Index Trends And Stocks In Action February 25, 2015

The Indian markets ended with marginally higher after a highly volatile ride on Tuesday session. The broader market underperformed the benchmark indices. Nifty index managed to hold on to its important support of 8720 as defined by 20-day EMA. Going forward if nifty index trades below 8720 level then traders may see fresh build up in short position, which could lead nifty to levels of 8650 followed by 8600 level. If nifty manages to hold on to its support expect a pullback rally up to levels of 8790 and 8845.

India and Southeast Asia focused private equity fund Creador Advisors has acquired 3.2 per cent stake in PC Jeweller (BSE Code: 534809) for Rs 143 crore or USD 23 million and will raise its stake to 3.5 per cent by investing another Rs 12.4 crore or USD 2 million, as per the media reports.

Dewan Housing Finance Corporation (BSE Code: 511072) is raising as much as USD 130 million through sale of shares to portfolio investors, according to one of news agency. The company, which is seeking a license for small finance bank from Reserve Bank of India, is offering the shares in the indicative price band of Rs 478.18 to Rs 488.25 a share, as per the media reports.

The promoters of cash strapped ABG Shipyard (BSE Code: 532682) is in discussions with domestic and foreign companies to sell a strategic stake in their flagship listed entity. According to multiple investment banking sources involved, Mahindra Group, Adani and a few foreign players, include some from Singapore, have been approached.