Equity Research Report 24 August 2015 Ways2Capital Indore

INDORE, India - Aug. 24, 2015 - PRLog -- TECHNICAL TREND ( NIFTY - BANK NIFTY FUTURES )

Nifty futures/Bank Nifty futures market closed on 8287 /18044 . According to technical analysis if Nifty futures and Bank Nifty future moves down-word in tomorrow treading session then 8209 will be small support for Nifty futures and 17890 will be small support for Bank Nifty futures. If it break this level then then Nifty futures can go down to 8073 level and Bank Nifty futures can touch 17464level in next few days. It will be hard support for Nifty futures and Bank Nifty futures. Meanwhile in up trend there is small resistance on 8337for Nifty futures and 18167 is for Bank Nifty futures after breaking this level with volume there is big resistance for Nifty futures on 8483 and 18549 for Bank Nifty futures.

TOP NEWS OF THE WEEK

✍ Lupin gets US FDA nod for fenofibrate Tablets- Pharma major Lupin Limited announced today that it has received final approval for its Fenofibrate Tablets 54 mg and 160 mg from the United States Food and Drugs Administration to market a generic version of Teva’s Fenofibrate Tablets, 54 mg and 160 mg. Lupin’s US subsidiary, Lupin Pharmaceuticals Inc. would commence promoting the product shortly in the US Lupin's Fenofibrate Tablets 54 mg and 160 mg is the AB rated generic equivalent of the current reference listed drug, Fenofibrate Tablets 54 mg and 160 mg of Teva. It is indicated as an adjunct to diet to reduce elevated LDL-C, Total-C, TG and Apo B, and to increase HDL-C in adult patients with primary hypercholesterolemia or mixed dyslipidemia and for treatment of adult patients with severe hypertriglyceridemia. Fenofibrate Tablets 54 mg and 160 mg has US sales of USD 156 million.

✍ Sebimeets bourses to iron out FMC merger issues - Commodity exchanges would be given a deadline to comply with all the regulations under the Securities Contract and Stock Exchange Regulations Act, 2012, however commodity participants’s transition to the same is not expected overnight, says Sebi Chairman, U K Sinha in a meeting with officials along with the Sebi panel.The regulations would be finalized in Sebi’s board meeting on August 24.The meeting was held to sort out issues over its merger with the Forward Markets Commission and monitor the merger and officials of commodity exchanges.A time limit of up till 3 years would be granted to commodity exchanges to have separate clearing corporations, which they do not have currently and which is also mandate under the Sebi Act.A net worth of Rs 100 crore will have to be acquired by national commodity exchanges by 2017 along with regional stock exchanges, within three years of the merger.The merger is expected to be effective by September 28 and the event could witness the presence of Finance Minister Arun Jaitley. Sebi would issue circulars on risk management at national and regional commodity derivatives exchanges on the date of merger, as per a Business Standard report.

✍ Walmart Q2 net profit fell to $1.08 per share - Walmart Stores Inc reported weaker-than-expected quarterly earnings. The net profit fell to $1.08 per share in the second quarter ended July 31. The company reportedly said it now plans to open 160 to 170 of its smaller format stores in the full year to January.

✍ Orient Green Power gains on fund raising plan - Shares of Orient Green Power Company Ltd were trading 竅ｬhigher 1.2% at Rs. 14.05 on BSE today. The company said its board has approved raising Rs. 250 crore by issuing shares on a preferential basis. The existing promoter, SVL Ltd formerly known as Shriram Industrial Holdings Ltd and/or its subsidiaries will subscribe to shares equivalent to Rs. 150 crore.The stock opened at Rs. 14.30 as against the previous close of Rs. 13.88 on BSE. It has hit a high of Rs. 14.45 and a low of Rs. 14 on BSE today.Total traded quantity on the counter stood at over 1.19 lk shares on BSE.


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