Index trend and stocks in action April 03, 2018

After an extended weekend, the benchmark Nifty opened the session on a joyful note. In the second half of the session, Nifty extended its upmove and concluded the session above the 10,200-mark. The price action formed a bull candle. We expect a gap-down start to the trade owing to negative cues from global markets. Nifty has strong support zone placed in the region 10,075-10,097. On the other hand, the level of 10,250-10,280 may act as strong barrier on the upside.  

Escorts: Escorts increased shareholding in its subsidiary company Escorts Securities.

Motherson Sumi Systems: Motherson Sumi signed deal to acquire Reydel Automotive Group for $201 million from Cerberus. 

Akzo Nobel: Divestment of the Company's Specialty Chemicals Business to Akzo Nobel Chemicals India Private Limited has been completed with effect from close of business on 31 March 2018.

JSW Steel: JSW Steel with Nu Metal submits bids for Essar Steel

Neuland Laboratories: A meeting of the Board of Directors of the Company is scheduled to be held on Monday, April 9, 2018, inter alia, to consider a proposal for raising funds by way of issuance of equity shares or equity linked securities. 

Bharat Electronics: BEL achieves landmark turnover of more than Rs.10,000 Crores.

Galaxy Surfactants: USFDA inspection at Tarapur plants M3 and N46. Issued 4 observations for M3 plant and 9 observations for N46 plant.

Fortis Healthcare: Fortis Healthcare seeks shareholders nod for purchase of RHT Health’s assets.