Hind Unilever breaks below 200 DMA
The stock of Hindustan Unilever has dropped sharply by 2.6 per cent on Friday and has closed below its 200-day moving average. The company is scheduled to announce its FY13-14 results on Monday. There is support for the stock at current levels and then at ₹571, its 21-week moving average, which is significant. The results will decide whether a reversal can happen from these supports. A break below ₹571 will add more pressure and may push it to ₹550.
Delisting offer to buoy Fulford India
Shares of Fulford India will be in demand next week, as the board of directors of the company on Friday received a letter from Dashtag saying its intention to make a voluntary delisting offer to the public shareholders of the company. Dashtag, its promoter, plans to acquire 9.77 lakh shares , representing 25.05 per cent of the paid-up equity share capital of Fulford. The indicative price for the delisting has been fixed at ₹1,150. The stock on Friday closed at ₹685.85.
SKS Microfinance: Keen on results
Shares of SKS Microfinance will remain active next week, as the company is declaring its quarterly and yearly (2013-14) financial performance on Monday. Analysts would be keen on its performance, as it has completed 13 transactions worth ₹1,820 crore in FY-14. Looking at the improvement in funding environment, coupled with strong growth in assets, improvement in operating efficiency and control over asset quality, analysts expect better return ratios.