Index trend and stocks in action July 13, 2016
DSIJ Intelligence / 13 Jul 2016
Indian benchmark indices got off to a positive start as investors and traders were largely influenced by supportive leads from Asian markets. Thereafter, it moved in a narrow range, but saw a sudden spurt in buying, post the optimistic opening of European markets.
Indian benchmark indices got off to a positive start as investors and traders were largely influenced by supportive leads from Asian markets. Thereafter, it moved in a narrow range, but saw a sudden spurt in buying, post the optimistic opening of European markets. On the daily chart Nifty has formed yet another gap which is not fully filled and this is second back to back upside gap recently. Since, the BREXIT panic has now calmed down, Nifty has moved in vertical up-move with some consolidation in between. However, Nifty has witnessed a number of gaps and most of the gaps remain unfilled. Now going forward the zone of 8560-8580 level will act as a hurdle for the bulls on the upside. On the downside, immediate support is placed at 8470 levels.
Suven Life Sciences: The company announced that it has secured two patents in India and South Africa.
DHFL: Dewan Housing Finance (DHFL), the second largest pure home loan player, plans to further raise share of retail deposits in overall fund to 10 per cent this fiscal as a party of its strategy to diversify the source of borrowings.
Jaiprakash Power Ventures: Jaiprakash Power Ventures announced that the Board in the said meeting will also consider the proposed scheme of Arrangement for hive-off and transfer of 500 MW Jaypee Bina Thermal Power Plant of the Company to its subsidiary company.
Kwality Dairy: US Private Equity firm KKR has committed to invest Rs 520 crore in Kwality, a Delhi-based private dairy company, through structured debt instruments.
Mahindra and Mahindra: Mahindra Aero Structures, part of M&M group, has secured a contract from Airbus Helicopters to make airframe parts for the Panther Helicopters. They will be produced at the Mahindra facility at Bengaluru and will be directly shipped to France where they will be assembled with the other parts.
IDFC Bank: IDFC Bank signed a share purchase agreement to acquire 100 per cent of Grama Vidiyal Micro Finance.
Ruchi Soya Industries: A Creditor of Ruchi Soya Industries (RSIL) has filed a winding up petition in the high court here against the company, RSIL said in a notice to stock exchanges.
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