Index trend and stocks in action August 24, 2017

In the last trading session, Nifty opened the session with a gap up and thereafter, it traded in a narrow range for the most part of the trading session, however, in the last leg of trade Nifty extended gains to close above important psychological level of 9,850. On the daily chart, Nifty has formed a long bull candle, which indicates come back by the bulls. However, the level of 9,900 is a resistance and if Nifty sustains above this level strong resistance is placed around levels of 9,950. On the downside, supports are seen around levels of 9,800 and 9,750.

SREI Infrastructure Finance: Company’s subsidiary Bharat Road Network Limited (BRNL) has received the approval from Registrar of Companies, West Bengal in regard to the Red Herring Prospectus filed by BRNL. The issue will open for subscription on September 06, 2017 and shall close on September 08, 2017. 

Hindustan Copper: Operation and maintenance of Surda Mine and Mosaboni Concentrator plant of Hindustan Copper Ltd located at Ghatshila, Jharkhand has been re-started. 

Alembic Pharmaceuticals: The Company has today sold on slump sale basis its formulations manufacturing facility at Baddi, Dist. Solan (H.P) to Scott Edil Pharmacia Limited ('SEPL'), a company engaged in the business of pharmaceuticals products. 

Oricon Enterprises: Board approves sale of its subsidiary Shinrai Auto Services to Madhuban Motors for a consideration of Rs 28.35 crore.