Index Trend And Stocks In Action November 30, 2015
Chirag Gothi / 30 Nov 2015
The Indian market started the December F&O series on a cheerful note, with index rallying over half a per cent and sustaining above its important psychological level of 7900. After a strong consolidation around levels of 7810 the market has rallied past 7900 on the hopes of passage of GST bill in the Winter Session of Parliament.
The Indian market started the December F&O series on a cheerful note, with index rallying over half a per cent and sustaining above its important psychological level of 7900. After a strong consolidation around levels of 7810 the market has rallied past 7900 on the hopes of passage of Good & Service Tax (GST) bill in the Winter Session of Parliament. The coming week is likely to be action pack as number of events are lined up to start with the macroeconomic data; the government will release India’s gross domestic product (GDP) data for Q2 September 2015 on 30th November, 2015, followed by the Reserve Bank of India (RBI) fifth bi-monthly policy decision on Tuesday. On the Technical front the region of 7980-8045 is likely to offer some resistance and once this region is take out, fresh momentum is likely and the index may then rally up to levels of 8100-8130. On the flip side the level of 7880 may now be considered as a good support region and decisive breach of this support zone could lead to re-test of the earlier supports i.e. 7800-7765.
United Breweries (Holding): Capital markets regulator SEBI has slapped a fined of Rs 15 lakh on United Breweries (Holding) for not making disclosures regarding creation and invocation of certain pledge transactions in shares of United Spirits.
Maruti Suzuki: India’s largest carmaker Maruti Suzuki, which aims to increase its annual sales to about 2 million units by 2020, will invest Rs 15,000 crore over the next five years in procuring land for doubling its dealership network and expanding stockyard, warehouse and transportation infrastructure.
PVR: Multiplex chain operator PVR expects to add at least 23 screens in the current fiscal year to take the total to 500 in the same fiscal.
Monnet Ispat: A group of lenders to Monnet Ispat have decided to convert their unsecured loans into shares, a move that will give the creditors a majority stake in the steelmaker. The lenders will convert outstanding debt of Rs 367.79 crore for a 51 per cent stake, Delhi-based Monnet said in BSE filing.
Nestle: The Company which is facing a fresh dispute over its pasta products after Maggi noodles, questioned the validity of lab test done by the UP government saying it was neither “NABL neither accredited” nor “notified by FSSAI”.
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