Market mantra: Positive start

It’s an F&O expiry week and the usual volatility associated is more or less expected. Speculation remains on whether the ‘Septaper’ will happen; in other words whether the Federal Reserve will pull back on asset purchases in September.

1. Reliance Industries Ltd and its partner, BP, announced a new gas condensate discovery off the east coast. (BS)

2. Jindal Steel and Power Ltd has acquired a majority stake in Gujarat NRE Coking Coal, the Australian subsidiary of Gujarat NRE Coke, which would enable it to secure resource supply and minimise risk in prices. (BS)

3. Maruti Suzuki India Ltd, would decide on its investments plan for a third facility in Gujarat at a board meeting next week, amid a sales slump in the home market. (BS)

4. ONGC has decided to go ahead on its own to develop its deep-sea block in the Krishna Godavari Basin, as its over-a-year-long hunt for a suitable partner has yielded no results. (BL)

5. ONGC Videsh Ltd is set to buy US energy major Anadarko Corp’s 10% stake in a Mozambique gas field for US$2.6bn this week. (BL)

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