Index Trends And Stocks In Action For March 27, 2014

Indian Equity market opened on positive note and held on to the technical level of 6600. From last few days the Nifty has continued its northbound journey to make new life time highs. In yesterday's trading session bulls are looking confident for the March future expiry session. Going ahead, if index hold the levels of 6580, the March expiry session may see closing at 6620-6640 level. Alternatively, if Nifty does not manage to hold may see more profit booking trade around 6550 level.

A leading Saudi Arabian Bank and Tata Consultancy Services (BSE Code: 532540) have inked a pact to implement a new core banking software platform that is likely to "transform" the bank's customer service delivery system. The state-of-the-art banking platform BaNCS will replace the existing software systems and support National Commercial Bank's (NCB) entire core banking operations, including ATMs and online channels. The stock may remain in action in today's trade.

Sintex Industries (BSE code: 502742) will divest its entire stake in Zep Infratech, a wholly-owned subsidiary, to Khadayata Décor. However, the financial terms of the deal were not disclosed. The decision to divest the stake was taken at its board meeting. Gujarat-based Sintex Industries is into manufacturing of high-value fabrics and plastic processing. Zep Infratech is a telecom shelter manufacturer in India, supplying to leading telecom players such as Idea Cellular, Tata Teleservices, Bharti Airtel and Vodafone India, among others. The stock may remain in limelight in today's session.

Godrej Properties (BSE Code: 533150) has entered into a joint venture with two local firms to develop a premium housing project in Pune. Godrej Properties, the real estate arm of Godrej Group, would get 35% profit from the 43-acre JV project. The company has entered into a partnership to develop a residential project in Mundhwa, Keshavnagar, Pune. The project would have about 2.8 million sq ft of saleable area. The stock may witness some buying activity in today's trade.

State Bank of Travancore (BSE Code: 532191) an associate of SBI, has approved to raise equity capital up to Rs 629 by issuing new shares on rights basis. The stock may remain in limelight in today's trade.