Index Trend And Stocks In Action December 28, 2015

Indian markets ended on a muted note as investors and traders chose to remain on the side-lines ahead of the long weekend. On the daily time frame chart, the index has formed a potential ‘Hanging Man’ and this candlestick pattern acts as a reversal pattern after an uptrend. The 7820-7830 region is the crucial support zone for the index and once this region is taken out, fresh shorts are likely to build up. On the upside, 7890-7900 will act as a stiff resistance for the index and if index manages to sustain above this level, expect fresh momentum up to levels of 7940-7970. 

Future Consumer Enterprises: Future Group’s food firm- Future Consumer Enterprise said it plans to raise around Rs 368 crore from promoters and PE fund Black River Food 2 Pte Ltd to finance its various expansion plans and business initiatives.

Tube Investment: Murugappa Group Company Tube investment will sell 14 per cent of Cholamandalam MS General Insurance to its joint venture partner Mitsui Sumitomo Insurance Company of Japan for Rs 882.67 crore, informed by the company to the Bombay Stock Exchange.

Lyka Labs: Meeting of Board of Directors of Lyka Labs will be held on 28th December, 2015, to riase funds by issue of securities and take necessary action in this regard.

Max India: The Company has got High Court approval for restructuring and the company’s demerger into three separate listed entities will be effective from January.

KEI Industries: Cable maker KEI industries have informed that it has bagged an order worth Rs 384.53 crore from Power Grid Corporation of India.

Allcargo Logistics: The Company has announced that the company has fixed record date as 31st December, 2015 for determining the entitlement of the shareholders for the issue of Bonus shares in the ratio of 1:1 i.e. one equity share of Rs 2 each fully paid for every one equity share of Rs 2 each full paid.

Reliance Industries: Reliance announced the launch of Reliance Jio 4G services for use by over 1 lakh Reliance employees and their families across India.

Jaiprakash Associates: Aditya Birla flagship UltraTech, Dalmia Bharat backed by private equity investor KKR and Shree Cement are among prospects approached to take over the Japee Group’s cement business.