Index trend and stocks in action June 15, 2016
Chirag Gothi / 15 Jun 2016
The Indian benchmark indices started the session with a positive bias, shrugging off weak cues from the Asian peers, where sentiments to a great extent remained under the influence of Wall Street, which fell for the third consecutive session on Monday.
The Indian benchmark indices started the session with a positive bias, shrugging off weak cues from the Asian peers, where sentiments to a great extent remained under the influence of Wall Street, which fell for the third consecutive session on Monday. Thereafter, the indices traded in a narrow range until the WPI inflation data was released; and post that the indices drifted into negative territory. Towards the end, market recouped from lower levels and shut above 8100 mark. Tuesday was the second successive trading session where Nifty formed a small body candle and both the small body candles have an identical low. Now going forward bulls need to sustain above level of 8140; and if they do, markets are likely to fill the gap which was created as on June 13, 2016. On the downside, the level of 8060 will act as an important support zone.
Reliance Infrastructure: HSBC has offloaded over 26 lakh shares in Anil Ambani led Reliance Infrastructure for an estimated Rs 144 crore through an open market transaction.
Coal India: Coal India’s subsidiary, South Eastern Coalfields, will buy back shares worth Rs 1200.19 crore. This will help the government move closer to its divestment target of Rs 56,000 crore for the year.
TCS: India’s largest software service firm, TCS, has seen its tax liabilities more than double to Rs 8,148.03 crore in fiscal year 2015-16 compared with Rs 3,962.83 in the previous fiscal year.
Punjab National Bank: India’s second biggest state-run lender declared a list of 913 wilful defaulters, including Kingfisher Airlines, with total outstanding dues of Rs 11,486 crore.
SpiceJet, Jet Airways, InterGlobe: The Union Cabinet is likely to take up Civil Aviation Policy for consideration and approval in its meeting which is scheduled today.
Bharti Infratel: Mobile tower firm Bharti Infratel will buy back shares worth Rs 2,000 crore from shareholders. With the buy-back price of Rs 425, the company will undertake buy back on a proportionate basis from the shareholder as of June 16, 2016.
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