Index Trends And Stocks In Action December 16, 2014

The Indian markets pared early morning losses and managed to end on flat note. Global cues and positive macro data helped market to recover from bearish sentiment. Technically, index has attained our short term target of 8170 which is approximately 50 percent retracement level of last rise from previous swing low of 7723. On daily chart nifty has formed bullish counterattack line, this is a two candlestick pattern that occurs after a downtrend and is considered a bottom reversal signal. Index seems in pullback mode after touching 50 percent retracement support and on pullback first resistance for index is placed at 8280 and next at 8335. On downside 8150 would act as a crucial support.

Ramky Infrastructure (BSE Code: 533262) plans to sell road assets and a 1,200 acre land parcel on the outskirts of the city to retire its Rs 1,400 crore debt by March 31, 2015. At present the company’s focus is on repaying the debt of Rs 1,400 crore and become a zero debt company.

Motherson Sumi Systems (BSE Code: 517334) will acquire Germany's Scherer & Trier in a deal worth Rs 283 crore, a move that will help the company to offer diverse polymer products. The consideration payable is about 36 million euros (about Rs 283 crore) for the assets including land, building and inventories along with its shareholding in Mexican entities. This acquisition includes two manufacturing facilities situated at Michelau (Germany) and Puebla (Mexico).

Reliance Capital (BSE Code: 500111) has agreed to sell the multiplex business of Reliance MediaWorks (RMW) to Carnival Cinemas for Rs 700 crore, signalling further consolidation in the Indian cinema exhibition space.