Index Trends And Stocks In Action July 17, 2015

The Indian Equity market ended its rally for the second consecutive trading session. The cabinet’s approval; to merge the limits of foreign direct and portfolio investments into composite caps lifted sentiments. Technically, the index has formed another bullish candlestick with good volumes; this indicates momentum is likely to be in favor of the bulls. Now going forward the index has a strong barrier on the upside around the level of 8635, if sustains above this level expect rally up to levels of 8680. On the downside important support for the index is placed around level of 8550.

Tata Steel: Tata Steel may cut 720 jobs in its speciality steel business as low-priced imports from China and high production costs impact its ability to compete in the cut-throat UK market. Most of the jobs will be slashed at the company’s Rotherham, northern England plant.

Tata Motors: Auto major Tata motors has proposed to raise Rs 4,400 crore from Non-Convertible Debentures (NCDs) during the current fiscal to meet its expansion plan. In a separate report, the auto maker reported it has sold 76,602 Y-o-Y vehicles worldwide, these figures include sales from Jaguar Land Rover (JLR) and other subsidiaries. Global Sales of all passenger vehicles during the month expanded 3% to 45,519 units.

Spice Jet: SpiceJet reported the highest load factors of 93.2% during the month of June on the back of its discount offering followed by IndiGo that stands at 86.6%, as per passenger data for June relased by DGCA.

Asian Paints: Leading paints manufacturer Asian Paints, which is setting up Rs 1,700 croreplant in Andhra Pradesh, it is now considering setting up another facility in Karnataka. The company is in discussion with Karntaka government regarding issues and modalities as land and other regulatory clearances.