Index trend and stocks in action April 10, 2017

On Friday, the Nifty opened the session with a downside gap, and thereon, it shifted into sideways range for the better part of the trading session. However, during the last hour of trading, a sudden bout of selling emerged and dragged Nifty below 9200 mark, and eventually it ended near day’s low. Now going forward, Nifty is approaching towards levels of 9160 where the 13-day EMA is placed, and in the past we had seen the 13-day EMA has provided support to the Nifty. Hence, the level of 9150-9160 is a crucial support level, and on breach of this support level, Nifty may slide further up to levels of 9100-9080. On the upside, levels of 9220-9245 are likely to act as a resistance level.

Apollo Tyres: Commences commercial production at its manufacturing facility in Hungary from April 7, 2017.

Bank of Maharashtra: To hold EGM on May 3, 2017 for shareholders' approval to issue equity shares to Government of India via preferential allotment.

Lupin: Received U.S. FDA approval for generic Wellburtin XL Tablets, 150 and 300 mg.

Neuland Laboratories: The Company received two observations under form 483 from the U.S. FDA for its manufacturing facility in Hyderabad.

Cosmo Films: Board approves setting up of new production line for specialised polyester film at Aurangabad. Capacity of the new production line to be 36,000 MT per annum.

Divi's Laboratories: U.S. FDA exempts some more products manufactured at the company's unit-II in Visakhapatnam from the import alert issued under clauses 66-40 and 99-32 of the regulations.

Religare Enterprises: Signed a definitive agreement with a consortium of investors led by True North Managers, an Indian based private equity fund (formerly known as Indian Value Fund Advisors), to divest its entire stake in Religare Health Insurance Company Limited (RHI).