Index Trends And Stocks In Action July 16, 2015

The Indian Equity market ended on buoyant note, with investors and traders indulging in some hectic buying almost right through the session. Declining WPI, Strengthening rupee against the US dollar, lower crude oil prices and positive global cues lifted the sentiments.  The end of the day’s action has formed a Bullish Marubozu candlestick pattern; this indicates a strong uptrend. However, the index is approaching nearer to its major resistance level of 8565, if the index sustains above this level expect a good breakout and nifty will enter into a new zone. On the downside the level of 8480 will act a strong support for the index. If trades below this level with volumes expecta re-test of lower levels around 8430. 

Havells: Electrical Equipment-maker, Havells India is planning to launch solar LED-based lighting products “shortly”. The solar LED lighting system will be based on technology developed by Bengaluru-based Promptec Renewable Energy solutions, a company in which havells acquired a majority stake earlier this year. The LED lighting business accounts for a nearly a third of the company lighting business.

Biocon: Biocon arm Syngene sets IPO prince band at Rs 240-250 per share, issue opens July 27-29.

Eicher: Niche bike maker Royal Enfield said it has sold its entire inventory of 200 units of limited edition motorcycles within 26 minutes of opening of online booking. Royal Enfield, the two-wheeler division of Eicher Motors had unveiled a range of limited edition bikes in month of May.

Thermax: Pune-headquartered Thermax has entered a pact to acquire 33 per cent stake in First Energy private limited an alternative energy solutions company, with an arrangement to increase the sake to 76 per cent in the next four years.

BPCL, IOC & HPCL: Petrol and Diesel prices were slashed by Rs 2 per litre following a sharp fall in global oil prices. But petrol will actually become costlier in the national capital Delhi due to an increase in VAT rate effected by the AamAadmi Party (AAP) government.