Share Market Updates : Stock News 3 July

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State Bank of India: SBI aims to raise at least $500 million through a five-year overseas bond sale as soon as this month, two sources with direct knowledge said.

Hero MotoCorp: The June 2012 sales data was lower than street estimate. June sales stood at 5,34,000 vehicles, rising 4 per cent over last year. However, it was a 4 per cent fall over May 2012.

Reliance Power: There is a buzz on the street that Ming Yang, a Chinese energy company could buy a stake in Reliance Capital-owned Global Wind Power. Reliance Power also has decided to co-develop clean energy projects in India.

Reliance Industries: Nikko Resources, a partner of RIL in energy exploration blocks has cut estimates of gas output and discoveries in the Krishna-Godavari basin Jindal Steel & Power (JSPL) under scanner for buying ore below market rates

GlaxoSmithKline Inc to pay USD 3 billion settlement in diabetes drug Avandia case 

GMR to swap its minority stake in the Indonesian firm with 29.2% stake in United Fiber (GMR holds 30% stake in Indonesia firm)

GVK Plans to raise Rs 3500 crore from airport stake sale Gabriel India approved bonus issue in the ratio 1:1 China’s official June non-manufacturing PMI came in at 56.7 versus 55.2, MoM.

IMD: Rains 31% below normal since June 1

Unity Infra: Scouting for JV partner to develop land( company is looking for a PE partner to sell 49% stake in hotel project.)

NIFTY FUTURES TIPS>LEVELS>RANGE

Nifty future Levels Resistances: 5310,5321,5327 & 5338, Suppports : 5281,5270,5263 & 5252. 

INTRADAY/ POSITIONAL TIPS :- 

1. S Kumars Nationwide :- Buy at cmp 35.60 or dips near 33-34 with stop loss 31 for Targets 43-50

2. Crompton Greaves : Buy above 128 with stop loss 124.50 for targets 133-137 (intra day).

3 Tata Coffee :Buy above 965 with stop loss 947 for target 985 (intra day).

4. Tata Motors : Sell below 237 or near strong resistances 244-248 with stop loss 253 for target 207 (positional call)