Index Trends And Stocks In Action June 12, 2015

The Indian equity markets ended on dismal note on Thursday, after the bears stormed back to the ring after taking a breather on Wednesday. The end of the day action has formed a Bearish Engulfing candlestick pattern, along with the rise in volume. This suggests that bear’s are in full force and likely to take price lower ahead. Now going forward 7920-7900 is very crucial support areas for the index, once this level is breached on closing basis expect deep correction in the market up to levels of 7840-7730 in the medium term. On the upside the level of 8050 will act as a stiff resistance for the bulls.

BEML: Life Insurance Corp of India has sold 8.41 lakh shares or 2.02 per cent stake in BEML through the open market between 3^rd March and 10^th June, the PSU major informed the exchange. Following the sale, LIC’s stake in BEML is now down to 5.95 per cent.

Unitech: Realty firm Unitech plans to raise about Rs 200 crore from private equity players to part finance its ongoing housing projects as real estate market continues to remain sluggish.

Reliance Industries: Reliance Industries stock will be in focus ahead of its 41^st AGM. The company’s AGM this year is expected to give a clear guideline on its telecom venture (Reliance Jio), which will give more clarity on the company’s marketing plans and how soon the business can start making profits.

Future Retail: Future retail plans to raise fresh funds of up to Rs 1,500 crore through non-converitble debentures (NCDs) on private placement basis to replace high cost loans and to invest in brand building as well as marketing.