Index Trends And Stocks In Action March 31, 2015

Indian benchmark indices ended on an upbeat note on Monday, lifted by strong sentiments in global market. Capital goods, Realty, Automobiles, FMCG, Metal and Power stocks posted strong gains.  Nifty index in today session opened with a gap up and posted a higher top higher bottom pattern on 30-Min intraday chart. Nifty index posted a strong gains and wiped out losses of two trading session in a single day, but the volume were below average. Technically index has strong resistance around levels of 8545 and if market sustains above this level nifty could head up to levels of 8600. On downside 8450 and 8380 are two crucial supports. 

The finance committee of the Century Textile (BSE Code: 500040) board of directors has allotted 8.47 million shares to the promoter companies this has resulted in increase in the stake of Kumar Managalam Birla family round about 8% in the company. The promoters currently own 40% stake in the company and the promoter companies were allotted warrants on preferential basis in June 2014 and had paid 25% of the subscription money.

The commercial vehicle major Ashok Leyland (BSE Code: 500477) as part of its restructuring plan has divested its entire stake in company’s Czech Republic subsidiary Avia Ashok Leyland. The company made cash realization of 10.96 million.

Tiger Global Management has sold its 3.4 per cent stake in Justdial (BSE Code: 535648) for Rs 300 crore, according to NSE bulk deal data, reducing its holding in one of its earliest portfolio firms in the country to about 9%.