Index trend and stocks in action April 25, 2017

On Monday, Nifty started the session on a positive note, and slowly and steadily it built on the momentum, scaling above the important psychological mark of 9200. At the end of the session, the Nifty surged over 1 per cent. On the daily chart, it has formed a long range bullish candle, and this suggests that bulls have made a comeback. Now going forward, the level of 9165 is a key support area for Nifty, and on the upside, it is likely to face resistance in the zone of 9270-9280. However, if it holds above levels of 9270-9280, it’s likely to open up for an up-move up to levels of 9330. The Daily RSI has turned up, and it has regained levels of 60. If RSI moves above levels of 60 it could mean continuation of upside momentum. 

Strides Shasun: Completion of US FDA inspection at the API Facility of the Company at Cuddalore with Zero 483 observations.

Reliance Industries: Consolidated net profit of Reliance Industries grew 11.54 per cent to Rs 8053 crore for the quarter ended March 31, 2017 against Rs 7220 crore for the corresponding quarter last year.

DCB Bank: Looks to raise Rs 400 crore through QIP at a floor price of Rs 177.39.

Peninsula Land: Proposes to raise Rs 2,500 crore via non-convertible debentures on a private placement basis.

JM Financial:The board of directors of JM Financial Asset Management Limited, a subsidiary of JM Financial Limited, at its meeting held today, has approved the buy-back of up to 10 per cent of the outstanding equity capital subject to the necessary approvals as may be required.