Index trend and stocks in action August 01, 2017
DSIJ Intelligence-3 / 01 Aug 2017
Once Nifty sustains above this zone it can march towards levels of 10,240-10,280 in the near term. On the downside, supports are seen at levels of 10,000 and 9940.
Nifty started the week on a positive note and thereafter it consolidated in a narrow band, however, momentum picked as the day progressed on Monday. Nifty ended the day with gains of about 63 points at 10,077. If we observe the candle pattern of the last three trading session, there is a formation of ‘Morning star’ like candlestick pattern, however, it’s not a classical one. Going forward, the level of 10,115-10,125 will act as a hurdle for the Nifty. Once Nifty sustains above this zone it can march towards levels of 10,240-10,280 in the near term. On the downside, supports are seen at levels of 10,000 and 9,940.
Biocon: Company issue statement in response to media queries regarding the USFDA visit, the company’s spokesperson said this USFDA visit was a part of the regular periodic audit for a small molecule injectable. The company has responded to the regulator with a corrective and preventive action plan (CAPA) and is on track to implement them in a timely manner.
Vascon Engineering: Vascon Engineers has received Letter of Award amounting to Rs 80.41 crores.
VIP Clothing: Company to raise Rs 50 crore by way of rights issue.
Sobha Developers: Board to consider a proposal for buyback of equity shares of the company, for an aggregate amount up to Rs 62 crores.
Satin Creditcare network: Company has invested Rs 6.99 crore in its subsidiary Taraashna Services.
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