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Nifty rejig to impact Ranbaxy, JP Associates Shares of Ranbaxy Laboratories and JP Associates may come under pressure as they move out of the Nifty. Tech Mahindra and United Spirits will replace them in the Nifty from Friday. As the Nifty is tracked widely by domestic and global fund managers for a variety of purposes, such as benchmarking fund portfolios, hedging through index-based derivatives and exchange-traded funds, additions and deletions in the Nifty will have a sharp impact.
Results may set clear direction for RECL Rural Electrification Corporation is scheduled to announce its results for the half-year ended September 30, 2013 on Friday. Since taking support at ₹170 in January 2014, the stock has been on a short-term uptrend. It breached its 200-day moving average and is hovering well above it. The stock met with resistance at ₹220 last week. An upbeat result will help the stock break this resistance and take it to ₹230 or ₹240. But, a fall below ₹205 can pull it to ₹190 or ₹180.
New orders to add sheen to Pennar Industries Shares of Pennar Industries will be in focus on the bourses, as the company said it has bagged orders worth ₹102 crore. According to the company, the orders were bagged by it, along with its subsidiaries Pennar Engineered Building Systems and Pennar Enviro Ltd from L&T, HCC and Yamaha Electronics, Schindler India, UltraTech Cement and Orion Projects, among others. Earlier, in January, the company had said it had bagged orders worth ₹70 crore.
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