Index trend and stocks in action December 08, 2017

During the previous trading session, Nifty opened in the green and extended its upmove throughout the day to end the session near the high points of the day. The price action resulted in formation of a sizeable bull candle and this formation has occurred after witnessing a down leg of around 7 trading sessions. Going forward, a follow through move above Thursday’s high of 10,183 could lead to further momentum up to the levels of 10,230 and 10,250, whereas, on the way down, supports are placed around 10,100 and 10,080 levels.

Suzlon: The company has arrived at an amicable solution with the workers and accordingly the lockout at Padubidri Rotor blade manufacturing unit (RBU) has been lifted. 

Prime Securities: Primesec Investments Limited, a wholly-owned subsidiary of the company, which was involved in Investments Activities in the past, will now be providing Advisory Services in the following areas: 1. Restructuring of Corporate Debt, 2. Restructuring of Corporate Entities, especially cases involving NCLT and 3. Placement of Secondary Debt and Equity. 

GAIL: Gail has awarded laying contract for 520 kms pipeline from Dobhi (in Bihar) to Durgapur (in West Bengal). 

Federal Bank: Board of directors, accorded in principle approval for investment to be done by strategic investor, in the wholly owned subsidiary of the Bank, Fedbank Financial Services. 

TVS Motor: Bought 14.8% stake in electric two-wheeler company Ultraviolette. 

Emami: Company has agreed to make a strategic investment in Helios Lifestyle Private Limited by subscribing to equity shares equivalent to 30% of the issued and paid-up share capital of the company in two tranches.