Index Trend And Stocks In Action November 18, 2015

The Indian market continued its upward journey for the second consecutive session, registering a gain of around half a per cent. The nifty index made an attempt to cross its strong resistance level of 7845-7865, but if failed to do as profit taking was seen at higher levels. Now going forward fresh momentum is expected only if the index manages to cross the hurdle of 7850-7870 on the upside. The level of 7770 will act as immediate support for the index. Fresh down move is expected if the index breach level of 7770 decisively which may then take it down to levels of 7700.

Piramal Enterprises: Piramal Healthcare UK Ltd has invested £2.0 million into Scotland to expand its manufacturing base of Antibody Drug Conjugates to global markets.

Jet airways, InterGlobe and Spicejet: Clamping down on unfair business practices in the aviation sector, Competition Commission slapped penalties totalling Rs 258 crore on Jet Airways, InterGlobe and Spice Jet for cartelisation in fixing fuel surcharge for transporting cargo. Penalty of Rs 151.69 crore has been imposed on Jet Airways, the fines slapped on InterGlobe and Spicejet are Rs 63.74 crore and Rs 42.48 crore respectively.

Persistent System: Persistent System's has announced that it has completed the acquisition of the digital content management solutions business of US-based Akumina. Persistent's Venture Captial arm also announced an investment of USD 250,000 in Akumina's product portfolio.

Pipavav Defence: Reserve Bank of India (RBI) allowed foreign investors to raise their investment in Pipavav defence and offshore engineering.

Raymond: Suiting fabric maker Raymond said it has infused Rs 61.68 crore in Raymond Luxury Cottons (RLCL) by subscribing to equity shares.

Essar Port: Promoters of Essar Ports will acquire shares worth over Rs 1,047 crore from public shareholders at a price of Rs 133 apiece as a part of the delisting process.