Index trend and stocks in action May 03, 2017
Chirag Gothi / 03 May 2017
Now going forward Nifty has support placed around levels of 9270-60 and if nifty slips below these level its likely to open up for correction up to levels of 9220. Stocks in action for the day are Godrej Properties, Reliance Infrastructure, Kitex Garments, Sun Pharma Advanced Research Company, Rushil Decor, Speciality Restaurants, Punjab & Sind Bank.
On Tuesday, Nifty opened the session on a positive note and it moved higher to touch level of 9352 in the early morning session,. However, sharp intraday decline triggered and Nifty touched an intraday low of 9269.90. Recovery was seen in the latter half of trading session and Nifty ended the session with marginal gains. On the daily chart of nifty a small negative candle has been formed with long lower shadow. Now going forward Nifty has support placed around levels of 9270-60 and if nifty slips below these level its likely to open up for correction up to levels of 9220. On the upside, the level of 9350-9370 is likely to act as a strong resistance zone.
Godrej Properties: one of India’s leading real estate developers Godrej Properties announced that it has sold over 1,000 apartments across three new projects launches.
Reliance Infrastructure: Reliance Infrastructure InViT Fund has filed DRHP with SEBI and Exchanges.
Kitex Garments: The Board of Directors at its meeting held on April 28, 2017 has approved further investment upto $ 1.5 million in the capital of Kitex USA LLC for the FY 2017-18.
Sun Pharma Advanced Research Company: To consider fund raising through issue of equity or convertible warrants to promoters on May 5, 2017.
Rushil Decor: There is no new regulation allowing conducting wood business in Laos at this moment. So, at last company has decided that company will not wait further and has put off the idea about establishment of business in the country LAO PDR.
Speciality Restaurants: Suspension of operations of "Cafe Mezzuna" restaurant located at St. Marks Road, Bengaluru by Speciality Restaurants Limited.
Punjab & Sind Bank: Company has informed that issue of Basel-III compliant AT-1 Bonds aggregating up to Rs.1,000 crore was opened for bidding on Electronic Bidding Platform (EBP) of National Stock Exchange of India Ltd. on 02.05.2017. The issue was fully subscribed and bids for Rs.1,000 crore with coupon of 10.90 per cent were accepted.
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