Index trend and stocks in action August 07, 2017

Nifty started the last session on a cautious note and thereafter it shifted to sideways range movement for the most part of the trading session. However, bulls bounced back strongly in the second half of trading session and Nifty ended the day near day’s high. On the daily chart, Nifty has formed a bullish piercing like candlestick pattern. Going forward, the level of 10,000 will be a crucial support level and next major support is placed in the band of 9,920-9,930. On the upside, immediate resistance is placed in the region of 10,100 and next resistance around 10,140.

Jubilant Lifesciences: Jubilant receives ANDA approval for Tizanidine Hydrochloride Capsules.

Autoline Industries: Company initiative to achieve the operational efficiency, cost reduction and to reduce the debt, the company has taken one more major step by way of consolidating one of its manufacturing facility situated at MIDC Pimpri, Pune to its Chakan Units, Pune. The company has entered into Memorandum of Understanding (MOU) on August 3, 2017 with the prospective buyer to transfer the said land and buildings thereon ('immovable property'). The company will utilise the sale proceeds to settle the debt that has a charge on the above said immovable property and reduce overall debt exposure of the company.

Adani Transmission: Company has acquired 100 per cent Equity Share Capital of two SPV Companies namely, Barmer Power Transmission Service Limited (BPTSL) and Thar Power Transmission Service Limited (TPTSL).

Atlas Cycle: Board approves sub-division of the equity shares of the company, subject to the approval of the shareholders. Split Ratio 1:2.

ONGC: ONGC buys 80 per cent stake of GSPC and takes over operatorship rights in Block KG-OSN-2001/3.