Index trend and stocks in action March 30, 2017

On Wednesday, Nifty opened the session on a positive note, and shifted into a consolidation mode for the better part of the session, however, buying interest emerged during the later part of the session and Nifty ended the session near day’s high. Nifty managed to close above the immediate hurdle of 9125-9135, and now going forward, the zone of 9170-9180 may act as a resistance zone. A move above these levels may open up for re-test of all time high levels of 9218. On the downside, immediate support for Nifty is placed around 9125, and a move below this level may open gates for further correction up to levels of 9060-9070. Today being March series Future and Options expiry expect volatility in markets.

Reliance Industries: Reliance Industries said it has completed sale of its entire 76 per cent stake in its East African company GAPCO to Total SA of France for an undisclosed sum.

Alkem Laboratories: The Pharma firm said it has received establishment inspection report (EIR) from the US health regulator on the closure of its inspection at its API facility at Ankaleshwar in Gujarat.

Yes Bank: The private sector lender announced that the Capital Raising Committee of the board of directors at its meeting held on March 29 has approved issue price of Rs 1500 per equity share for issuance of 3,27,11,000 equity shares to QIBs.

Future Lifestyle Fashions: Transfers its holding in various identified investee brands to its wholly-owned subsidiary FLFL Lifestyle Brands Ltd.

Shriram Transport Finance: Allotted NCDs worth Rs 1,100 crore on a private placement basis.

Minda Industries: Sucessfully raises Rs 300 crore through QIP. Initial size was of Rs 275 crore, but due to oversubscription of 2 times, the company exercised a greenshoe option to increase it to Rs 300 crore.