Index Trends And Stocks In Action March 9, 2015

The Indian Equity market ended with marginal gains on Thursday amid highly volatile session. Traders and investors remained caution ahead of long weekend. Nifty on daily chart has formed a potential doji candlestick pattern. Now going forward important support for nifty is in range of 8840-8880, if bulls manage to hold on to this support expert continuation of uptrend. On downside if 8840 support is taken out expect a correction up to levels of 8770-8710. 

Suzlon Energy (BSE Code: 532667), the debt-laden wind-turbine manufacturer, is keen to sell its forging and foundry company, in which it invested Rs 1000 crore, and component units and office complexes worth about Rs 1000 crore as it exits non-core areas and continues its fund-raising drive.

In another revenue bonanza from the ongoing auction of coal mines, the government on Sunday garnered Rs 5164 crore from sale of two more mines to Jaypee Cement and Ambuja Cements (BSE Code: 500425) with cumulative proceeds surging to Rs 1.57 lakh crore. The auction for Ganeshpur mine in Jharkhand, which is meant for power sector, is still on.

State-owned mining and construction equipment manufacturer BEML (BSE Code: 500048) rolled out the country's first Electric Drive Rear Dump Truck for large-scale coal mining applications. The indigenously designed and developed equipment was rolled out at a function held at BEML's Mysuru complex by G Mohan Kumar, Secretary (Defence Production), Ministry of Defence, in the presence of P Dwarakanath, CMD, Directors, executives and employees of the company.