Index Trends And Stocks In Action December 12, 2014
Chirag Gothi / 12 Dec 2014
The Indian markets ended below important psychological mark of 8300. Selling was witness in Information Technology, Realty, Auto and PSU stocks. Pharma stocks showed some resilience today and supported the nifty index to certain extent. Technically, the nifty is hovering around its important support as defined by its 50-day EMA.
The Indian markets ended below important psychological mark of 8300. Selling was witness in Information Technology, Realty, Auto and PSU stocks. Pharma stocks showed some resilience today and supported the nifty index to certain extent. Technically, the nifty is hovering around its important support as defined by its 50-day EMA. If index manages to breach this important support of 8260 i.e. 50-day EMA support than it’s likely to touch level of 8170 in short term. Any pullback rallies could find resistance at 8330 and 8380.
Tata Chemicals (BSE Code: 500770) is expected to invest around Rs 150 crore into setting up a nutraceuticals manufacturing facility in Sriperumbudur, near Chennai in next three years. The company is expecting its branded and non-commodity business, which is currently at 22% of the turnover, to up to 50% in next seven years.
Maytas Infra Saudi Arabia (MISA), a subsidiary of IL&FS Engineering and Construction Company (BSE Code: 532907) has received Rs 464 crore contract from Saudi Binladin Group for construction of Abraj Kudai project in Makkah in Kingdom of Saudi Arabia (KSA). The project is to be completed within 32 months and the scope of work involves supply, delivery, installation and handing over of structural and reinforcement concrete works for two towers each 230 meters in height.
OnMobile Global’s (BSE Code: 532944) board approves buy back of equity shares of Rs 10 each - Price not exceeding Rs 86 per share for an aggregate amount not exceeding Rs 49 crore.
Tata Power Co. (BSE Code: 500400) signed a memorandum of understanding (MoU) with Russian direct investment fund (RDIF) to develop investment opportunities in the energy sector. RDIF and Tata Power will cooperate on identifying and targeting investment opportunities in the energy sector across Russia.
Aurobindo Pharma (BSE Code: 524804) board approves raising funds via QIP worth of USD 350 million.
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