Index Trends And Stocks In Action For July 04, 2014

Indian Equity market took a breather on account of profit after hitting fresh life time high in early trades. Defensive sectors like the Pharma and the FMCG stocks were back in demand and ended with smart gains. The index after gathering good momentum on Wednesday, took a pause as there no major trigger in market. Now going forward Nifty index needs to cross hurdle of 7755-7770, if Nifty index manages to trade above this zone than its likely to touch level of 7900 in short term. On downside as long as Nifty holds on to support zone of 7635-7655 the bullishness is likely to stay.

Idea Cellular (BSE Code: 532822) has entered into a tri-party agreement with Opera Software and Quikr to offer sponsored mobile data through sponsored web passes to its more than 137 million subscribers. The partnership is aimed at enabling more Indians get online and experience the power of the internet on their mobile phones. A web pass is an alternative to monthly data plans for consumers who do not require full-time internet access. This solution provides affordable internet packages, tailor-made to enable internet access for particular timelines or websites, such as Facebook access for a day or internet access for an hour at just Re. 1. The stock may remain in focus in today’s trade.

Alstom T&D India (BSE Code: 522275) has bagged a contract worth Rs 27.7 crore from Himachal Pradesh Power Transmission Company to supply a 66 kV gas-insulated substation (GIS) for evacuating power from new generation sources to Kinnar district in the state. The scope of the contract includes
design, engineering, manufacture, supply, testing, and commissioning of the 66 kV GIS, substation automation and control system. All equipment will be produced by Alstom's state-of-the- art manufacturing facilities across India. The stock may remain in limelight in today’s trade.

Glenmark Pharmaceuticals (BSE Code: 532296) said its new molecule for potential treatment of autoimmune diseases is entering human trials. Glenmark Pharmaceuticals S.A., a wholly owned Swiss subsidiary of Glenmark Pharmaceuticals, said GBR 830 - a novel monoclonal antibody - is entering human trials. The stock may trade with a positive bias in today’s trade.

Apollo Hospitals Enterprises (BSE Code: 508869) announced reorganisation to drive next wave of growth. Prathap C Reddy, Founder Chairman, Apollo Hospitals credits this rejig to the work done throughout the year, adding that the ownership in their hospitals will be divided equally. In a major rejig at its top level, Prathap Reddy says that his daughter Preetha Reddy is most likely to succeed him as the Chairman at Apollo. The stock may remain in action in today’s trade.