Index Trends And Stocks In Action December 23, 2014

The Indian market extends its winning streak for the third consecutive trading session on Monday as it reclaims its important psychology mark of 8300 led by gains in Banking, Auto and FMCG stocks. Nifty consolidated in a tight range for most part of the day. It finally breached its resistance level of 8260-8280 and saw a spurt of 30-50 points in quick string. Now going forward the index is likely to continue its upward momentum for near term. Key resistance level for index would be 8380 and 8455. On downside 8270 and 8200 would act as important support level.

CanFin Homes (BSE Code: 511196) has received market regulator Securities and Exchange Board of India’s (Sebi) approval for raising up to Rs 300 crore through a “rights issue”. In a right issue, shares are issued to existing investors based on their holdings at a pre-determined price and ratio. The company filed its application with Sebi for the proposed rights issue in September.

Videocon Industries (BSE Code: 511389) has closed the GDR Issue and allotted 15,700,000 underlying equity shares of face value of Rs 10/- each, represented by 15,700,000 GDR at a price of USD 2.88 per GDR, equivalent to Rs 181.61 per equity share aggregating to USD 45.216 Million. The exchange rate considered is as per the RBI dollar to rupee reference rate as on December 19, 2014 which is Rs. 63.07.

Jet Airways (BSE Code: 532617) has raised USD 150 million (over Rs 900 crore) five year loan from banks in Gulf region to refinance its high cost debt. The debt was raised from banks in Dubai, Abu Dhabi, Bahrain and Doha and Mashreqbank psc, was the sole initial mandated lead arranger and book runner for the transaction.