Index trend and stocks in action September 21, 2017
In the last trading session, Nifty opened with a positive bias and thereafter it moved in a choppy range and ended the day with marginal loss. Going forward, the level of 10,115-10,130 is a key support area for two reasons; firstly the opening upside gap is placed in this zone and secondly, it’s a resistance which has turned support zone, hence as long as Nifty trades above this zones buying on dips would be a right strategy. However, if this support zone is breached, selling pressure may intensify in that case supports are seen around 10,080 and 10,040 levels. On the upside, the level of 10,180 is a key resistance level.
Allahabad Bank: The Board approved amalgamation of its wholly owned subsidiary namely AllBank Finance with the bank subject to approval for the same from all requisite statutory/regulatory authorities.
Den Networks: Company received NCLT nod to demerge its broadband/internet service arm Skynet Cable.
Trident: Company received Confederation of Indian Textile Industry (CITI) award for excellence.
Satin Creditcare: Satin Creditcare Network Limited has informed to the exchange that the Working Committee of the Board of Directors in their meeting held on September 20, 2017 has consider and approved the allotment of Non Convertible Debenture on private placement basis.
NBCC: Company has received LOI from Department of Customs and Excise, Government of India for Planning, Designing & Construction of 'Office complex and residential quarters at Customs Enclave Plot, Wadala, Mumbai' amounting to Rs. 3200 Crores (approx) on self-revenue generation model.