Index trend and stocks in action June 13, 2018
In the coming session, a follow-through move above Tuesday’s session high of 10,857 may take Nifty towards the levels of 10,910-10,930. On the downside, the zone of 10,770-10,780 is a crucial support zone. Stocks in news: Wipro, TCS, Bharat Forge, Page Industries, Federal Bank, Sun Pharma, Videocon Industries, Reliance Industries, PNB and Essel Propack.
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The NSE benchmark Nifty opened on an optimistic note and later extended its upmove to end near the important psychological mark of 10,850. The price action formed a positive candle. In the coming session, a follow-through move above Tuesday’s session high of 10,857 may take Nifty towards the levels of 10,910-10,930. On the downside, the zone of 10,770-10,780 is a crucial support zone. The RSI on the daily chart has registered a fresh 14-period high and has managed to cross above the 60-mark, which is positive for the index.
Wipro: Wipro announced that it has been named a winner in the 'HfS Research Blueprint Report on retail customer engagement services.
TCS: The board of directors will consider a proposal for buyback of equity shares of the company at its meeting to be held on June 15, 2018.
Bharat Forge: Bharat Forge has acquired 34.53 per cent stake and Bharat Forge International, UK, (a wholly-owned subsidiary of the company) has acquired 0.73 per cent stake in TEVVA, aggregating to combined stake of 35.26 per cent.
Page Industries: The company has stated that the licence agreement with Jockey International Inc. has been extended till December 31, 2040.
Federal Bank: Federal Bank and Equirus Capital have entered into definitive agreements for investment by the bank up to 19.89 per cent in the equity share capital of Equirus Capital.
Sun Pharma: The company has received an establishment inspection report (EIR) for its Halol unit from the US FDA.
Videocon Industries: The company will file a defamation suit against Bloomberg.
Reliance Industries: Reliance Industries has completed acquisition of 72.69 per cent stake in AI firm Embibe .
PNB: The PNB board meeting on June 15 will consider proposal for issuance of up to 10 crore equity shares to its employees under the ESOPs.
Essel Propack: The company will issue Commercial Paper (CP) for Rs 30 crore on a private placement basi