Index Trends And Stocks In Action January 02, 2015

The Indian market started the New Year 2015 on listless note owing to negative macro-economic data and soft global cues. The broader market continues to outperform the benchmark indices. Index continues to consolidate in narrow range along with low volumes. Technically, as long as index is trading above 8190-8200 mark the bulls will have upper hand. On upside nifty index will face resistance around level of 8310 and 8365. On downside first support stands at 8240 and next support around levels of 8200.

TVS Motor Company’s (BSE Code: 532343) sales in the month of December grew by 20% with total sales clocking at 191,880 units. During the third quarter of the current financial year, sales of TVS Motor grew 26% increasing from 5.19 lakh units recorded in the third quarter ended December 2013 to 6.53 lakh units in the quarter ended December 2014.

Mahindra & Mahindra (BSE Code: 500520) reported 8% decline in total sales at 36,328 units in December. It had sold 39,611 units in the same month previous year. Four-wheel commercial vehicle sales were down by 15% to 12,194 units last month as against 14,399 units in the year-ago month. Sales of passenger vehicles including Scorpio, XUV 500, Xylo, Bolero and Verito up by 5%. M&M reported 27% decline in total tractor sales at 12,474 units in December.

Mergers and acquisitions of PSU banks will be a major theme at the two-day 'Gyan Sangam' on January 2-3, where chiefs of banks will hold deliberations with the Prime Minister, Finance Minister and the RBI Governor. There are 27 public sector banks, including five SBI associates.

Spice Mobility (BSE Code: 517214) will remain in focus at the bourses, as its board of directors meets on Friday to consider a proposal from its promoter to voluntarily delist the equity shares of the firm from the NSE and the BSE.