Index trend and stocks in action May 16, 2017
Chirag Gothi / 16 May 2017
On the upside immediate resistance is likely around levels of 9455 and next resistance is around levels of 9490. Stocks in action for the day are Skipper, Brigade Enterprises, Atul, Websol Energy System, Indo Count Industries, Premier Explosives.
On Monday, Nifty opened the session on a positive note and thereafter, it traded in narrow range for the most part of the trading session, however, buying interest was seen in the half an hour of trading session and Nifty closed near day’s high. Now going forward the level of 9420 is likely to act as an immediate support level and if nifty breaches this support zone next level where its likely to take support is around level of 9400. On the upside immediate resistance is likely around levels of 9455 and next resistance is around levels of 9490.
Skipper: The Company has secured fresh new orders worth approx Rs.376.48 crores from national & Rs. 123.73 crores from international markets for supply of Power Transmission Towers & Telecom Poles.
Brigade Enterprises: Brigade Group leases 3.75L sq.ft. Office space to TCS.
Atul: AkzoNobel and Atul to start MCA production in India in 2019.
Websol Energy System: The Company has received 'NO Due Certificate' from ARCIL on payment of the entire settlement amount.
Premier Explosives: Qualified institutional placement (QIP) issue opened on May 15 at a floor price of Rs 414.97 per share.
Indo Count Industries: The company has increased its capacity to 90 million meters from the current 68 million meters.
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