Index Trends And Stocks In Action January 15, 2015

The Indian market witnessed a sharp intraday day sell-off owing to heavy selling in the metal stocks. However towards end market did recovered as buying emerged in heavyweights such as Hindustan Unilever and BHEL. Broader market had a listless day and ended soft.  Going forward the range between 8220-8365 becomes the most critical support zone for the day any decisive this support zone would mean the first sign of weakness in market. If bear’s manage to penetrate this support zone next important support would be around levels of 8190. On upside the range between 8335-8375 would act as a strong supply zone for the market. 

The government is planning to raise Rs 8,000 crore through share sale in Indian Oil Corp (BSE Code: 530965), India's largest state-owned refinery, in the current fiscal year ending March. The department of disinvestment, under the ministry of finance, has moved a draft note to the Cabinet Committee on Economic Affairs for selling 10% stake, or 24.27 crore shares, in IOC through the 'offer for sale' route.

In a reprieve for troubled low-cost carrier SpiceJet (BSE Code: 500285), the government has decided to extend the credit period for its dues to state-run Airports Authority of India (AAI) till the end of January, after the airline gives a revival plan with details of fresh investment on Thursday, say senior civil aviation ministry officials.

Tata Consultancy Services (TCS) (BSE Code:532540), the biggest software services exporter in India, will announce its third quarter earnings on Today. Profit after tax of the company is expected to increase 3.9% sequentially to Rs 5,496 crore on revenue of Rs 24,498 crore for the quarter, according to street estimates.

The coal ministry on Today is likely to put on offer about 25 coal blocks with over eight billion tonnes of reserves for state and central government companies that have steel and power plants.