Tuesday, January 14, 2014


 Cairn India buyback starts from January 23; stock up 1.5 percent
Cairn India is trading higher by 1.5% at Rs 329.80 after the company said that its proposed share buyback offer will commenced from 23 January 2014. The stock opened at Rs 325.65 and touched a low of Rs 324.90 so far on the NSE.  A combined 894,000 shares have changed hands on the counter so far on the NSE and BSE.
Ranbaxy Lab extends Monday's slide
Shares of Ranbaxy Laboratories have declined after company said it has received the form 483 with certain observations as a result of the recent United States Food and Drug Administration (USFDA) inspection at its active pharmaceuticals ingredient (API) plant at Toansa, Punjab, India.
 Morgan Stanley Asia buys 15 lakh shares of Escorts
Shares of Escorts were trading higher after Morgan Stanley Asia (Singapore) PTE bought 15, 09,036 shares at Rs 121.10. In the previous trading session, the share closed at Rs 123.25, up Rs 3.75, or 3.14 percent. The stock opened at Rs 124.30 and touched the high of 126.60 so far on the NSE.
ITC raises price of Bristol packet by 15%, shares up 1%
Shares of ITC gained as much as 1.36 percent in morning trade as reports suggest that it has increased Bristol cigarette price. ITC raised Bristol cigarette price by 15 percent to Rs 45 per pack of 10 sticks. Earlier a packet of 10 Bristol stocks costed Rs 38.

Somany Ceramics hit record high on Creador stake buy
Somany Ceramics has soared 13% to Rs 137 after its board approved to issue 4.35 million shares of the company to private equity firm Creador for Rs 50 crore on preferential basis.


INDIAN BENCHMARKS ended on a weak note.

ended on a weak note after a volatile session led by declines in software exporters such as Tata Consultancy Services Ltd on profit-taking after the recent run-up on better-than-expected quarterly results by peer Infosys Ltd. Cairn India were trading higher by 2% at Rs 332 after the company said that its proposed share buyback offer will commenced from 23 January 2014.

Shares of Coal India rise as market eagerly awaits the quantum of dividend that the company will declare. The stock has rallied more than 5 percent in the past four trading sessions. NIIT Technologies disappointed the street with the third quarter consolidated net profit falling 14.9 percent sequentially, higher-than-expected, to Rs 53.1 crore due to forex loss.

The crucial resistance for Nifty is now seen at 6310 and above this 6360. Support for the immediate term is now placed at 6190 and next support will be 6130.

News to watch:

Watch out for Wholesale Price Index (WPI) on Jan 15.