Index trend and stocks in action October 10, 2017

During the previous trading session, Nifty opened the session on a positive note and in morning trade it crossed the 10,000 psychological mark, however, it failed to sustain at higher levels and closed the session near the opening level. The price action of the day resulted in formation of ‘Doji’ candlestick pattern, which indicates uncertainty among traders’ fraternity. For the day trading, 10,000-10,040 would be seen as immediate hurdles, whereas, on the downside, supports would be seen at 9,950 any sustainable move below 9,950 would result into some weakness towards 9,930 and 9,880 levels.      

Infosys: The buyback committee has approved and fixed November 1, 2017 to be the record date for determining the entitlement and the names of the equity shareholder, to whom letter of offer will be sent and will be eligible to participate in the buyback.

Coromandel International: Indian Ratings and Research has provided IND A1+ rating for the Commercial Paper (CP) Programme.

Piramal Enterprises: Meeting of Board of Directors of the company will be held on 12th October, 2017 to consider various fund raising options and scheme of amalgamation of wholly-owned subsidiaries of the company, Piramal Finance Limited (PFL) and Piramal Capital Limited with Piramal Housing Finance Private Limited, wholly-owned subsidiary of PFL.

Ujjivan Financial Services: Hiren Shah has resigned from the company from the post of ‘Chief Financial Officer’. Consequently, he ceases to be one of the key managerial personnel of the company.

Lupin: Company announced that it has received final approval for from the USFDA to market a generic version Corgard.