Index trend and stocks in action July 24, 2017

On Friday, Nifty opened the session with positive bias and made an attempt to move higher, however, it slipped lower and buying in the last hour of trade helped Nifty closed above 9,900 mark. On the daily chart, Nifty has formed a small body positive candle with long lower wick, this pattern resembles ‘hanging man’ candlestick pattern. Going forward, Nifty may face challenge around levels of 9,930-9,940, however, above 9,940 if it holds it may unfold next leg of up move towards level of 10,000. On the downside, supports are seen around the levels of 9,850 and 9,800.

Lupin: Lupin's Goa facility inspection concluded by US FDA without any observations.

Kajaria Ceramics: The scheme of arrangement between Kajaria Securities Private Limited and Kajarai Ceramics Limited was approved by the shareholders, secured and unsecured creditors of the company with requisite majority.

Amtek Auto: Amtek Global Technologies Pte. Ltd., subsidiary of Amtek Auto Limited, has entered into an arrangement to sell its UK based subsidiaries' plants to Liberty Group.

Dhampur Sugar: The company has made a further investment of Rs 2 crores in Ehaat and it continues to be a wholly-owned subsidiary of the company.

Phillips Carbon: NCLT approved the scheme of amalgamation between the company and one of its wholly owned subsidiary.

AstraZeneca Pharma: Receipt of import and market permission in Form 45 (Marketing Authorization) from Drug Controller General of India for Osimertinib Tablets 40 mg and 80 mg (TagrissoTM).

Tata Sponge Iron: Approval for setting a steel plant of capacity upto 1.5 MTPA, in phases at Beleipada, Keonjhar District, Odisha, subject to the evaluation of the financial viability of the project.

Aarvee Denims and Exports: United India Insurance Company has settled the fire claim of Matoda Unit and paid Rs 1.46 crores in full and final settlement.