Index trend and stocks in action August 02, 2017

Nifty after opening with a positive bias traded in a narrow range for the most part of the trading session, however in the late hours of trading, the index regained strength and the Nifty hit record closing high. On the daily chart, Nifty has formed a high wave type candlestick pattern. Going forward the level of 10,050 is a crucial support for the Nifty and the next support is seen around 10,000 levels. On the way up, Nifty is likely to face resistance around levels of 10,200 and 10,240. Today, we have RBI’s policy review meet and one may expect some volatility in the markets.

GSFC: Ammonia-IV plant is re-started after rectifying the problems.

Lupin: Received U.S. FDA approval for generic Lidex ointment.

Tube Investment of India: Company informed that the Scheme of Arrangement (Demerger) between the Company and TI Financial Holding has become effective from 1st August 2017.

TV Today Network: The Company has completed the acquisition process of 10,000 equity shares of Vibgyor Broadcasting Private Limited (VBPL) of Rs. 10/- each (representing 100 per cent of paid-up share capital of VBPL) at par. VBPL has become a wholly-owned subsidiary of the Company.

Global Offshore: The Company's subsidiary, Global Offshore Services B.V. sold one of its vessels, M.V. Shergar at a loss in view of the adverse conditions prevailing in the industry.

Bharti Airtel: Airtel Payments Bank, India’s first payments bank, announced a strategic partnership with Hindustan Petroleum Corporation Limited (HPCL) to give a further boost to digital payments in the country and to add to customer convenience.

Hindustan Copper: Government of India to sell 3.7 crore shares or 4 per cent stake through OFS. Floor price set at Rs 64.75 per share.