Index Trends And Stocks In Action December 31, 2014

The Indian market ended flat on Tuesday after a lackluster trading session, as traders and investors largely refrained from making major moves due to weak trend in global market. The broader market outperformed benchmark indices. Technically, index failed to clear its supply zone of 8270-8365. Fresh buying will only emerge if index clear this supply zone. Going forward market is expected to remain listless as volume is shirking. On downside 8200 level is crucial support for index. If bulls fail to defend this support level next important level is 8152.

Zuari group plans to spend Rs 398.2 crore to buy up to 36.56% stake in MCFL (BSE Code: 530011), about 10% more stake than its earlier offer. Zuari group has been competing with Deepak Fertilisers for taking control of the Mangalore Chemicals and Fertilisers (MCFL), since July last year. At present, UB group has 21.97% stake in MCFL, while Zuari group and Deepak Fertilisers have 16.47% and 31.25% stakes respectively, in the MCFL.

Drug firm Lupin (BSE Code: 500257) has received tentative approval from the US health regulator to market a generic version of Prezista tablets, used in treating HIV infection.

Drug firms Wockhardt (BSE Code: 532300), Cadila Healthcare (BSE Code: 532321) and Hospira are voluntarily recalling certain lots of drugs in the US, according to the US Food and Drug Administration (USFDA). Wockhardt USA Inc, the US-based arm of the company, is recalling 11,18,400 Metoprolol Succinate extended-release tablets, a hypertension drug, for 'failed dissolution specifications'. Cadila Healthcare is recalling 58,920 bottles of Benzonatate Capsules, used to treat coughs, due to "wet and/or leaking capsules".