Market View: Global markets trading in red due to weak US economic data and the negative news weighed on the financial stocks. Expect Indian Markets to be negatively biased but some value buying may be seen in later half of the day.
Nifty: Pivot Point – 2970
R1- 3023, R2-3065, R3- 3118 ; S1-2928, S2- 2875, S3-2833
Stock in Action: Carborundum Universal, Spice Jet, Airlines stocks for UP.
Spice Jet: (T1- 15.3, T2- 16, t3- 16.65; SL-13.95)
Airlines stocks for UP.
ATF prices cut by 11%, airline silent on fare cut
Carborundum Universal: (T1-95.3, T2-96.6, T3-97.75; SL- 82.85)
Carborundum Universal sells land for Rs 30 crore, money to be used to set up new manufacturing plant.
HCL to be in action: ( R1- 109.6, R2- 115, R3-118 ; S1- 100, S2-97, S3-91.6)
HCL Tech completes acquisition of Axon group. Group expect $1 billion orders in current quarter
Stocks in News:
Infosys bags multi-million Astra deal
Bajaj Auto to shut Waluj plant for 10 days
GMR Infrastructure close to buying Indonesian coal mine company for $80 million
Nagrajuna group chairman held on default of payment of Nagarjuna Finance Ltd depositors
Supreme Petro buy back at maximum Rs 14/sh
LKP Finance board approves proposal for buyback at a maximum Rs 90/sh (CMP 58)
Tuesday, December 16, 2008
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