IDFC quarterly chart is showing a very interesting pattern, which has an upside target of 200 over the next 4-6 quarters. The current price is 110.
Category Archives: Indian Stock Market
Gujarat NRE Coke to issue shares to ICICI Bank under Private Placement for Debt Restructuring
Gujarat NRE Coke Ltd has informed BSE that the Board of Directors of the Company at its meeting held on April 24, 2014, inter alia, has decided as follows:
1. To seek authority from the shareholders under the provisions of Sections 180(1)(c), 180(1)(a) and 181 of the Companies Act 2013.
2. To issue 1,21,61,222 Equity Shares to ICICI Bank Ltd under Private Placement basis in accordance with the terms and conditions of letter of Approval dated March 22, 2014 as issued by Corporate Debt Restructuring Empowered Group and as per Section 42 and other provisions of Companies Act 2013 as well as Chapter VII of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2009 [ICDR Regulations] subject to the approval of shareholders. Continue reading Gujarat NRE Coke to issue shares to ICICI Bank under Private Placement for Debt Restructuring
Sensex 10 Year Chart with Trendline -April 2014
The latest upmove in Sensex, in March 2013, has taken it past the 10 year trendline that was acting as the resistance (since 2011) on the upside at around 21300 (Nifty 6300). Now, the same trendline will act as support. Historically, all levels below the trendline have been a profitable for buying, and the Sensex has taken off after crossing this trendline in the last two occassions since 2004, after doing a test of its support strength. So there maybe a 5-10% correction before the next big upmove comes through. The major gainers will be the stocks linked to business cycles, like Banks, Financials, Energy, Materials, which are currently driving the Sensex higher. However, Indian market can not make and hold new highs if other countries are falling down. Global equity markets are correlated because Risk-on and Risk-off trades are playing across equity markets at the same time. A sharp rise of USD against other currencies is probably the biggest risk to Sensex upmove.