Index trend and stocks in action April 28, 2017
Chirag Gothi / 28 Apr 2017
Now going forward, it needs to sustain above levels of 9370 to extend its up-move upto levels of 9400-9420. On the downside, support for the Nifty is seen around levels of 9280-9250. Stocks in action for the day are IGL, DCB Bank, Ashok Leyland, Jubilant LifeSciences, India Glycols, Sun Tv, Prism Cement.
On Thursday, Nifty opened the session on a flattish note with a positive bias, and later on it shifted into a sideways mode for the better part of the trading session. Some volatility was witnessed in the last half an hour of trading. Looking at the last two trading sessions' candlestick, there is a formation of tweezer top like pattern. A tweezer pattern occurs when two or more candlesticks touch the same top. Additionally, the Nifty is facing resistance near the upper end of the upward sloping channel. Now going forward, it needs to sustain above levels of 9370 to extend its up-move upto levels of 9400-9420. On the downside, support for the Nifty is seen around levels of 9280-9250.
IGL: Proposes to increase FII limit to 30 per cent, subject to shareholder approval.
DCB Bank: Private lender DCB Bank has raised about Rs 378.80 crore through QIP. The bank issued 21,770,000 equity shares at Rs 174 each.
Ashok Leyland: Receives approval from National Company Law Tribunal for amalgamation of Hinduja Foundries with itself.
Jubilant LifeSciences: Company does not have any specific plan for Singapore listing of pharma business.
India Glycols: Begins commercial operations of its freight terminal at Kashipur in Uttarakhand.
Sun TV: Launches new ‘Surya Comedy Channel', which is the first of its kind 24 hours Malayalam comedy channel, added to its bouquet of Malayalam channels, namely Surya TV, Surya Movies, Surya Music and Kochu TV. The new channel will be on air from April 29, 2017.
Prism Cement: This is to inform you that the Company has received Letter of Intent from Madhya Pradesh Government for allotment of cement grade limestone mining lease for 50 years in Villages, Chulhi and Majhiyar, District Satna, Madhya Pradesh, with about 23.6 million tons of reserves, subject to completion of formalities. The application for this Mining Lease was made under the earlier regulations, and was under processing by the State Government. The Mining Lease would be captive to the cement plants of the Company at Satna, Madhya Pradesh.
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