Index Trend And Stocks In Action November 27, 2015

The Indian market surged higher on the November F&O series expiry by rallying over half a per cent. The Sentiment remained up-beat since the start and gain from strength to strength as investors and traders indulge in value buying. On the daily chart the index has formed a Bullish candle with no lower wick, which suggests that buyers dominated the session. Now going forward levels of 7900-7920 are a key resistance zone and if the index manages to sustain above this zone it will open up for levels of 7980 and 8035. On the downside 7810 is an immediate support for the index and major support around 7760.

Polaris Consulting & Services: Capital Market regulator SEBI has ordered impounding of alleged ‘unlawful gains’ of over Rs 2 crore from Polari’s promoter Arun Jain and its former CFO R Srikanth after finding them guilty in an insider trading case.

Ashok Leyland: Hinduja Group flagship company Ashok Leyland has received an order worth USD 200 million from the West African country Cote D’lvoire for the supply of 3,600 trucks and buses.

Fortis Healthcare: The Company said one of its subsidiaries has entered into an agreement with RGAM Investment Advisors and other stakeholders to fully acquire Religare Health Trust Trustee Manager Pte Ltd for $14.9 million.

Edelweiss Financial Services: Domestic financial services major Edelweiss Group has tied up with UK-based Sun Global Investments to offer full service solutions in rupee fixed income markets-primary and secondary-as well as US dollar denominated Indian debt across UK, Europe and Asia.

Pipavav Defence & Offshore Engineering: Pipavav Defence & Offshore Engineering plans to exit the corporate debt restricting (CDR) package, post Reliance Infrastructure open offer. Reliance Infrastructure would begin the Rs 1,263 crore open offer to acquire additional 26 per cent stake in Pipava Defence on 2^nd December, 2015. The open offer will close on 15^th December, 2015.