Index trend and stocks in action December 02, 2016

Indian market started the session on a positive note tracking positive sentiments from the Asian markets. Thereafter, market shifted into a consolidation for the better part of the session. However, during the second half, weakness emerged and Nifty closed below 8200 mark. On the daily chart Nifty has formed a potential ‘Dark Cloud Cover’ candlestick pattern, which is a bearish reversal pattern. Now going forward, the zone of 8145-8160 may act as an important support for the Nifty. A decisive move below this level may open up for correction up to levels of 8100-8080. On the upside, the zone of 8260-8280 may act as a stiff resistance for the Nifty.

Tata Motors: Tata Motors reported sales of 38,900 units in November compared to 38,918 units in the same month last year. Domestic sales of Tata Motors’ commercial and passenger vehicles declined 6 per cent to 33,274 units in November over the same month of the previous year.

TVS Motors: TVS Motors posted sales of 224,971 during the month of November 2016, as against 225,401 units registered in the month of November 2015.

NTPC: The board of power giant NTPC has approved an investment of Rs 323.35 crore in the PSU’s first wind power project of 50 MW at Rojmal in Gujarat.

Bajaj Finance: Bajaj Finance said it has raised Rs 275 crore by issuing non-convertible bonds on a private placement basis. The bonds to be listed on BSE, carry coupon rate of 7.45 per cent per annum and has a tenor of 1093 days.

Mahindra and Mahindra: Mahindra and Mahindra reported 21.85 per cent decline in total sales at 32,499 units in November. The company has sold 41,590 units in the same month last year.

Maruti Suzuki: Maruti Suzuki, the country’s largest car manufacturer said that it sold 1.35 lakh units in November, a growth of 12.2 per cent compared with 1.2 lakh units sold in year-ago period.  

Axiscades: Airbus today signed a strategic agreement with QuEST Global and AXISCADES to provide a range of critical engineering services for all Airbus aircraft programmes as tier-1 suppliers.

Wipro: Wipro said that it has been awarded a three-year IT infrastructure services and digital transformation contract by Woodside. Woodside is an Australian oil and gas company with a global presence.

Vedanta: Mining conglomerate Vedanta plans to invest 150 to 200 billion rupees over three years to expand its alumina and aluminium producing capacity.