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Tuesday, 30 September 2014

BSE Sensex, Nifty hold gains; ADAG stocks in focus

1:30 pm Buzzing: Shares of PC Jeweller surged 9 percent intraday on Tuesday as it expands its footprints into the e-tailing space. The Delhi-based jewellery company joined e-commerce major Flipkart to create a platform for online jewellery shopping.

The focus will be on the replicating the comfort, convenience and brilliance that is associated with shopping at the jewellery retailer's large format showroom online on Flipkart, it said.

"We are focussed on our online jewellery brand WearYourShine by PC Jeweller and going forward, we would also like to work with Flipkart towards creating a seamless offline-online integration wherein customers get a flexibility to buy online and exchange or return offline across over 46 showrooms of PC Jeweller, it said

PC Jeweller sees online jewellery sales becoming a huge market in the next few years, contributing a good share to their business.

The market stages a smart recovery after the RBI maintains status quo on rates. The Sensex is up 195.12 points at 26792.23 and the Nifty is up 54.80 points at 8013.70. About 1611 shares have advanced, 984 shares declined, and 103 shares are unchanged.

Midcaps outperformed for the second straight day. HDFC, Sun Pharma, Sesa Sterlite, Bajaj Auto and ONGC are top gainers. On the losing side are Axis Bank, TCS, Infosys, HUL and ICICI Bank.

The central bank kept the repo rate and CRR unchanged and retains FY 15 GDP growth target at 5.5 percent. The Reserve Bank says inflation will ease to 6 percent by November but may climb back to 8 percent by January-March 2015. Governor Rajan says inflation readings are expected to be better on better-than-expected monsoon this year.

 The ADAG stocks are in focus today as AGM for all the group companies is underway. Chairman Anil Ambani says Reliance Capital is looking to focus on the health insurance business a plans to make it a separate entity in future. More information please visit this site

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