Index Trends And Stocks In Action 6th February 2013

Indian markets on Tuesday continued its losing streak for fourth consecutive day on the back of weak global cues and profit booking in heavyweights with nifty closing lower by 0.51% at 5957. In today’s trade after a gap down opening bear tried to knock bulls out, but bull manage to hold levels of 5945-5950 this add more importance to this level. So levels of 5945-5950 considered as strong support. If the nifty breaks this support, next support comes in at 5910-5920. On higher side nifty will face resistance at 5975 and 6010.

Bharat Heavy Electricals (BHEL) has been bagged order worth Rs 2854 crore from Nabinagar Power Generation Company. It is for supply of the steam generator package for three coal-fired thermal units of 660 MW each with supercritical parameters. According to the management talks BHEL is expected have an order intake of Rs 30,000 crore for 2012-2013. On the announcement that has come up BHEL, we expect the stock of BHEL to remain volatile for the day today.

Bharti Airtel is buying its entire shareholding in the joint venture with Alcatel Lucentl. The Company is doing this as a part of new business model to manage fixed line and broadband networks. Moving forward the company would invite other operators to join in with equity participation. On the announcement that has been come up from Bharti Airtel, we expect the scrip to remain in focus for the day today.

Kotak Mahindra Bank has acquired the business loans of Indian arm of Barclays India. With this acquisition Kotak will have 6000 customers with total loans outstanding of about Rs 7 million.  On the development from Kotak Mahindra, we expect the stock to remain bullish for the day today.

Adani Enterprises announced that, Adani Agro Private one of the promoter group companies will be selling of 70 lakh shares of the company via auction. Company will announce the floor price for the auction today after trading hours of the stocks in exchange. On the announcement, we expect the Stock of Adani Enterprises to remain in limelight for the day today.

Among the major companies to announce their results today are Apollo Tyres, AstraZeneca Pharma India, Automotive Axles, Bajaj Electricals, Cipla, Dunlop India, Godrej Industries, Honeywell Auto, IRB Infra, Jindal Saw, JK Lakshmi Cement, Manappuram Finance, MOIL, Procter & Gamble Hygiene & Healthcare, Speciality Restaurants, Tribhovandas Bhimji Zaveri, United Breweries, and Welspun India.