Index trend and stocks in action April 18, 2017

On Monday, Nifty started off the session on a flattish note, and it slipped into minor decline during the afternoon session. However, later on, it moved into a narrow range and ended the session with modest losses. On the daily chart, Nifty formed a ‘Doji’ like candlestick pattern. It did slip below the 21-day EMA during the intraday session; however, it did manage to hold the 21-day EMA on closing basis. Now going forward, Nifty needs to sustain above levels of 9160-9165, and if it manages to trade and hold above levels of 9160-9165 it’s likely to scale up to levels of 9200. On the downside, the zone of 9100-9125 is a strong support area for the Nifty. 

Gruh Finance: Gruh Finance has registered an increase of 25.7 per cent in its net profit at Rs 110.45 crore for the fourth quarter ended March 31, 2017. The company had reported net profit of Rs 87.82 crore during the same period in 2015-2016.

TCS: TCS will be in focus today as the IT major is slated to post its results for the January-March quarter.

Vakrangee: Vakrangee to provide GST registration, filing of returns, payment and other value added services through its Vakrangee Kendra outlets.

Suzlon Energy: Suzlon Energy has installed and commissioned 2 renewable projects of 50.40 MW each for NALCO at Gondikota in Andhra Pradesh and Jath in Maharashtra. Both the projects have the potential to provide power to over 54,000 households and reduce 0.20 million tonnes of CO2 emission per annum.

Hindustan Petroleum Corporation: Hindustan Petroleum Corporation Ltd., has informed BSE that HPCL Board at its meeting held on April 17, 2017 has approved resumption of Rajasthan Refinery Project and regarding signing of revised MoU with the Government of Rajasthan for implementation of the project.