Index trend and stocks in action October 04, 2016

Indian market after witnessing some consolidation on Friday, got off to a positive start on Monday as investors were largely influenced by the supportive leads from the Asian markets. The Nifty index soon gathered momentum and traded with over a per cent gains through the morning session. In the second half of the session, Nifty capitalized on the momentum further and scaled up to intraday highest level. Nifty ended the session near highest point of the day. The present upside bounce back in Nifty has resumed from the important support level of 8550. As long as the zone of 8510-8550 holds, it’s likely that Nifty will continue its upside move. On the upside, immediate resistance for Nifty is placed around levels of 8770 and if Nifty sustains above this zone next resistance is placed in the zone of 8800-8828. Daily momentum oscillator RSI has turned from the level of 40 and at present is quoting around levels of 50.

TVS Motor: The company reported 25.99 per cent increase in total sales at 2,93,257 units in September. The Chennai-based company had sold 2,32,744 units in the same month last year.

HPL Electric & Power: HPL Electric will make its stock market debut today after successfully completing its Rs 361 crore initial public offering last week.

Bajaj Auto: Two and three wheeler major Bajaj Auto has reported a decline of two per cent in its total sales for the month of September.

Piramal Enterprises: SEBI has imposed a penalty on Piramal Enterprises on lapses in insider trading control. The insider trading allegations pertain to the sale of the domestic healthcare business by Piramal Enterprises to Abbott Laboratories. Apart from Ajay Piramal and his wife, the penalty has also been imposed on N Santhanam, a senior executive of the company. A total penalty of Rs. 6 lakhs has been imposed for failure to control lapses in insider trading compliance.

Wockhardt: Drug firm, Wockhardt said the US health regulator has excluded Ceftriazone Sodium from import alert issued earlier against its active pharmaceutical ingredient manufacturing facility at Ankleshwar.

Jain Irrigation Systems: Jain Irrigation Systems said it has secured an order worth Rs 284.4 crore from the Centre under AMRUT (Atal Mission for Rejuvenation and Urban Transformation) scheme to be executed in Karnataka.  

VST Tillers Tractors: The Company said that September tractor sales have come in at 1,008 units. The September power tillers sales have come in at 1,432 units.