Index Trends And Stocks In Action August 20, 2015

The Indian Equity Market snapped its losing streak on back of bargain buying activities in select heavyweights which were quoting at favorable rates. Healthcare, Consumer Durables and Realty stocks were the top gainers in sectorial indices. Technically, the index opened on flat note and declined sharply soon after opening. However the zone of 8420-8430 acted as a crucial support and saw good recovery from these levels. The Market has been playing in the range of 100 odd points for last four trading session, on the upside the level of 8530 is acting as a strong barrier to cross and on the downside level of 8410 is acting as a good support. Now going forward if index breaches this range either on the upside or downside, we could see a trending move in coming trading sessions. 

Sun Pharmaceutical: Drug major Sun Pharma has received approval from the US health regulator for its new drug application for acne treatment medicine- Ximino TM extended-release capsules. The US Food and Drug Administration (USFDA) have approved the company’s supplemental New Drug Application (sNDA) for Ximino TM (Minocycline HCI) extended-release capsules in strengths of 45 mg, 90 mg and 135 mg.

Reliance Industries, AB Nuvo and Bharti: The RBI has granted ‘in-principle’ approval for setting up payments bank to 11 entities. This out of anoverall of 41 application received by the RBI. Some important players, who have secured the payment bank license, include Reliance Industries, Aditya Birla Nuvo, Airtel M-commerce, and Vodafone other than this some individual like Mr.DilipSanghvi of Sun Pharma. Unlike a routine bank, a payment bank cannot lend money. However, it can collect deposits, allow remittances and provide simple financial products.

Dredging Corporation: The government announced it will sell 5 per cent of its stake in Dredging Corp in an offer for sale as part of its disinvestment programme. The offer will open of 21^st August. The share sale is likely to fetch about Rs 57 crore to its kitty.

Orient Green Power: Orient Green Power intends to raise Rs 250 crore through a preferential issue of shares. The Board of Directors has approved raising Rs 250 crore by way of equity shares on a preferential basis. The existing promoter, SVL formerly known as Shriram Industrial Holding and/or its subsidiaries will subscribe to shares equivalent to Rs 150 crore.