Index Trends And Stocks In Action July 22, 2015

The Indian Equity market ended with losses of about 0.9% as heavy sell-off in banks and healthcare stocks ruined the mood of investors and traders. Infosys provided some support to the market as it posted better than expected numbers. Technically, index opened flat and showed a promising move in the first hour of trade, however the resistance level of 8650 came into play and index breached its important support of 8550 and filled the gap which was created on 16^th July, 2015. Now going forward index has a strong support around its 21-day EMA which is placed around levels of 8450. On the upside level of 8560 will act as a stiff resistance. 

Unitech: Promoters and Promoter group of Real Estate Firm Unitech have cut their shareholding by 12.93 per cent between April to June, 2015. At the end of March, 2015, the promoter and promoter group had a total shareholding of 45.54% which is now down to 32.61% at the end of June, according to a filing by the company on the Bombay Stock Exchange.

South Indian Bank: The Bank is planning to seek government’s permission for a higher foreign holding limit at 59% compared with the current 49%, while it may issue fresh equity shares to fund growth.

Spice Jet: Budget Carrier Spice Jet, its chairman KalanithiMaran and another top company official have been summoned as accused by a Delhi Court in two tax evasion cases for their alleged failure to deposit over Rs 147 crore TDS with the Income Tax (IT) department.

AurobindoPharma: Hyderabad based AurobindoPharma is the latest addition to an expanding list of Indian Drug firms that have come under the scanner of the US health regulator.