Index trend and stocks in action June 19, 2017

On Friday, Nifty opened the session with positive bias and made an attempt to go higher during the morning trade. However, later on it moved in a narrow range with weak bias for better part of the session. On the daily chart, Nifty formed a doji like candlestick pattern, which indicates indecision among the market participants. However, now going forward crucial support for Nifty is 9,550 and if this supported is breached next support is around level of 9,500. On the flip side, Nifty may face resistance around levels of 9,650.

Kesoram Industries: IndusInd Bank has acquired 75,00,000 Equity shares of Rs 10 each, pursuant to exercise of conversion option on ‘Optionally Convertible Redeemable Preference Shares’, i.e. conversion of each optionally convertible preference share held by the bank into 10 Equity shares of Kesoram Industries at a price of Rs 120 per Equity share.

NTPC: The company has informed that the 225 MW out of 250 MW of Mandsaur Solar Power Project of NTPC Limited has been commissioned.  With this, the installed capacity of NTPC's solar power projects has become 845 MW. The total installed capacity of NTPC on standalone basis has become 44,419 MW and that of NTPC group has become 51,635 MW.

Neucleus software: To buyback 10.3 per cent of paid-up equity capital at Rs 350 per share.

Dr Reddy’s Laboratories: The company has informed that the audit of our formulations Srikakulam Plant (SEZ) Unit I, Andhra Pradesh, by the US FDA, has been completed. We have been issued a Form 483 with one observation, which we are addressing. 

Wheels India: Wheels India Limited and Topy Industries, Japan announce a strategic partnership in India.

Bank of Maharashtra: Reserve Bank of India has initiated Prompt Corrective Action for Bank of Maharashtra in view of high net NPA.

Asian Paint: Berger International, Singapore, an indirect subsidiary of the company divests entire stake in overseas holding of Lewis Berger.