Index Trends & Stocks In Action For 17th September 2013
DSIJ Intelligence / 17 Sep 2013
Indian Equity market saw a gap up opening of 100 points on Nifty and ended flat for second day in row. It was yet another day where we saw supply coming at higher levels around 5920-5940.
Indian Equity market saw a gap up opening of 100 points on Nifty and ended flat for second day in row. It was yet another day where we saw supply coming at higher levels around 5920-5940. Nifty has been trading in narrow range of 100-120 point for third consecutive day in row. This suggests that market is waiting for big event or news to break this range. Going ahead bulls need to trade above and sustain above 5940-5960 for fresh breakout. On upside nifty will face resistance around 5910-5960. On downside strong support is around 5800 and 5770.
Pharmaceutical entity Cadila Healthcare has launched Lipaglyn, its patented new drug for treatment of diabetes. Lipaglyn will be available across India and is priced at Rs 25.90 per tablet. It is recommended for once administration of once day as a 4mg tablet.
Two and three wheeler maker TVS Motor Company launched its latest 110 cc offering 'Jupiter', in a bid to strengthen its presence in the scooter segment. This is the fourth product from the city-based company, after the highly popular Scooty Pep, Scooty Streak and Wego models.
ITC Hotels a part of ITC has tied up with RP Group Hotels & Resorts to manage five hotels in India and Dubai, under the former's five-star 'WelcomHotel' brand and the group's mid-market to upscale 'Fortune' brand. The tie-up has been firmed up through a memorandum of understanding between ITC Hotels and RP Groups Hotels & Resorts. While the two WelcomHotels are already under a management contract and will be flagged off immediately, the three Fortune hotels will be launched soon.
For the September quarter, RIL has emerged as a top advance tax payer as its advance tax payment stands at Rs 1670 crore against Rs 1534 crore year ago. HDFC Bank also paied 25% highr advance tax payment. ICICI bank too paid higher tax on year on year basis. On the other hand, the advance tax payments of the cement companies has declined. one may see some action in the stocks that have reproted their advance tax payments.
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