WEEKLY EQUITY REPORT 14 TH APRIL T0 18TH APRIL 2014

INDIAN BENCHMARKS made new highs with the nifty surging past the 6800 mark for the first time. However, post the breach of 6800 levels, markets were unable to carry the momentum forward as profit booking set in. IIP in February shrunk at -1.9 percent versus an expansion of 0.8 percent (month-on-month). This is a nine-month low for the industrial output.

Sun Pharmaceutical and Ranbaxy Laboratories entered into definitive deal where Sun Pharma will acquire 100% of Ranbaxy in an all-stock transaction. BHEL reported a 51% fall in provisional net profit for the fiscal year ended March 31 to Rs32.28 bn.

The INDIAN BENCHMARKS SENSEX ended 86 points down at 22628 and the 50-share NIFTY closed 20 points down at 6776.