Index trend and stocks in action June 29, 2017

On Wednesday, Nifty started off the session on a flat note, but it soon slipped into intra-day decline and thereafter, it traded in a narrow band and ended the day with nominal loss of around 20 points. There is a formation of identical low, and if we see the candles of the last couple of sessions, the low stands near 9473-9474. Hence, the level of 9473-9474 may act as an immediate support level, and if it holds below this level, it may slide further up to the levels of 9450 and 9420. On the upside, the level of 9550 may act as a strong resistance level for the Nifty.

LT Foods: LT Foods expands its global footprint further with a new rice processing plant in Europe at Rotterdam, Netherlands. 

Wipro: The Company announced that locals now form over 50 per cent of its U.S workforce. 

Mindtree: Board approves buyback of 43.2 lakh equity shares or 2.57 per cent of the total shares at a price of Rs 625 each aggregating to Rs 270 crore. 

Fortis Healthcare: Shareholders approve increase in FII investment limit to 74 per cent from 24 per cent. 

Godrej Industries: Proposed Initial public offering of equity shares of subsidiary, Godrej Agrovet Limited (GAVL). 

Seamec: Charter of vessel SEAMEC III with L&T Hydrocarbon Engineering ended.

RCF: Government to divest 5 per cent stake in the Company. Offer-for-sale floor price set at Rs 74.25 per share. Government to raise Rs 200 crore from stake sale.