Index Trends And Stocks In Action July 03, 2015

The Indian Market ended lower on Thursday, in spite of a fairly good spell in positive terrain in morning trade. In absence of any cues market consolidated in a tight range. Technically, the index opened with a positive bias and later on it moved in a tight band of 8430 and 8480 for the entire trading session. Now going forward major barrier for the index is around the level of 8500, once the index manages to sustain above this level expect movement up to levels of 8535. On the downside, if index breaks their important support levels of 8420-8430 expect a correction up to levels of 8370.

Lupin:  Pharmaceuticals Company Lupin announced the acquisition of 100% equity stake in ZAO Biocom in Russia for an undisclosed amount. The acquisition marks Lupin’s foray into Russia’s pharmaceutical sector that recorded RUB 765 billion in sales.

Bajaj Auto: Bajaj Auto reported its first double-digit growth in the current fiscal with a 10% YoY rise in motorcycle sales in June. The first two months of FY16 saw sales falling but the company recovered to post growth in June. Bajaj’s motorcycle sales rose 10% to 2.87 lakh units in June compared with 2.62 lakh units sold in June last year.

Caplin Point Laboratories: Caplin Point Laboratories has been selected under Forbes Asia’s “200 Best under a Billion” for 2015. The company has been selected for the second consecutive year. The list has been published in the magazine’s July 2015 edition. Forbes Asia has selected 200 best performing companies, with revenues of less than a billion, from a list of 17000 public listed companies across the Asia-Pacific.  

Rajesh Exports: Gold Jeweller maker Rajesh Exports has informed BSE that the Board of Directors of the Company at its meeting held 2^nd July,2015, have approved to make acquisitions in Europe in the range of USD 250 million to USD 500 million.