Index trend and stocks in action November 13, 2017

During the last trading session of the previous week, Nifty opened the session on a flat note and traded subdued in the first half of the trading session. However, volatility expanded in the second half of trading session as index swung sharply in both the directions and at the end of the day ending the session with modest gains.  The price action resulted in a high wave type candle, usually, formation of such candle after a reasonable decline indicates as a slowing down of downside momentum, which could give an opportunity for bulls to bounce back. For the day, the gap area formed on October 25, 2017 placed around 10,240 region would act as a strong support for the index. Whereas, on the upside, the level of 10,380 would act as a resistance level, holding above 10,380 could result in an upside up to levels of 10,450 followed by 10,500.   
 
Good Year:  Pertaining to the rising pollution levels in NCR region and a s per the NGT Order and Public Notice 'All the industrial activity in NCR of Delhi which releases emission would also not be carried till the next date of hearing' i.e. November 14, 2017. Since company’s manufacturing plant is situated in NCR of Delhi i.e. Ballabgarh (Haryana), therefore, company is shutting down their plant in compliance of the directive issued by NGT effective today i.e. November 10, 2017 till further instructions and directions, as applicable.  

HSIL: The Board of Directors of the Company, in its meeting held, considered and approved the scheme provides for the demerger of retail and building products business.  

Welspun Enterprises: National Highways Authority of India (NHAI) and Welspun Aunta-Simaria Project Private Limited ('WASPPL'), wherein Welspun Enterprises Limited has subscribed 74% of the initial equity share capital, have executed the concession agreement for six laning of Aunta-Simaria (Ganga Bridge with approach roads) section of NH-31 at a project cost of Rs 1,161 crore.  

Jain Irrigation: Board has asked management to explore IPO of its food subsidiary “Jain Farm Fresh Foods Limited” in the next fiscal year.  

Bank of Maharashtra: Receives SEBI nod to raise Rs 800 crore by way of QIP.  

Ipca Labs: ‘The Global Fund' has vide their e-mail of even date, informed us that we are now selected as their Panel Supplier of anti-malarial medicines for the Global Fund Pooled Procurement Mechanism and for the Private Sector Co-Payment Mechanism for an initial period of three years.  

Mcleod Russel: Company's decide to participate in a joint venture with Eveready Industries India Limited for development of packet tea business.