Index trend and stocks in action July 06, 2017

On Wednesday, Nifty opened the session on a flattish note and later shifted into sideways move with positive bias for the major part of trading session, but it managed to close near the day’s high. On the daily chart, we observe a formation of Inside bar as Nifty traded within the boundaries of previous trading session. Nifty, in the last couple of trading sessions, is seen consolidating near to 78.6 per cent retracement of the previous fall. Now, going forward, the zone of 9650-9660 is key resistance level, and if the index sustains above this zone, it may scale up to levels of 9700-9710. On the downside, the level of 9600 may act as an immediate support level and the next support is seen at 9550 level. 

IRB Infrastructure Developers: Udaipur Tollway, a wholly-owned subsidiary of the company, has successfully achieved Financial Closure for its Udaipur-Gujarat Border 6 Laning BOT project.

Om Metals: The company has divested its stake in its Cineplex division at approved valuation.

NBCC: The company has secured total business worth Rs 630 crores in the month of June.

InterGlobe Aviation: Company is hosting a conference call to discuss its expression of interest in the privatisation of Air India as well as to discuss company’s plans and strategy regarding long-haul, international operations.

RCF: The company has issued Commercial Paper for Rs 120 crore on 5th July 2017, in favour of ICICI Bank Limited, having a maturity date of 29th September 2017.

KEI Industries: As a part of the backward integration, company has invested approximately Rs 190.14 lacs in plant, machinery & accessories for setting up PVC manufacturing plant at a new rented location at Silvassa.