Rupee Opening:
The Indian rupee opened strong at 68.75 against the US dollar, rising 20 paise compared to Thursday’s close of 68.95 a dollar on hope of Federal Reserve’s interest rate in upcoming policy meeting.
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Market pre-Opening
Benchmark indices were trading higher in pre-opening with the BSE Sensex rising 217.53 points to 39,114.99 and the Nifty50 climbing 36.90 points to 11,633.80.
Srei Infrastructure
Company and its arm Srei Equipment Finance have withdrawn amalgamation plans of both entities due to developing market conditions in NBFC sector.
JSW Steel in Action
“The board would be considering raising of long term funds during its meeting convened to be held on July 26.
CLSA Bullish on ACC
The global brokerage house maintained buy call on the stock and increased price target to Rs 2,050 from Rs 2,000 per share as EBITDA expanded to an 8-year high & in four digits in Q2.
CLSA raised its EPS forecasts by 3-4 percent. “Cement pricing, a key stock price driver, needs to be monitored,” it said.
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