Index Trends And Stocks In Action September 09, 2015

The Indian Markets started the session on a subdued note, oscillating between gains and losses. However, in afternoon session sentiments turned bullish as Chinese Market staged a smart recovery and Prime Minister Narendra Modi in a meeting with the corporate leaders asked to increase risk-taking appetite and step up investment. On the daily chart the index has formed a potential Bullish Engulfing candlestick pattern, which suggests a counter attack of bulls from the lower levels.  Now going forward index needs to sustain above levels of 7730 for further up-move. If it manages to sustain above level of 7730, expect a rally up to levels of 7800. On the downside the level of 7500 is crucial support for the bulls. We expect the market to trade in range and major cues will come in from the FED policy and the outcome of FED meeting could dictate the trend of market ahead.

Hinustan Unilever: Hindustan Unilever will sell its bread and bakery business under the Brand Modern to Nimman Foods a company backed by Singapore based venture capital and private equity firm Everstone Group, for an undisclosed amount. The sale is in line with HUL’s strategy to exit its non-core business.

IVRCL: Infrastructure major IVRCL plans to raise Rs 500 crore through the Qualified Institutional Placement (QIP) route during the financial year to meet working capital requirements. The company is also in the process of ‘proactively’ exploring the monetisation of assets and reducing subsidiaries.

Navkar Corportion: Navkar Corporation is a container freight station (CFS) operator with three CFSs all located in Maharashtra’s Panvel at the JN Port, Navi Mumbai will debut on bourses today. The logistics firm’s Rs 600 crore initial public offer (IPO) was over-subscribed 2.75 times.

GVK Power and Infrastructure: GVK Power and Infrastructure’s promoter G V Sanjay Reddy has transferred shares worth Rs 57 crore to another promoter group entity Vertex Projects LLP. These shares have been transferred at a price of Rs 7.15 a piece, valuing the transaction at over Rs 57 crore.