Tuesday, 26 August 2014

Equity Trading Tips for August 26, 2014

ECONOMY ANALYSIS
 Supreme Court terms all coal block allocations illegal
 Sheila Dikshit likely to resign as Kerala Governor: Sources
 SC stays Aptel's interim order on compensatory tariff
 Expect paper division to do better in H2FY15: Orient Paper
 Kolte-Patil hits 6.7-year high, sees strong revenue growth
 Black Money: India get Swiss banks' data of hoarders


MARKET ANALYSIS
 The Indian markets closed on a flat note after hitting life highs in intraday trade.
 The 30-stock Sensex hit an all-time high of 26,630.74; while the Nifty touched
     7,968.25; its life high.
 The rally on Dalal Street came to a halt after the Supreme Court ruled that all coal
     block allocations post 1992 are illegal.
 The biggest loser post the SC judgement was Jindal SteelBSE -13.97 %, which
     closed the day at Rs 259.00; down 12 per cent.
 HindalcoBSE -9.56 % was another big loser. It cracked about 8%.
 The court's judgement was on a petition against alleged irregularities in the
      allotment of coal blocks to private parties during UPA and NDA regimes from 2001
      till 2009.
 The apex court observed that allocation of coal blocks done under screening
     committee rule was irregular.
 No proper procedure for allocation was followed since 1992, the court said.
 The SC has said further hearing is required to determine whether there is a need for
     cancelling 218 coal block allocations.


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