Index Trends And Stocks In Action For August 04, 2014
Indian Equity market fell over 1.5% on Friday on back of strong sell-off in global market. Nifty registered its biggest fall since July 8, 2014. Another sentiment dampener is that FIIs have turned net sellers in last couple of trading session. On daily chart the Nifty index has slipped below its important support of 7650-7670, which was its 21-day EMA support as well. On weekly chart nifty index has formed a Bearish Marabuzo, this candlestick reflects strong bearish intent. The fact that there is a large body shows volatility and the fact that there are no tails represents the decisiveness of the candle. Now going forward the Nifty index has strong support in range of 7470-7510. On upside the bulls will face supply in zone of 7670-7660.
Nearly two years after it had said its premium water brand Himalayan would go global piggybacking Starbucks, Tata Global Beverages (BSE Code: 500800) has finally taken the product to Singapore. The tea, coffee and water business arm of the diversified Tata Group has said the response to the product has been on par with the French rival Evian. The stock may remain in limelight in today’s trade.
Chennai-based TVS Motor Company (BSE Code: 532343) reported a 32.15% per cent increase in its total sales at 203,092 units in July 2014. The company had sold 153,676 units in the same month last year. Total two-wheeler sales increased by 32% to 194,128 units in July 2014 as against 146,671 units in the same month a year ago. Domestic two-wheeler sales stood at 164,571 units last month, up 30%, from 126,531 units in the year-ago period. The stock may trade with a positive bias in today’s trade.
Auto component major Motherson Sumi Systems (BSE Code: 517334) (MSSL) has completed a USD 65.7-million deal for acquiring wiring harness business of US-based Stoneridge Inc. The business has strong synergies with MSSL's existing business, products, customer segments and operations. The acquisition includes six manufacturing facilities located in Portland, Indiana (USA); Chihuahua, Saltillo, Mexico and Monclova in Mexico; as well as an engineering and administrative centre located in Warren, Ohio (USA). The stock may remain in focus in today’s trade.
Gitanjali Gems (BSE Code: 532715) plans to raise up to Rs 175 crore through issue of warrants for expansion of diamond and jewellery business globally. The company said the Board of Directors has decided to seek approval of shareholders through postal ballot to raise funds up to Rs 175 crore by issue of convertible warrants to persons other than promoters by way of preferential allotment. The stock may remain in focus in today’s trade.