Index Trends And Stocks In Action January 14, 2015

The Indian market after rallying for three consecutive trading sessions, took a breather amid profit-taking in heavyweight like Hindustan Unilever, Infosys and ONGC. The broader market ended with losses. If we look at the pattern the five day pattern it is a higher top higher bottom formation, this is a positive pattern. However on upside market is facing strong supply around the gap levels which was created on 6^th January, 2015. Going forward important support for nifty is in range of 8250-8190. On upside 8360-8380 will act as strong resistance zone.

Novartis (BSE Code: 500672) will sell its Over-The-Counter Division (OTC Division) of Indian arm to GlaxoSmithKline Consumer Private Ltd, Indian entity of UK-based GlaxoSmithKline Ltd, under the agreement for business transferring between Novartis and GlaxoSmithKline signed last year. On Tuesday, the Board of Directors of Novartis India, has approved the transfer of its OTC Division to GlaxoSmithKline Consumer Private Ltd.

Tata Coffee (BSE Code: 532301) has fixed January 27 as the record date for the purpose of sub-division of its equity shares from the face value of Rs 10 a share to Rs 1 a share.

Ashoka Buildcon (BSE Code: 533271) has received the Letter of Acceptance (LoA) from the National Highways Authority of India for a project involving collection of user fee through a fee collecting agency on the basis of competitive bidding at Kognoli Toll Plaza of NH - 4 in Karnataka. The estimated value of the contract is Rs 38.14 crore. The consortium has been engaged by NHAI to collect user fee for a period of one year.

Tata Motors (BSE Code: 500570) has posted an 8% surge in global wholesales in December 2014 over year-ago numbers. Sales of Jaguar Land Rover witnessed a growth of 7% over December 2013. Cumulative wholesales of JLR for this fiscal have shown a growth of 10%. However, the company has reported a 5% fall in cumulative wholesales for this fiscal over the last.