Nifty hits 6000 level: Twelve stocks in action

May 7, 2013   ·   0 Comments   ·   1,503 Total Views   ·   http://www.canindia.com/i00fn

NEW DELHI

The S&P BSE Sensex rallied over 100 points in morning trade on Tuesday, led by gains in realty, banks and capital goods stocks. The Nifty indexstocks-trade also surged past its key psychological level of 6000 in intraday trade.

At 09:45 a.m., the Nifty was trading 0.6 per cent higher at 6007.85. It touched a high of 6008.25 and a low of 5982.95 in early trade today.

The BSE Sensex was trading 0.6 per cent higher or 131 points at 19804.07. RIL (1.2 per cent), ITC (1.1 per cent) and ICICI BankBSE 1.56 % (1.8 per cent) led the gainers pack.

“The Nifty is expected to head higher till 6000. In this period the key support will be at around 5929 and resistance will be at 6000,” said Somil Mehta, Senior Tech Analyst (Equity) at Sharekhan.

The Nifty has closed above 78.6% retracement level (5971), i.e. the level of retracement of the fall from 6111 to 5477.The level was a very crucial resistance.

Mehta is of the view that the short-term bias for the Nifty remains positive for a target of 6111 with reversal around 5775. The medium-term outlook also remains positive with reversal around the 20- daily moving average (DMA).

Here is a list of twelve stocks which are in focus in morning trade:

Emami Ltd, after the FMCG firm reported 29.8% jump in its net profit at Rs 93.97 crore for the fourth quarter ending March 31, 2013, on back of 13.1% jump in revenue at Rs 450.95 crore.

At 09:45 am; the stock was trading 2.6 per cent higher at Rs 682.35.

Den Network Ltd, after the Cable television services firm plans to raise around $160 million (about Rs 865 crore) through issue of shares to institutional investors, including $110 million from the Goldman Sachs Group.

At 09:45 am; the stock was trading 0.13 per cent higher at Rs 227.05.

Kansai Nerolac Paints, after the company has reported over two-fold increase in standalone net profit at Rs 122.7 crore for the quarter ended March 31, 2013.

At 09:45 am; the stock was trading 0.2 per cent lower at Rs 1230.

Coal India Ltd, after the government is looking to launch a Rs 20,000-crore share sale by divesting 10 per cent equity in Coal India, which will single handedly meet half of this year’s disinvestment target.

At 09:45 am; Coal India was trading 1.09 per cent lower at Rs 312.

Adani Power Ltd, after the company reported Rs 586 crore net loss for the fourth quarter ended March 31, primarily due to higher cost of imported fuel.

At 09:45 am; the stock was trading 0.2 per cent lower at Rs 48.30.

Omaxe Ltd, after the realty player said its promoters are planning to launch an offer for sale (OFS) to comply with the Sebi’s minimum public shareholding norms.

At 09:45 am; the stock was trading 0.3 per cent higher at Rs 158.15.

South Indian Bank, after the bank reported over 26 per cent jump in net profit at Rs 153.83 crore for the fourth quarter ended March 31, 2013, mainly on the back of an improved net interest margin.

At 09:45 am; the stock was trading 2.4 per cent higher at Rs 24.80.

Godrej Properties Ltd, after the company said that its board of directors will meet on May 9 to consider the issue of equity shares to existing shareholders on a rights basis.

At 09:45 am; the stock was trading 0.4 per cent higher at Rs 307.80.

NTPCBSE 1.53 % Ltd, after the state-run power major said it expects to start production at its six coal blocks by 2017, which will help it secure an additional 40 million tonne of captive coal.

At 09:45 am; the stock was trading 1.9 per cent higher at Rs 159.90.

State Bank of India, after the public sector bank said it will consider merger of five associate banks in the second quarter of the fiscal.

At 09:45 am; SBI was trading 0.7 per cent higher at Rs 2241.

Lanco Industries Ltd, after the company said that it has decided to withdraw its proposal to set up a mini cement plant in Andhra Pradesh.

At 09:45 am; the stock was trading 14 per cent higher at Rs 22.95.

DLF Ltd, after the real estate firm said that it is planning to sell up to 81 million shares and has mandated eight banks for the institutional placement sale.

At 09:45 am; the stock was trading 1.3 per cent higher at Rs 235.85.

SHARE WITH YOUR FRIENDS!

  • Facebook
  • Twitter
  • Google Plus
  • LinkedIn
  • Pinterest
  • Email
  • Print
  • PDF

By

Tags: , , , , ,


Readers Comments (0)





Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

Close
Please support the site
By clicking any of these buttons you help our site to get better