Index trend and stocks in action August 28, 2017
DSIJ Intelligence-3 / 28 Aug 2017
Now going forward the level of 9,900-9,930 is a crucial resistance zone for the Nifty. A move above this resistance zone may help nifty to gain further momentum and it may scale up to levels of 9,980-10,000.
Nifty opened the previous trading session on a positive note and thereafter, it traded in a narrow band of 30-35 points and ended the day on a flat note. On the daily chart Nifty formed a small bear candle. Now going forward the level of 9,900-9,930 is a crucial resistance zone for the Nifty. A move above this resistance zone may help nifty to gain further momentum and it may scale up to levels of 9,980-10,000. Whereas, on the flip side, 9,830 may act as an immediate support and if this support is breached in that case next support is seen around 9,780.
DLF: DLF and GIC, Singapore’s sovereign wealth fund, have entered into a strategic partnership to develop a rental assets portfolio, under the consolidated portfolio of DLF Cyber City Developers Ltd (DCCDL), a subsidiary of DLF. The partnership enables sustainable, long-term growth of DCCDL’s rental business and creates an optimum structure for its rental business to improve efficiency, with long-term capital for growth of the portfolio.
Nandan Denim: Vedprakash Devkinandan Chiripal acquired 24,000 equity shares through BSE (open market) and 31,000 equity shares through NSE (open market) as on 24th August, 2017.
Meghmani Organics: Meghmani informs to have incorporated a wholly owned subsidiary namely, 'Meghmani Agrochemicals Private Limited.
Lumax Auto Technologies: Company has signed a Joint Venture Agreement with Francisco Albero S.A.U., Spain to manufacture and supply Oxygen Censors to the Indian automotive industry.
REC: Rural Electrification Corporation (REC) has entered into Memorandum of Understanding (MoU) with Maharashtra State Power Generation Company Limited (MAHAGENCO) for extending financial assistance to the tune of Rs. 13,000 crore and for providing required services. The above MoU is non-binding in nature and the financial assistance is subject to appraisal of the proposal(s) to be submitted by MAHAGENCO to REC and approval of Competent Authority.
Future Enterprises: Future Supply Chain Solutions files DRHP with SEBI.
HCL Technologies: Completed acquisition of Urban Fulfillment Services.
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