Index trend and stocks in action July 03, 2017

On Friday, Nifty started off the session in the negative terrain and slipped into further intra-day weakness during early part of the session. However, in the second half of trading session, it staged a smart recovery to end the session with minor gains. On the daily chart, Nifty has formed a positive candle from the recent swing lows. Now, going forward, the zone of 9440-9460 is a crucial support for the Nifty; firstly, the 50-day EMA is placed near this zone and, secondly, recent swing low which was formed on Friday is placed around 9448.75. A decisive move below this support zone may open gates for further correction up to the levels of 9390-9350. On the upside, the levels of 9550-9560 may act as an immediate resistance zone, and if Nifty sustains above this zone, it may scale up to the levels of 9610-9650.

Tata Steel: Sales in Q1 FY18 registered a volume growth of 28 per cent over same period of last year (largely due to Kalinganagar ramp-up). Q1 FY18 exports volume grew 17 times over Q1 FY17. Launched a first-of-its-kind retail outlet ‘Tata Steel Sampoorna’, wherein all the retail brands will be available to serve rural consumers.

Hero MotoCorp: The Company is passing on the benefit of GST to its customers with a reduction in the prices of model across its product portfolio in most of the states. The quantum of reduction ranges from Rs 400 to Rs 1800 on mass-selling models. While, some of the premium segment models would see a reduction of up to Rs 4000 in certain markets. 

Infosys: To divest its investment in Cloudyn Software Ltd. for $4.4 million to Microsoft. 

Stride Shasun: Gets approval from the Competition Commission of India (CCI) on the composite scheme of arrangement with SeQuent Scientific Ltd. and Solara Active Pharma Sciences Ltd. along with their respective shareholders and creditors.

Century Plyboards (India): Due to certain unavoidable circumstances/administrative reasons, the Company is unable to hold the 36th Annual General Meeting which was scheduled to be held on 9th August, 2017. Accordingly, the Company shall intimate the rescheduled Annual General Meeting (AGM) date shortly. 

Coal India: Production in June at 39.66 million tonnes compared to the target of 43.18 million tonnes. 

Adani Port: Incorporates wholly-owned subsidiary Adani International Terminals (AITPL). 

Tata Motors: Overall sales volume in June down 9 per cent to 40,358 units. Domestic sales down 5 per cent to 36,854 units.

Maruti Suzuki India: Sales in June up 7.6 per cent to 1,06,394 units. Domestic sales up 1.2 percent to 93,263 units. Exports up 96 per cent to 13,131 units.  

Mahindra and Mahindra: June sales volume down 8.4 per cent to 35,176 units. Overall sales for Q1FY18 down 4 per cent to 1,16,968 units. Tractor sales volume up 9 per cent in June to 32,933 units.