Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
26 December, 2014 13:35 IST
Swastika Investmart on Ranbaxy, NTPC
Source: IRIS | 23 Nov, 2012, 06.24PM
Comments  |  Post Comment

In an exclusive interview with, Sandeep Porwal, technical analyst, Swastika Investmart has provided views on 2 buzzing stocks on Friday, Nov. 23, 2012 which are as under:


Ranbaxy Laboratories, one of the leading pharma players, plunged today after it has recalled Atorvastatin from the USA market. This will cause temporary disruption to that market of this product, it said.

''The investigation with regard to the same of this issue is expected to be completed within two weeks and thereafter the company expects to resume supplies,'' the company said.

Counter was hovering around the level of 517 levels since last few of trading sessions with the negative bias, following breach of mentioned level with significant volume build up triggered present sell off.  Counter may test the level of 470 in following trading session till it trade below the level of 517 and so. Weekly charts also indicate respect of level of 470 may provide some respite to the present sell off while getting   resulted in consolidation phase ahead.

Shares of the company declined Rs 16.75, or 3.27%, to settle at Rs 495.95. The total volume of shares traded was 191,814 at the BSE.


The Cabinet Committee on Economic Affairs has approved disinvestment of 9.5% equity of NTPC, out of its holding of 84.5% through an offer for sale of shares through Stock Exchanges as per SEBI Rules and Regulations.

After this disinvestment, Government of India's shareholding in the company would come down to 75%. The paid up equity capital of the company, as on Mar. 31, 2012 is Rs 82.45 billion. The President of India holds 84.5% of the paid up capital in NTPC.

Counter has been trading in sideways territory since long, successive breach of up sloping trend line supports follow through sell off. Significant build up of volume emphasis selling pressure is likely to get build up till it trade below the level of 166 on a closing basis. Counter may test the major support level of 147 on a positional basis. On the other hand fresh long shall be taken once it trade above the mentioned level of 166.

Shares of the company declined Rs 4.2, or 2.57%, to settle at Rs 159.50. The total volume of shares traded was 662,710 at the BSE. 

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.

Comments Post comment 
 Post Comment
Name Email
Security Code type    into this box
Related Articles
Reliance Capital inks pact with Sumitomo Mitsui - 26-Dec-2014 13:28
Zensar announces multimillion dollar deals in infrastructure biz - 26-Dec-2014 12:42
Market wide rollover at 83.05% vs. 85.33%: ICICIdirect - 26-Dec-2014 11:47
VA Tech Wabag bags order worth Rs 1.75 bn - 26-Dec-2014 11:42
HDFC Bank allots shares under ESOS - 26-Dec-2014 11:38
Reliance inks shipping deal with Mitsui - 25-Dec-2014 11:40
Tube Investments allots share - 24-Dec-2014 17:57
Tata Motors launches Prima world truck, in Nepal - 24-Dec-2014 16:54
Aditya Birla Nuvo allots shares under ESOS - 24-Dec-2014 16:14
Arrow Coated Products enters into supply agreement with Careli - 24-Dec-2014 15:58
Axis Bank allot equity shares under ESOP - 24-Dec-2014 15:49
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer