Index Trends And Stocks In Action June 10, 2015

The down fall continues in Indian equity markets for the sixth straight trading session. Lack of positive triggers, worries about imminent U.S interest rate hikes and concerns about growth amid predictions for a below normal monsoon weighed on the market. The end of the day action has formed a potentially doji candlestick pattern at the lower level, which is a preliminary sign of bullish reversal. However, this pattern comes into play only if the index trades above the level of 8057. Now going forward important support band for the index is around levels of 7920-7950. On the upside 8057 will act as a stiff resistance and next major resistance is placed around level of 8165.

Bharti Airtel: The telecom operator has increased mobile internet tariffs of 2G and 3G services for pre-paid users in Delhi, NCR, becoming the second major operator after Idea cellular to hike rates following the March spectrum auction

Talwalkars Better Value Fitness: Talwalkar and David Llyod Leisure plan to create a 50:50 joint venture establishing and managing leisure clubs in India. Under the agreement, Talwalkars and David Llyod Leisure envisage developing seven to ten clubs across a number of cities in India over the next five to seven years.

Cadila Healthcare: The Company has decided to delist its shares from Ahmedabad Stock Exchange (ASE) in view of non-trading of the company’s shares on the exchange for the past may years.

PVR: India’s largest real estate firm DLF today announced that its subsidiary DLF Utilities Limited has entered into definitive agreements to sell its cinema exhibition business operated under the brand name of “DT Cinemas”, to PVR limited, on a slump sale basis for an aggregate consideration of around Rs 500 Crore.