Index Trends And Stocks In Action December 29, 2014

The Indian market exhibited lackluster movement for a major part of the day, PSU banks and Information technology shares lifted the mood of traders and investors.  On daily chart index has formed a doji candlestick pattern this candlestick reflects indecisiveness between bulls and bears. Index halted its up move around 61.8 percent retracement levels from 8627 to 7961 and from there it has entered into correction and consolidation phase. Going forward index if sustains below 8140 level with volumes will open up for correction up to levels of 8100-8050. On upside 8240 and 8300 will act as strong resistance for the bulls.  

Lupin (BSE Code: 500257) eyes acquisitions in US, Europe. During the last fiscal, global markets (excluding India) accounted for around 75% of the total revenues of the company. The company is looking at ramping up and building presence in Europe specifically markets such as Russia and parts of Eastern Europe by FY16.

A meeting of the Board of Directors of Prima Plastics (BSE Code: 530589) will be held on January 06, 2015, to discuss & approve the sale of Plant & Machinery of ACP Unit. Which is positive development, company can purely concentrate on its core business, and ACP division contribute only 6% of total revenue which is very less and also its loss making. Therefore going forward margin will improve in FY16.

The state-owned power equipment maker BHEL (BSE Code: 500103), which is facing headwinds in the domestic market, is now seeking business opportunities in Mozambique and Laos. Geographical diversification is a strategic focus area for BHEL, which already has presence in about 76 countries. BHEL offers more than 180 products as well as systems and services in diverse areas including power, transmission, industry, transportation, oil and gas, and telecommunication.