DSIJ Mindshare

Index Trends And Stocks In Action September 18, 2014

The Indian market ended firm after recording sharp losses in the previous two sessions. Despite the bounce, Nifty was unable to close above the psychological level of 8000 mark. Today recovery was led by the IT stocks followed power, telecom, auto and the capital good stocks. Nifty on daily chart has formed doji candlestick pattern. Now going forward 7920 remains important support for the nifty, if index manages to break this support level it’s likely to test levels of 7850. On upside 8030 will remain hurdle for the nifty and move above this level will trigger short covering and this will guide index to level of 8075.

Pharma major Sun Pharmaceutical Industries (BSE Code: 524715) entered into a licensing agreement with Merck & Co Inc for investigational therapeutic antibody candidate, Tildrakizumab to be used for treatment of plaque psoriasis. Sun Pharma will acquire worldwide rights to Tildrakizumab for use in all human indications from Merck in exchange for an upfront payment of $ 80 million. Tildrakizumab is being evaluated in Phase III registration trials for the treatment of chronic plaque psoriasis, a skin ailment. Merck will continue all clinical development and regulatory activities, which will be funded by Sun Pharma. The stock may trade with a positive bias in today’s trade.

Andhra Pradesh Government is in advanced stage of talks with NBCC (BSE Code: 534309) for the development of capital city Vijaywada. The company is currently working on a proposal to reconstruct the Andhra Bhawan in New Delhi. The plan comes in the wake of the bifurcation of the State and the land housing the Bhavan will be divided between Andhra Pradesh and Telangana. The stock may trade with a positive bias in today’s trade.

Cairn India (BSE Code: 532792) has made three new oil discoveries in its Rajasthan block, taking the total number of finds in the prolific block to 36. The discoveries in the Barmer basin Block RJ-ON-90/1 "further exemplifies the capabilities of Cairn's exploration team operating in this prolific onshore block. Exploration well DP-1 has encountered 70 meter gross oil bearing interval in the Barmer Hill formation. This is a significant discovery, in view of its proximity to the Mangala oil field and fast-track appraisal is planned to facilitate rapid commercialisation of this discovery. The stock may trade with a positive bias in today’s trade.

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Multibaggers28-Mar, 2024

Interviews28-Mar, 2024

Multibaggers28-Mar, 2024

Multibaggers28-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR