Index trend and stocks in action October 09, 2018

The NSE benchmark Nifty witnessed a roller-coaster ride and ended the day with a modest gain of 0.31 per cent at 10,348. The price action formed a high wave-like candle. Going ahead, Monday’s session low of 10,198 is likely to act as a support level for the index and failing to hold this support level may take the index towards the level of 10,100. On the higher side, a follow-through move above Monday’s session high (10,398) may take the index towards the level of 10,430, followed by 10,520.  

Britannia Industries: The company will issue and allot by way of bonus one fully paid-up debenture of the face value of Rs 30 each by utilising its accumulated profit for every one fully paid-up equity share of face value Rs 1 each held by a member as on the record date. 
  
NBCC: NBCC has executed a Memorandum of Understanding with the Rajasthan government for the redevelopment of old MREC campus in Jaipur for Rs 250 crore. 
  
Sadbhav Infra Project: The company’s subsidiary has won an arbitration award of Rs 110.50 crore  against NHAI.  
  
Coal India: Coal India Limited and NLC India Limited (NLCIL) have signed a Memorandum of Understanding for the formation of joint venture company for solar power generation of 3,000 MW and thermal power projects of 2,000 MW capacity. 
  
NCL Industries: The cement dispatches for the September quarter were up by 31 percent at 4.88 lakh MT versus 3.72 lakh MT.