BF Utilities Gains On the Land Divestment Case

Market Wrap-up:

MARKET UPDATES.

Benchmark share indices surged for the fourth consecutive day tracking a rally in global peers after the first Fed rate hike in almost a decade by25 basis points and signaled its tightening cycle would be “gradual.” The broader markets outperformed and finally ended at two-week closing high today.

HEADLINES:

• Govt defers plan to impose 2 pct levy on air tickets from Jan 1 2016.
• Vivimed tanks as the company announces stock split date.
• Sunil Hitech dips after I-T Dept conducts searches on premises.
• BF Utilities gains on the land divestment case.
• HUL gains after acquiring Indulekha brand.

STOCKS IN NEWS:

• Jet Airways: Jet Airways today said the resignation of its CEO Cramer Ball to pursue a new opportunity in Europe for family reasons, resignation will be effective on 29 Feb 2016 while Gaurang Shetty(Whole-time Director) will become the acting CEO of the Company.
• Inox Wind: Inox Wind gains after get perpetual and exclusive rights to make 2 MW electrical control systems from AMSC.
• Tata Power: Tata Power told that the company completes updating of the existing second transmission line in Mumbai.
• NTPC: NTPC Industries moved higher on the back of block deals, near around 5386679(NSE+BSE) shares were traded on the counter.
• RCom: RCom in talks with Vodafone in Mumbai and Delhi circles for sharing 3G spectrum.
• PFC: Power Finance Corporation today declares that the company’s board of directors have an interim dividend of Rs 8.80 per share for F.Y 2015-16
• eClerx Services: eClerx Services gains as much as fixed record date as December 18 for stock split in the ratio of 1 Bonus Equity Share of Rs. 10/- each for every 3 Equity Shares of Rs. 10/- each held by the Company.

STOCK RECOMMENDATION:

1.   Mastek EQ (Intraday chart).

 

Mastek EQ saw a gap up opening and gains in early trades and consolidates near is next resistance for the whole trading day, upward moment may seen if able to break its consolidation and sustain above it. Buy above 188 targets189.90/191.80/193.70 SL 186.

2.   8kmiles EQ.

 

 

8kmiles EQ is heading towards its fresh high, stock gains nearly 5 percent in today's trading session. Fresh buying may seen from current levels. Buy above 1971 targets 1990.70/2010.60/2030.70 SL 1951.20.

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