Index trend and stocks in action September 08, 2017

During the last trading session, Nifty opened gap up and faced resistance at higher levels and traded in a narrow range throughout the trading session. However, Nifty ended above 9,900 mark with modest gains. In the last 7-8 trading session, Nifty has been trading in a narrow range of 9,850-9,990. A decisive break on either side of the range may give us a trending move. Hence, the level of 9,850 is a key support for the Nifty on the lower side, whereas, on the higher side the level of 9,990-10,000 is key resistance. If Nifty slips below level of 9,850, it may test levels of 9,780 and 9,730 in the near term. On the upside, if Nifty sustains above 9,990-10,000 mark it may start fresh leg of up-move towards levels of 10,140-10,250 in the near term.  

Vakrangee: Vakrangee announced its tie-up with Vasco Worldwide, an avant-garde travel service enterprise, to provide Travel Concierge services to its customers comprising of both independent and corporate travelers. 

TCS: TCS Partners with GE to Integrate Intelligence into Services Data Lake Platform. 

Bharat Financial Inclusion: Bharat Financial Inclusion today assigned a pool of receivables of an aggregative value of Rs 518.85 crore to one of the largest public sector banks on direct assignment basis as per the guidelines of the Reserve Bank of India. This is the second direct assignment traction in FY18. 

ICICI Bank: The price band for ICICI Lombard IPO has been fixed between Rs 651 to Rs 661 per equity share. 

Vista Pharmaceuticals: The Company’s formulation facility at Nalgonda (District), Telangana, India which was inspected by U.S.F.D.A during September 2016, has received establishment inspection report (EIR), thereby confirming the closure of the inspection. 

Majestic Auto: Company has shut down its 'Electric Motor Division' which was a part of its manufacturing business vertical at B-06, Ecotech-I Extension, Greater Noida-201308, due to lack of viable orders, Profitability & Capital Investment requirement for new technology.

Talwalkars: Promoter Mr. Vinayak Ratnakar Gawande jointly with Mrs. Madhuri Vinayak Gawande sell 1 lakh shares in open market. 

Mahindra and Mahindra: The Company has received intimation from Mahindra Lifespace Developers Limited, a listed subsidiary of the Company ('MLDL') that Mahindra Happinest Developers Private Limited has been incorporated as a wholly owned subsidiary of MLDL and in turn it has become a subsidiary of the Company.

Tata Elxsi: Tata Elxsi fixes September 19 as record date for bonus. 

CCL Products: FII/FPI limit raised to 40% from 24%. 

Bombay Dyeing: The Company has sold 48.457 acres of freehold land situated at Pune, Maharashtra for Rs 13.57 crores. 

Biocon: Biocon's Insulin’s facility in Malaysia Receives EU GMP Compliance Certificate.