05/10/2015

The Sensex ended up 66.12 points or 0.25 percent to 26220.95 and the Nifty ended up 2.00 points or 0.03 percent to 7950.90.

IT services firm HCL Technologies stuck out as the biggest Nifty loser after it sounded revenue alarm owing to adverse currency movement and issues with a client in the public services vertical.Maruti was another big loser following lower-than-expected September vehicle sales.

NIFTY 7948.90 7992.05 8008.25 7930.65 7950.90 0.03%

NIFTY JUNIOR 19609.75 19765.10 19808.25 19629.50 19752.40 0.73%

LIX 15 3085.50 3082.25 3083.35 3045.45 3055.45 -0.97%

MIDCAP 50 3201.35 3228.70 3236.70 3188.55 3201.20 0.00%

CNX Bank 17216.30 17362.95 17390.60 17111.65 17150.20 -0.38%

CNX Finance 7048.10 7118.00 7118.00 6980.70 6996.15 -0.74%

CNX IT 12032.10 11877.85 11998.70 11769.50 11867.85 -1.37%

CNX Pharma 12918.75 13050.15 13183.05 13042.10 13140.85 1.72%

NIKKEI 225 17479.97 17831.58 17389.57 17722.42 1.89%

HANG SENG 20795.93 20939.39 20683.11 20846.30 1.39%

TAIWAN 8194.30 8317.79 8170.78 8295.94 1.38%

SSE 3052.84 3073.30 3039.74 3053.32 0.50%

M&M completes acquisition of 33% stake in Mitsubishi Agri

M&M on Thursday completed USD 25 million acquisition of 33 percent stake in Mitsubishi Agricultural Machinery Co, which has been renamed as Mitsubishi Mahindra Agricultural Machinery Co. Mahindra & Mahindra, which had announced the acquisition in May this year, said in a statement that the two companies entered into a capital tie-up through a third party allocation of new shares.

As a result of the capital infusion, Mitsubishi Heavy Industries now owns 66.7 percent and M&M 33.3 percent in Mitsubishi Agricultural Machinery (MAM). Starting from October 1, 2015 the name of the company (MAM) has been changed to Mitsubishi Mahindra Agricultural Machinery Co, it said, adding a new organisational structure has also been announced.

Under the new structure, Katsumi Tottori, former President of MAM, has been appointed as CEO of the new entity, while Sudhir Jaiswal, ex-VP Commercial Business and Planning, International Operations of M&M, will be the CFO.

It further said Takahiro Hisano, former VP and General Manager of Development and Design at MAM, will be the CTO and Senior Vice-President, it added.

Opportunity to enter Sun Pharma

"Within pharma if you are in a good company you just stay there. But if somebody wants to invest, let us say, there are a lot of people who are not in pharma or not as much as they should be, Sun Pharma is an opportunity. The stock has gone through a deep correction, it is now building the right base for that move that we have already seen in Lupin and Dr Reddy's Laboratories ."

Sun Pharmaceutical Industries closed at Rs 891, up Rs 19.80, or 2.28 percent. It has touched an intraday high of Rs 895 and an intraday low of Rs 873.25.

BUY SUNPHARMA ABOVE 890 TGT 920 SL 860.

The information contained here was gathered from sources

deemed reliable however; no claim is made as to accuracy or

content. This does not contain specific recommendations to buy or

sell at particular prices or time, nor should any examples presented

be deemed as such. There is a risk of loss in equity trading and you

should carefully consider your financial position before making a

trade. This is not, nor is it intended, to be a complete study of chart

patterns or technical analysis and should not be deemed as such.

Money Classic Investment Advisors does not guarantee that such

information is accurate or complete and it should not be relied

upon as such. Any opinions expressed reflect judgments at this

date and are subject to change without notice. For use at the sole

discretion of the investor without any liability on Money Classic

Investment Advisors.