Index Trends And Stocks In Action August 18, 2015
Chirag Gothi / 18 Aug 2015
The Indian Equity Market took breather post impressive rally on Friday’s trading session, however the Nifty and Sensex index closed below their important level of 8500 and 28,000 respectively.
The Indian Equity Market took breather post impressive rally on Friday’s trading session, however the Nifty and Sensex index closed below their important level of 8500 and 28,000 respectively. Technically, the Nifty index opened in positive territory, soon after opening there was a sharp decline in the index. However, buying in PSU Bank stocks helped the market to pare some losses and end with minimal losses. Now going forward the Nifty index has strong resistance around levels of 8530 and if manages to sustain above this level expect a re-test of 8600 mark. On the downside strong support for the index stands around levels of 8400 and next crucial support around the level of 8330.
Sun Tv: The government has issued instructions for challenging the order of the Delhi and Madras high courts allowing KalanithiMaran promoted Sun Group to take part in the FM radio Phase III auction.
Cipla: Cipla is in the race for Kremers Urban Pharmaceuticals, the speciality generics drug business of the USD 4 billion Belgian drug maker UCB. Lupin and Torrent Pharma were named as the other two Indian parties that had shown interest but eventually opted out. Kremers sales stood at USD 463 million in the year 2014.
Reliance Communication: Anil Ambani led Rcomhave shortlisted biddersfor stake sale in its tower business. Rcom has net debt to the amount of Rs 39,000 crore and is looking to aggressive sale its assets to pay the debt. The company plans to sell up to 100 per cent stake in its tower subsidiary Reliance Infratel. The company has already been in talks with the American Tower Company (ATC) and Carlyle for selling a majority stake in Reliance Infratel.
Vedanta: Anil Agarwal led natural resources firm Vedanta plans to refinance its debt by issuing non-convertible debentures (NCDs) to the tune of Rs 2,000 crore. The company gross debt is composed of long term loans of Rs 64,825 crore and Rs 14,705 crore for short term working capital. The NCDs are proposed to be listed on the BSE Exchange. Financing the debt at a lower rate will help the company to reduce its finance charges.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.