Wednesday, 19 August 2015

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Shares of Cummins fell over 1 percent intraday on Wednesday. Nomura maintains reduce rating on the stock with an unchanged target of Rs 1064 per share. The brokerage says that the recent surge in revenue growth in Cummins India’s power generation segment is not sustainable beyond FY16. Cummins India’s powergen revenues in Q1FY16 benefitted from an uptick in demand in the real estate segment.

India's debt and foreign exchange markets were closed on Tuesday for a local holiday.India forthnightly money supply data to be released by the central bank during the day.India's cenbank says repo bids rise to 141.47 bln rupees.Indian banks' refinancing with RBI falls to 15.44 bln rupees.India cenbank says banks' cash balances fall to 3.61 trln rupees The stock markets were trading on a flat note with a negative bias in the morning trades.

 The Sensex was down 20 points at 27,811 and Nifty slipped 11 points to 8,455.The 50-share Nifty index slipped below its crucial psychological level of 8450, weighed down by losses in FMCG, metals, power and auto stocks. Rupee depreciated 12 paise to hit a fresh two-year low of 65.43 against dollar in early trade today over its Monday's closing of 65.31. The domestic currency market remained shut on Tuesday on account of Parsi New Year.

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