Index trend and stocks in action December 14, 2017

During the previous trading session, Nifty opened the session in the negative terrain, thereby mirroring global cues. However, it witnessed sharp upmove in the early half of trading session, but in the later half, heavy sell-off resulted in Nifty closing below the 10,200-mark. The price action resulted in formation of bear candle with upper and lower wick, which indicates extreme volatility. Going forward, a follow through move below Wednesday’s low, i.e. 10,170, would result in further correction up to levels of 10,100-10,120. On the other hand, the level of 10,240, followed by 10,280, would act as stiff resistances for the index.  

Claris Lifesciences:  The Board of Directors of Claris Lifesciences Limited will meet on December 16, 2017 to consider and approve the proposal for voluntary delisting of the equity shares of the company from BSE. 

Mahindra and Mahindra: Mahindra Overseas Investment Company (Mauritius) Ltd, a wholly-owned subsidiary of the company (“MOICML”) has executed a sale of 64,50,000 shares representing 5 per cent of the Share Capital of CIE Automotive S.A., a company incorporated in Spain and quoted on the Madrid and Bilbao Stock Exchanges at an average gross price of Euro 23.50 per share, aggregating Euro 151.58 million. 

Ruchi Soya Industries: IDBI Bank has declared the company as a Wilful Defaulter. 

Tata Communications: Company to transfer surplus land to Hemisphere Properties which will be subsequently listed. 

PVR: PVR signed a strategic deal with CJ 4DPLEX, with this PVR will add 16 more 4DX screens at its cinemas.