VC fund work-bench
Amtek auto Co. says insolvency proceedings accepted by NCLT
JSW energy, JP power Co. puts JV with Toshiba in back- burner and also likely to csall off the Bina power deal
Infosys USD 2 billion buyback tied in regulatory knots
IL&FS Co.’s private equity arm plans USD 1billion infra fund
Patel Engineering NCLT approves Scheme of Amalgamation of Patel Realty (India) (Wholly Owned Subsidiary)with Patel Engineering
Uttam Sugar Mills CARE upgrades rating to BB- from B for long term bank facilities
Triveni Engineering National Green Tribunal allows co to carry on manufacturing activities of Co’s distillery at UP
Probing 30k cases where ITRs revised after demonetisation, says I-T dept

Ratnamani Metals bags two new orders for supply of HSAW Pipes aggregating to Rs 339.00 cror
Hindustan Copper signs MoU with Mishra Dhatu Nigam limited, a CPSE for joint collaboration in production of Copper-Nickel tubes and related itemsI
G Petro has decided to undertake a study to evaluate expansion of its Phthalic Anhydride manufacturing facility at Taloja and its downstream product

COMEX Gold edged up to a three-week high above $1250 per ounce amid broad weakness in US dollar. Dollar eased after European Central Bank President Mario Draghi said ECB policymakers would discuss potential changes to the bank’s bond-buying scheme in the autumn, lifting the euro
to a 14-month high against the dollar. This pulled the broad dollar index lower too. The dollar index is around a 10 month low. COMEX Gold is quoting around $1246 per ounce in Asian trades, almost unchanged on the day.

BUY GOLD ABOVE 28600 TGT 28700 28900 SL BELOW 28500
SELL GOLD BELOW 28400 TGT 28300 28100 SL ABOVE 28500

The Indian rupee weakened in early trades against the dollar on Monday, 24 July 2017 due to fresh dollar demand from importers. However, the US dollar sliding against other currencies overseas and a higher opening in domestic equities limited the rupee’s fall.The domestic currency opened at Rs 64.43 against the dollar and climbed to a high of 64.40 before easing back to a low of 64.4550 so far during the day.

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