Index trend and stocks in action July 19, 2017

On Tuesday, Nifty opened the session with a significant downside gap and breached the important psychological mark of 9,800, briefly. Nifty made an attempt to recover during the day, however, it failed to do so as it showed weakness towards the end. Going forward, on the higher side, the zone of 9880-9900 will act as a hurdle for the Nifty and if it holds above this zone, the next resistance is seen at a swing high of 9,928. On the downside, 9,780 and 9,730 may act as a crucial support zone for the Nifty.

JM Financial: JM Financial Products Limited, a subsidiary of the company, acquires 24.35 lakh or 8.56 per cent shares of Spandana Sphoorty Financial Ltd.

Power Grid: POWERGRID Kala Amb Transmission Limited, wholly-owned subsidiary of Power Grid Corporation of India Limited, secured through Tariff Based Competitive Bidding (TBCB), has declared commissioning of its project on 12 July 2017.

Gammon Infrastructure Projects: Gammon Projects Developers Limited and Gammon Renewable Energy Infrastructure Projects Limited, wholly-owned subsidiaries of the company, have divested their entire shareholding held in Satluj Renewable Energy Private Limited, non-material and non-operational indirect subsidiary of the company.

Ashok Leyland: Ashok Leyland, flagship of the Hinduja Group, announced the formation of a strategic alliance with SUN Mobility. With this global partnership, it will leverage India’s innovation and engineering potential to develop truly world class electric mobility solutions.