Index trend and stocks in action December 07, 2017

During the previous trading session, Nifty opened the session with a gap down and, thereafter, it consolidated in a range ahead of the RBI monetary policy. But, once the RBI policy was announced, which was largely in line with the expectations, it resulted in further weakness and Nifty ended the session near the day’s low. The day’s action formed a bear candle with a lower low and lower high signalling continuance of the corrective trend. Going ahead, on the downside, crucial support is placed around the level of 9,990 as it is 61.8% retracement level of the up-move from 9,688 to 10,490. On the flip-side, 10,090 and 10,150 will act as a key resistance areas for the Nifty.  

Infosys: The company has submitted a settlement application with the SEBI. The settlement application pertains to matters relating to the severance agreement entered into with the former CFO in October 2015. 

IRB Infrastructure: The CBI has filed a chargesheet with the Sessions Court, Pune in the matter of an alleged illegal purchase of government land in village Pimploli and nearby, Taluka Maval, District Pune by a subsidiary of the company. 

Quess Corp: Company received National Company Law Tribunal, Bengaluru Bench (NCLT) approval to acquire facility management and catering business of Manipal Integrated Services. 

Claris Lifesciences:  The board has taken on record the Letter and considered the Delisting Proposal to voluntary delist the equity shares of the company from the BSE, the only exchanged where the shares of the company are listed. 

Hatsun Agro Product: Considered and approved raising funds for the company by way of issue of securities to the existing equity shareholders of the company on a rights basis aggregating up to Rs. 900 crores ("Rights Issue").