Index Trend And Stocks In Action December 30, 2015
Chirag Gothi / 30 Dec 2015
The Indian markets opened on a flat note and made an attempt to move higher in the early part of the trading session. However, it faced resistance at higher levels and slipped into sideways movement for the most part of the day, at the end it did manage to close with modest gains.
The Indian markets opened on a flat note and made an attempt to move higher in the early part of the trading session. However, it faced resistance at higher levels and slipped into sideways movement for the most part of the day, at the end it did manage to close with modest gains. On the daily time frame chart the index has formed a Classical doji candlestick pattern, which indicates indecisiveness among the traders at higher levels. The zone of 7900-7910 will act as an immediate and important support for the index. On the higher side, level of 7970 will act as an immediate resistance and fresh momentum may be expected if this level is decisively crossed. A close below levels of 7900 will open gates for correction up to levels of 7850-7830.
Amtek Auto: The Securities and Exchange Board of India (SEBI) imposed a penalty of Rs 5 lakh on Amtek Auto for failing to redress investors' grievances. Capital market regulator SEBI in an order said that company has resolved only one out of three investor complaints pending against it.
Indian Hotels: Reliance Mutual Fund has hiked stake in Tatas-run India Hotels to nearly 8 per cent.
Zuari Agro Chemicals: The Company said its board has sanctioned merger of its three wholly-owned subsidiaries into the company in order to streamline the group structure and achieve synergies in operations.
Spice Jet: Indian’s favourite low cost airline has said its shareholders have approved a proposal to raise funds worth up to Rs 5,000 crore.
IDIBI Bank: The Bank has informed that the government has infused Rs 2,229 crore into the public sector lender in lieu of preferential allotment of shares.
Bosch: Bosch plans to suspend all production activity at its Bengaluru and Bidadi plants for two days from 30th December, 2015 in order to adjust to the market demand.
Bharti Airtel: Bharti Airtel has bought a 74 per cent stake in Augere Wireless Broadband India, consolidating its 4G footprint ahead of the launch of similar high speed broadband services by Reliance Jio Infocomm.
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