Index trend and stocks in action January 15, 2016

The Indian markets had opened on a negative note, following weak cues from the Asian markets; and fall in the crude oil prices, which slipped below $30 per barrel. However, IT bellwether Infosys surprised D-street as third quarter earnings beat analyst expectations, aiding swift recovery in the market. But in the last one hour market shed most of the gains and ended with losses of half a per cent. In the past four trading sessions index had made several attempts to cross its hurdle of 7610, but failed to sustain above this level. Now going forward Nifty needs to cross level of 7610 for further momentum on the upside. On the downside, level of 7480 is an immediate support; and major support is around level of 7425. A decisive move below levels of 7425 will open more avenues for a downside in the near term.

Rcom: ADAG group lead Reliance Communication has informed it had received a go-ahead from the stock exchanges to acquire Sistema Shyam Teleservices which operates under the MTS brand.

Idea Cellular: Idea Cellular announced the launch of its high speed 4G LTE services across four more states- Punjab, Haryana, Madhya Pradesh and Chhattisgarh. With this launch the company has expanded its 4G LTE services to 7 telecom service areas.

Cadila Healthcare: The Government has sanctioned five foreign investment proposals involving an inflow of Rs 6,050 crore including an Rs 5,000 crore plan of Cadila Healthcare for fresh equity infusion. Cadila will infuse equity of up to Rs 5,000 crore through issue of shares to QIBs through Qualified Institutional placement for expansion.

Hindustan Unilever: All eyes are on HUL’s as its set to announce its third quarter performance today.

ZEEL: ZEEL will be in limelight as it will announce its quarterly results today and according to poll company is likely to deliver a muted performance for third quarter.