Index trend and stocks in action June 09, 2017

On Thursday, Nifty opened the session on a positive note and thereafter, it slipped into negative territory and later on it moved into a range bound mode. On the daily chart Nifty had formed a small negative candle. Now going forward the zone of 9620-9630 is an immediate support level for the nifty, if nifty slips below this zone than a trending move may be seen which may take nifty up to levels of 9570. On the upside, Nifty has resistance placed in the zone of 9700-9710, if it holds above level of 9700-9710 it may scale up to levels of 9750.

Repco Home Finance: The Company proposes to raise Rs 100 crore by issue of Secured, Redeemable, Non-Convertible Debentures (SRNCD), subject to the approval of the Board of Directors and the proposal will be circulated to the Board for its consideration. 

Greenply Industries: Subsidiary Greenply Gabon SA, commenced commercial production of Veneer.

Hester Biosciences: Board approves the investment of USD 3 million in their wholly-owned African Subsidiary.

IFB Agro Industries: The Company has incorporated a wholly-owned subsidiary in the name and style as 'IFB Agro Marine (FZE)' a limited liability-free zone establishment.

Hindustan Copper: The Company has received Notice from M/s India Resources Limited, Special Purpose Vehicle of M/s Eastern Goldfields Ltd stating to have purportedly terminated the contract for operation and maintenance of Surda mine located at Ghatshila, Jharkhand with effect from 'C' Shift of 2.6.2017.

Cipla: Saba Investment Limited, a subsidiary of the company, has entered into an agreement to sell its entire 99 per cent equity stake in Al Jabal for Drugs and Medical Appliances Company Limited, Yemen to Mr. Khalil Ghaleb Ali Al-Jabal.

Ujaas Energy:  UJAAS has received a letter of award from Numaligarh Refinery Limited (NRL) for supply, installation, testing and commissioning of 1Mwp Solar Power Plant at NRL.