Index Trends And Stocks In Action For July 15, 2014

Indian Equity market ended flat on Monday with investors and traders refraining from making significant moves. Global cues were positive and India’s Wholesale price index based inflation declined to a four month low, but these did not prompt traders to go on any aggressive buying in the market. Going forward important support for Nifty is around levels of 7420 and next important support around 7370. On upside resistance for Nifty is around levels of 7480-7515.

Larsen & Toubro (BSE Code:500510) has bagged an order worth Kuwaiti Dinar 239.7 million (around Rs 5,076 crore) from the Kuwait Oil Company. L&T arm , L&T Hydrocarbon, will execute the order that entails engineer-procure-construct work for a gathering centre for KOC, a subsidiary of Kuwait Petroleum Corporation and fully owned by the State of Kuwait. The stock may trade with a positive bias in today’s trade.

The government has slapped an additional penalty of USD 579 million on Reliance Industries (BSE Code: 500325) for producing less than targeted natural gas from its KG-D6 block. With this, the total penalty on RILfor missing the target in four fiscal years beginning April 1, 2010 now stands at a cumulative USD 2.376 billion. The stock may witness volatile trades in today’s session. 

OCL India (BSE Code: 502165), an associate of Dalmia Cement Bharat, on Monday commissioned its Rs 615 crore cement manufacturing unit in West Midnapore, West Bengal. Spread over 154.43 acres, the unit is built on the West Bengal Industrial Development Corporation established Godapiasal Industrial Park. This is OCL India's first unit in the state. In addition to the Bengal unit, the company has cement plants at Cuttack and Rajgangpur in Odisha with a combined production capacity of 5.35 MTPA. The stock may remain in focus in today’s trade.