Gas Distribution Stocks Were in Demand

A Market Wrap-up:

MARKET UPDATES.

The market ended with green signals as to the Fed outcome of interest rates (it may hike interest rate for the first time in a decade in a Federal Reserve meeting). Nifty gains for the third day and finally closed above 7750 level. 

HEADLINES:

o   Gas distribution stocks were in demand; IGL gains.

o   Wipro tanks as Chennai floods to impact Q3 revenues, margins.

o   Auto Index tanks after SC verdict diesel vehicle registration.

o   Pipavav Defense surged on the back of heavy volumes.

o   BHEL surged as a commissioning thermal unit in West Bengal.

STOCKS IN NEWS:

o   TCS: Tata Consultancy Services (TCS) gains after selected to provide testing services and help improve the quality of the services of, their technology operations by leading global aviation group Deutsche Lufthansa AG.

o   S H Kelkar And Company: Shares of SHK gains more than 7 pct today on the back of huge trading volumes in stock and hits fresh high on NSE (National Stock Exchange) stock opened at 219 and made new high of 242.50.

o   InterGlobe Aviation Limited: IndiGo gains and hits 52 weeks high today as Aviation-operating company entered into the list of the top-50 most valuable companies in terms of m-cap (market capitalization).

o   Thomas Cook: Thomas Cook gains after securing approval for its acquisition of rival Kuoni Travel from competition watchdog.

o   Infosys: Stock gains in morning trades as its product subsidiary have received orders from a Hong Kong-based bank for banking solution.

o   Mahindra Holidays: Stock gains as the company   will buy 51% stake for Rs.7.1 crore in Visionsbolaget 10088 AB.

STOCK RECOMMENDATION:

1.   Sun TV EQ.

 

Sun TV EQ saw pull back from 100 days DMA, and gains for the second day, further more buying could be expected from current levels. Buy above 392 targets 395.90/399.90/403.90 SL 387.90.

2.   BHARATFORGE EQ.

 

BHARATFORGE EQ gains in the first half of trading session and consolidates for rest, more buying seen if able to give breakouts and sustain above it. Buy above 847.20 targets 855.70/864.20/872.90 SL 838.50.

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