Index trend and stocks in action June 02, 2017
Chirag Gothi / 02 Jun 2017
Now going forward Nifty needs to hold above levels of 9650 to witness fresh breakout which may take index up to levels of 9700-9730. On the downside the zone of 9550 is a key support for the Nifty.
On Thursday, Nifty opened the session on a negative note and thereafter, it was caught in a sideways trend throughout the session. At the end of the day, Nifty ended the session with minor loss of about 5 points. On the daily chart there was formation of small positive candle. Now going forward Nifty needs to hold above levels of 9650 to witness fresh breakout which may take index up to levels of 9700-9730. On the downside the zone of 9550 is a key support for the Nifty.
TVS Motor: The Company reported a growth of 15.7 per cent in sales during the month of May 2017, at 282,007 units as compared to 243,783 units sold during the month of May 2016.
Bharti Airtel: Bharti Airtel receives SEBI and Stock Exchange approvals for the proposed merger with Telenor India.
NBCC: Successfully e-auctioned upcoming commercial space at Nauroji Nagar, New Delhi which would generate inflows worth Rs 11,000 crore (approx.) in stages as per agreement.
Reliance Communication: Fitch Ratings (Fitch), International rating agency, has revised Company's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) to 'CCC' from 'B+' and downgraded the rating on USD300 million 6.5% senior secured notes due 2020 to 'CCC/RR4' from 'B+/RR4'.
Bayer Cropscience: To consider buyback of shares at a board meeting on June 6.
Hindustan Copper: Hindustan Copper has inaugurated Banwas Mine located at Khetri Copper Complex, Rajasthan after completion of mine construction.
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