Index trend and stocks in action January 18, 2016

The Indian markets witnessed a black Friday as the indices tanked more than 1 per cent due to weak global cues and disappointing quarterly numbers announced by FMCG major HUL. On the daily chart the index has formed a Bearish Candlestick pattern, which is suggesting sellers have been aggressive. Now going forward index has a strong support zone in the range of 7380-7400; a decisive breach below this support zone will open gates for a correction upto level of 7250. On the upside, level of 7490 will act as a stiff resistance and major resistance is around the levels of 7540.

Aurobindo Pharma: Aurobindo Pharma has received final approval from the US Food and Drug Administration to manufacture and market its Tranexamic acid injection, used for treating hemophilia, in the American market and another approval to manufacture and market Paricalcitol Capsules. While the first product is expected to be launched by the end of Q4 FY15-16, the second one will be launched in Q1 FY16-17, the company informed BSE

Pipavav Defence: Pipavav Defence’s reported net loss in Q3FY16 widened to Rs 293.60 crore due to sharp decline in the income from operations. The company had reported the net loss of Rs 70.46 crore during the previous year. The net income from operations of the company declined to Rs 50.53 crore as against Rs 252.02 crore in the corresponding review period last year.

LIC Housing Finance: LIC Housing Finance reported 21.65% growth in net profit of Rs 418.9 crore in Q3FY16. Company’s Net Interest Income (NII) is reported at Rs 784.34 crore, and the company registered a growth of 35.01%.

MT Educare: MT Educare says board to meet on January 20 to consider raising funds via QIP

Oberoi Realty: Oberoi Realty reporte more than a two-fold jump in consolidated net profit to Rs 209.35 crore in Q3FY16 on higher sales. Total income increased to Rs 790.33 crore in Q3FY16 from Rs 219.6 crore in the corresponding period of the previous year.