Index trend and stocks in action April 21, 2017
Chirag Gothi / 21 Apr 2017
Now going forward, immediate resistance for the Nifty is placed around levels of 9165-9175, and if it manages to hold levels of 9165-9175 it's likely to scale up to levels of 9200-9220. Stocks in action for the day are Bajaj Finance, Reliance Industries, Radico Khaitan, Tata Steel, Brigade Eneterprises, Acc, HDFC Bank.
On Thursday, Nifty opened the session with positive bias, and thereafter, it extended the gains. However, during the afternoon session there was some profit booking, but in the last hour of trade Nifty regained strength, and ended the session near day’s high. On the daily chart, Nifty has formed a small body positive candle. Now going forward, immediate resistance for the Nifty is placed around levels of 9165-9175, and if it manages to hold levels of 9165-9175 it's likely to scale up to levels of 9200-9220. On the downside, the zone of 9070-9100 is a strong support zone for the Nifty.
Tata Steel: Based on the review, and pursuant to the existing shareholders' approval, the board approved issue of debt securities of upto Rs 9,000 crore in the form either of Non-Convertible Debentures on private placement basis or Foreign Currency or Rupee Denominated Bonds or a combination thereof in one or more tranches. The funds will primarily be deployed towards re-financing the existing debt, capex/working capital requirement and general corporate purposes.
Brigade Enterprises: A meeting of board of directors of the company is scheduled on Tuesday, April 25, 2017 (“Board Meeting”) to discuss the current state of the real estate industry and explore fund raising options.
Bajaj Finance: The Company has issued 5447 Secured Redeemable Non-Convertible Debentures of face value Rs 10 lakh each, aggregating to Rs 544.70 crore.
HDFC Bank and ACC: HDFC Bank and ACC will announce their results for the quarter ended March 31, 2017.
Reliance Industries: Reliance Industries commissioned Para-xylene (PX) phase 2. Reliance Industries to emerge as the second largest producer of Para-xylene (PX) in the world.
Radico Khaitan: Madhuri, wife of Madhusudan Kela, buys 7 lakh shares at Rs 117 per share.
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