Index Trends And Stocks In Action June 25, 2015
Longest winning run of the key indices, Sensex and the Nifty got snapped in Wednesday’s trading session on the back of profit booking and worries about Greece’s debt resurfaced. Technically, Nifty opened with a positive bias and it shifted to Intraday consolidation for most part of the session. However, in the last hour of trading session, it slipped below 8400 mark and closed near day’s low. The end of the action has formed a bearish engulfing pattern, but not a powerful one. Now going forward important support for the index is placed around the level of 8330 and next support is around 8270. On the upside level of 8420 will act as a major hurdle for the index. We expect the market to be volatile with negative bias on the expiry day.
Bajaj Corp: FMCG firm Bajaj Corp is seeking shareholder’s nod to raise Rs 1,000 crore by issuing equity shares to institutional buyers through QIP. The company would consider the proposal to raise the sum at its Annual General Meeting to be held on 20th July, 2015, Bajaj corp said in a filing to National Stock Exchange.
Sun Tv: Sun Tv will be in focus after it fell nearly 13 per cent in the previous session on reports that the Prime Minister’s office has found merit in the Home Ministry’s decision to deny the broadcaster security clearance for its 33 channels.
Cupid: Cupid has received an order worth USD 16.28 million equivalent of approximately Rs 103.23 crores for supply of Female Condoms to the National Department of Health (NDOH), South Africa. This order is to be executed over next 3 years starting from 1st July, 2015 till 30th June, 2018. The new order is in continuation of the earlier order which has already been executed on schedule by the company.
Tech Mahindra: Tech Mahindra has been selected by Circle Health after a competitive procurement process to become their chosen technology partner for the next 10 years. The project will be delivered by nth Dimension, a newly formed wholly owned subsidiary of Tech Mahindra in the United Kingdom. The deal is worth a projected 50 million pounds over the 10 years.