Index Trends And Stocks In Action August 14, 2015

The Indian Equity Market halted its losing streak with the Sensex and Nifty closing with modest gains amid highly volatile trading session. Technically, the index opened with a gap and started moving northward soon after opening. However, the bulls took pause and later slipped to fill the opening gap. Now going forward the index has a strong support around levels of 8280-8315, only if the index slips below this support zone, we can expect a further correction up to levels of 8200 in the short term. On the upside the range of 8410-8440 is a strong barrier for the index, if manages to breakout above this barrier expect a rally up to levels of 8550 in the short term.

Hathway Cable: Raheja Group-promoted Hathway Cable and Datacom has received FIPB approval to increase foreign investment limit in the firm from the current 49 per cent to 74 per cent under the automatic path.

Natco Pharma: Natco Pharma gets FIPB approval to raise FII cap to 31.5 per cent from 24 per cent

GVK Power and Infrastructure: Company is taking measure to reduce its debt to the tune of Rs 4,000 crore by the end of this financial year. The company is exploring various options, ranging from private placement to an initial public offering.

GMR Infrastructure: Company has commenced operation of its 370 megawatt gas based project at Vemangiri in Andhra Pradesh. The project, under the government scheme for stranded gas based power plants, is reportedly operating at 95 per cent plant load factor.

Jaiprakash Associates: Rating firm Credit Analysis and Research (CARE) has downgraded debt-burden Jaypee Group controlled Jaiprakash Associate total bank loans and long-term non-convertible debenture to D or default status.

Glenmark and Indiabulls Housing: Glenmark Pharmaceuticals will be included to the MSCI Emerging Markets index.  Indiabulls Housing Finance will be included to MSCI ACWI Value Index.

Tata Motors: Tata Motors July JLR Retail Sales down 3 per cent at 33,239 (YoY)