Index trend and stocks in action July 05, 2017

On Tuesday, Nifty opened the session with moderate gains but it gave up intra-days gains to end with minor losses, weighed down by global geopolitical tensions. On the daily chart of the Nifty, there is a formation of ‘Bearish Counter Attack Lines’ like pattern. Nifty index is finding stiff resistance around the levels of 9650-9660, and if it sustains above this zone, it may scale higher up to levels of 9700-9710. On the flip side, the level of 9580 may act as an immediate support zone for the Nifty, and if it slips below this support zone, the next supports are seen around the levels of 9550 and 9510.

ABC Bearings: The Board of Directors of ABC Bearings Limited at its meeting held on 4th July, 2017 has approved merger with Timken India subject to the approval of the shareholders and creditors of ABC Bearings Limited, approval of the regulatory authorities and the sanction of the National Company Law Tribunal.

Mahindra and Mahindra: The company announced revised prices of its vehicles pursuant to the implementation of GST, with immediate effect. The prices of vehicles for end-customers on large UVs and SUVs have been reduced by an average of 6.9 percent, while those that come under small car segment have been reduced by an average of 1.4 percent. Similarly, end-customer prices have been reduced by an average of 1.1 percent for small commercial vehicles and 0.5 percent for LCVs and HCVs.

Mcnally Bharat Engineering: The company have received an order for Construction of Entry/Exit structure of Elamkulam Station and Balance Works in the Main Station Building at Elamkulam from Delhi Metro Rail Corporation Limited for a value of Rs. 43.49 Crores (approx).

Delta Corp: Delta Corp has received the certified copy of the order of National Company Law Tribunal approving the scheme of amalgamation of Gauss Networks Private Limited with Delta Corp.

HPCL: The company has received shareholder approval for 1:2 bonus issue.

Yes Bank: Santander signs a new agreement with Yes Bank to boost UK-India trade and local business networking opportunities.