Motilal Oswal Updates, [29.07.
20 17:44]
[Forwarded from Motilal Oswal Market Update]
Reliance slips 4% after clarification on acquisition buzz of Future Group's retail biz
Reliance Industries (RIL) witnessed huge sell-off on Wednesday after it clarified to the exchanges
over a news article claiming that the company is close to buying Future Group's retail subsidiaries for
consideration of Rs27,000cr. Notably, RIL and Kishore Biyani-led Group's acquisition buzz has been
circulating since the start of this month.
RIL clarified to exchanges saying, "Our company evaluates various opportunities on an ongoing basis.
Further, there is no information which has not been announced to the stock exchanges and which
should have been announced by the Company in terms of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015".
Further, RIL added, "We are unable to comment on media speculation and rumours and it would
also be inappropriate on our part to do so".- Media report
Motilal Oswal Updates, [29.07.20 17:47]
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Motilal Oswal Updates, [29.07.20 19:43]
[Forwarded from TradeGuide Signal]
Evening update – US Stocks Rise Before Fed as Earnings Season Rolls … European market witnesses
mixed bag
· U.S. stocks climbed on speculation the Federal Reserve will signal continued economic stimulus
and as traders sifted through a batch of corporate earnings. The Federal Open Market Committee is
all but certain to keep its benchmark rate unchanged and reinforce the message that it will do
whatever it can to support the recovery. The Fed will release a statement at 2 p.m. Washington time
(ISD 11.30PM), and Chairman Jerome Powell will hold a press conference 30 minutes later. Dow
gained 0.2% while S&P 500 advance half percent.
· European stocks were mixed Wednesday afternoon ahead of the U.S. Federal Reserve’s latest
monetary policy announcement. France Index is up half percent while Germany Index slipped 0.3%.
FTSE Index is trading flat.
· Brent Crude gained 1% to nearly $44/bbl ahead of US Fed interest rate decision. U.S.
inventories shrank by 6.83 million barrels last week, the American Petroleum Institute reported
· Gold held its ground after a record-setting rally as investors awaited the outcome of a Federal
Reserve meeting amid expectations policy makers will remain dovish, potentially spurring more
gains. Gold is trading at $1953/ounce
FIIs net sellers Rs353 and DIIs net sellers Rs506cr
· Results tomorrow - Ajanta Pharma, Cholamandalam Investment, Dabur India, Essel Propack,
GDL, GE Shipping, HDFC, IFB Industries, ITDC, JM Finnacial, Laurus Labs, Mahindra Logistic, Max
Financial, PEL, Rain Industries, Reliance Industries, SRF, Torrent Pharma, Vaibhav Global and Westlife
Development.
