Godrej Properties gains 3% as co adds new luxury residential project in Mumbai

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Share price of Mumbai-based real estate developer Godrej Properties gained more than 3 percent intraday Thursday as company is going to develop new luxury residential project in Mumbai.

The company in its press release said that it has entered into a joint venture with a renowned developer to develop a 4.25 acres sea-facing property in the prime suburban micro-market of Bandra West, Mumbai.

The project will offer approximately 1 lakh square meters (approximately 1.1 million square feet) of saleable area and will be developed as a luxury residential project, it added.

Pirojsha Godrej, Executive Chairman, Godrej Properties said, “We are happy to add this exciting new project to our development portfolio. This project addition fits well with our strategy of building our presence across the country’s leading real estate markets.”

At 10:48 hrs Godrej Properties was quoting at Rs 913.30, up Rs 21.85, or 2.45 percent on the BSE

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Dish TV jumps 8% on report of Singtel, Bharti Airtel acquiring firm

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Dish TV India shares rallied nearly 8 percent in the morning trade on April 4 after a media report indicated that the company may be acquired by Bharti Airtel and Singtel.

The stock has gained 11 percent in the last seven days. At 1042 hours IST, it was quoting at Rs 40.20, up Rs 1.85, or 4.82 percent amid high volumes on the BSE.

CNBC-TV18 said quoting unnamed sources said Singtel and Bharti Airtel will make combined offer to acquire the Essel Group-owned direct-to-home service provider.

The report further said both are looking to acquire promoter’s 60 percent in Dish TV and will pay around Rs 6,150 crore for promoter stake.

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Stock To Watch for Today : ALBERT DAVID LIMITED

Stock To Watch for  Today : ALBERT DAVID LIMITED

On the hourly charts, Albert David Limited has given breakout out from a higher highs-higher lows chart pattern, and it is continuously sustain above the level of 420 with higher volume and will take the stock higher to levels of 449. It had taken support at the 23.8% Fibonacci retracement level 415.

The RSI has formed a positive reversal indicating higher levels in the coming trading sessions. We recommend traders to take long positions in ALBERTDAVD around 422-424 for the targets of 435-445, with a stop loss below 404.

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Market Commentary:

•Diversified group Raymond on April 3 announced foray into the real estate sector and launched its first housing project in Mumbai with an expected revenue of Rs 3,500 crore.Raymond Realty, the new division of the group, will develop a 14-acre housing project at Thane in Mumbai.

While it’s almost a given that the Reserve Bank of India (RBI) will deliver a policy rate cut when the three-day Monetary Policy Committee meeting ends on April 4, hopes are high that the central bank will also do more to address liquidity concerns.

On March 29, the liquidity deficit widened to a one-month high of Rs 1.13 lakh crore, mostly due to the financial year-end outflows. It is likely to continue to be in deficit owing to the high demand for currency in circulation ahead of the general elections.

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Stock Market Opening Bell 04-Apr-2019: CapitalHeight

CH: OPENING BELL

NIFTY FUTURE DOWN 6 @ 11722

BANK NIFTY FUTURE DOWN 45 @ 30285

SENSEX UP 25 @ 38902

INR @ 68.66

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Bank Nifty Market Trend for 04-Apr-2019:

capitalheight bank nifty updates

CH: OUTLOOK BANK

NIFTY-UP (30021-30910)

NIFTY-UP (11495–11871)

STRATEGY BUY ON DIPS SGX

NIFTY 2DOW 39

ASAIN MKT MIX

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