Index trend and stocks in action March 07, 2017

On Monday, the Nifty opened the session with an upside gap and further showed strength during the early part of the session.  However, during the afternoon session, the Nifty shifted into a consolidation mode, and later on surged higher to close near the day’s high. Nifty had formed a strong base around levels of 8860, wherein as on March 3, 2017 it formed a ‘Hammer’ candlestick pattern, which was followed up with a gap up and long range bullish candle. Hence, it indicates bulls are back in action. Now the major hurdle for the Nifty is placed around levels of 9000, and above this level it's likely to scale up to test its all-time high levels. On the downside, immediate support level is placed in the zone of 8925, and next support is placed at level of 8860.

Coal India: Approves interim dividend of Rs 18.75 per share for financial year 2016-17.

Bank of Maharashtra: Leaves the Marginal Cost of Funds based Lending Rates (MCLR) unchanged with effect from March 7, 2017.

Bombay Burmah Trading Company: Finance Committee of the board of directors propose to acquire additional shares in The Bombay Dyeing & Manufacturing Company Ltd., directly or through its wholly owned overseas subsidiary.

Den Networks: Cable television services firm, Den Networks purchased additional 37.57 per cent stake in its subsidiary, DEN Digital Cable Network, increasing stake from 51 per cent to 88.57 per cent.

PNC Infratech: PNC Infratech emerges as lowest bidder for six laning of Chitradurga-Davanagere including Chitradurge Bypass.