Stock Tips for Today

The market continued with its upward march. On Thursday, benchmark indices ended at their record high levels with gains of about 1%. Earlier in the day, the market traded in a tight range and marginally slipped into the red in post lunch deals as selling in heavyweights like ONGC, HDFC Bank and ITC weighed on the indices. However, in the last half an hour of trades, the Nifty surged to its magical mark of 6300. On the daily charts, the Nifty is continuing its sequence of higher-top higher-bottom, which suggests buying on dips is a better strategy. The Nifty has a strong resistance at around levels of 6325-6355 on an intraday basis. On the downside it has a strong support around 6260-6220 levels.

Oracle has launched a newer version of the Oracle FLEXCUBE to help banks improve their mobile payment facilities with improved performance and more personalised customer experience. Oracle FLEXCUBE platform integrates easily with various channels, like call centers, ATMs and allows customers to access their account remotely. The stock of Oracle is expected to move up following this development in today’s trades.

LIC has reduced its stake in Tata Global Beverages by 2.02% by selling 1.25 crore shares in the open market. The institution held about 7.63% stake in the company, which it reduced to 5.60%. This reduction of stake by LIC happened over the past many months. The stock of Tata Global is expected to decline with this piece of information finding its way to the markets.

The Union Ministry Of Environment And Forests has recommended the environment clearance for Dharma Ports’ phase – II expansion, which is an equal joint venture between the Tatas and L&T. The investment requirement for this expansion stands at Rs 10000 crore to expand capacity to 100 million Tonnes per annum (MTPA) from 25 MTPA. The Stocks of both the companies is expected to move up tracking this development.

The RBI has allowed an increase in the limit of shares and convertible debentures that FIIs can hold in HCL Technologies Ltd from the earlier 30% to 49% of its paid up equity share capital under the Portfolio Investment Scheme. The shares of the IT giant will surely ride on this development in trades today.

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The market continued with its upward march. On Thursday, benchmark indices ended at their record high levels with gains of about 1%. Earlier in the day, the market traded in a tight range and marginally slipped into the red in post lunch deals as selling in heavyweights like ONGC, HDFC Bank and ITC weighed on the indices. However, in the last half an hour of trades, the Nifty surged to its magical mark of 6300. On the daily charts, the Nifty is continuing its sequence of higher-top higher-bottom, which suggests buying on dips is a better strategy. The Nifty has a strong resistance at around levels of 6325-6355 on an intraday basis. On the downside it has a strong support around 6260-6220 levels.
Oracle has launched a newer version of the Oracle FLEXCUBE to help banks improve their mobile payment facilities with improved performance and more personalised customer experience. Oracle FLEXCUBE platform integrates easily with various channels, like call centers, ATMs and allows customers to access their account remotely. The stock of Oracle is expected to move up following this development in today’s trades.
LIC has reduced its stake in Tata Global Beverages by 2.02% by selling 1.25 crore shares in the open market. The institution held about 7.63% stake in the company, which it reduced to 5.60%. This reduction of stake by LIC happened over the past many months. The stock of Tata Global is expected to decline with this piece of information finding its way to the markets.
The Union Ministry Of Environment And Forests has recommended the environment clearance for Dharma Ports’ phase – II expansion, which is an equal joint venture between the Tatas and L&T. The investment requirement for this expansion stands at Rs 10000 crore to expand capacity to 100 million Tonnes per annum (MTPA) from 25 MTPA. The Stocks of both the companies is expected to move up tracking this development.
The RBI has allowed an increase in the limit of shares and convertible debentures that FIIs can hold in HCL Technologies Ltd from the earlier 30% to 49% of its paid up equity share capital under the Portfolio Investment Scheme. The shares of the IT giant will surely ride on this development in trades today.
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