Index trend and stocks in action June 12, 2018
DSIJ Intelligence-3Categories: Pre Morning
Going ahead, the zone of 10,835-10,850 will continue to offer stiff resistance and a decisive move above this zone may lead to further upside up to the levels of 10,920-10,935. On the way down, supports may come in at 10,750, followed by 10,730. Stocks in news: Infosys, ICICI Bank, Fortis Healthcare, Strides Shasun, Orchid Pharma, Kridhan Infra, Usha Martin and KDDL.
The NSE benchmark Nifty kicked off the week on a positive note and extended its upmove to register fresh swing high of 10,850. However, in the second half of the trading session, Nifty witnessed a roller-coaster ride and it almost pared the entire gains of the day and ended flat at 10,787. The price action of the day formed a small body positive candle with long upper shadow; this pattern resembles formation of shooting star-type candle pattern. Going ahead, the zone of 10,835-10,850 will continue to offer stiff resistance and a decisive move above this zone may lead to further upside up to the levels of 10,920-10,935. On the way down, supports may come in at 10,750, followed by 10,730.
Infosys: Infosys has announced voluntary delisting of its American depository shares from Euronext Paris and Euronext London .
ICICI Bank: The bank has so far not received any specific communication from the US SEC in relation to the allegations levied against on its Managing Director & CEO.
Fortis Healthcare: Fortis Healthcare board has deferred announcement of its financial results to June 25.
Strides Shasun: The company has received USFDA approval for oseltamivir phosphate capsules.
Orchid Pharma: The company has received EU GMP certification for its Alathur facility.
Kridhan Infra: Kridhan Infra has announced that its associate company Vijay Nirman Company has won a new order worth Rs. 180 crore.
Usha Martin: The board of the company has decided to explore sale of its steel business in order to achieve the objective of deleveraging the company.
KDDL: KDDL plans to raise FPI/FII limit up to 49 per cent and to raise Rs. 30 crore via equity.