Index trend and stocks in action October 18, 2017

During the previous session, Nifty opened the session with a positive bias and it moved in a narrow range for the most part of the trading session and at the end of the day it ended the session on a flat note. Nifty managed to close above the long-term upward channel resistance around 10,220 for the second consecutive session. On the way up, immediate resistance is placed at a level of 10,250 followed by 10,300. Whereas, on the downside, supports are seen around 10,170-10,200 levels. 

Mahindra and Mahindra: The Red Herring Prospectus filed by subsidiary of the company Mahindra Logistics Limited has been approved. 

Nila Infrastructures: Nila Infrastructures Limited (“NILA”) together with its wholly-owned subsidiary Company Parmananday Superstructure Limited (“PSL”)  announced a Scheme of Arrangement (‘Scheme’) for demerger of the ‘Real Estate Undertaking’ of NILA into PSL and the resulting listing of PSL on the BSE Limited and the National Stock Exchange of India Limited subjected to requisite approval. 

GNFC: The company has now been informed by LSE (Luxembourg Stock Exchange) that in view of Termination of Depositary Agreement, they will de-list GDRs of the Company from their official list, which will be effective on December 12, 2017. 

Power Grid: Power Gird has been declared as the successful bidder under tariff-based Competitive Bidding to establish ‘Easter Region Strengthening Scheme- XXI’. 

Astazeneca Pharma: AstraZeneca Pharma India Limited has received import and market permission in Form 45 (Marketing Authorization) from the Drug Controller General of India for FDC of Dapagliflozin + Metformin Hydrochloride (Extended Release) film coated tablets (XIGDUO XR®).