DSIJ Mindshare

Index trend and stocks in action December 13, 2017

During the previous trading session, the Nifty index started off with a negative bias and soon extended its losses and ended the session near day’s low. The day’s action formed a sizeable bear candle, which indicates bear have taken control and, as a result, the index has filled upside gap of 10,271-10,282, which was formed on the daily chart as on December 11, 2017. Going ahead, the gap area (10,183-10,195) formed as on December 8, 2017, may act as a support in the coming trading session. However, a decisive breach of this support level may result in extended correction up to the level of 10,120. On the upside, the levels of 10,265-10,275 may act as immediate resistance zone, followed by 10,330.  
 
Hindustan Copper:  The Kendadih Copper Mine of Hindustan Copper limited (HCL) located at Ghatsila, Jharkhand, closed in February 2000 on account of economic reasons, has been reopened on 11.12.2017 upon commencement of development activities at the mine. 

Neuland Laboratories: The company has completed the purchase of manufacturing facility, comprising of land, buildings, plant, machinery and equipment, owned by Arch Pharmalabs Limited situated at Gaddapotharam, Jinnaram Mandal, Sanga Reddy District, under the provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI) from JM Financial Asset Reconstruction Company. 

Bombay Burmah Trading Corp: Company  has issued Commercial Paper for an aggregate amount of Rs. 50 crores on 12th December, 2017 for 87 days and having maturity date March 9, 2018. 

Asian Paint: Company has acquired 100% stake in Reno Chemicals Pharmaceuticals And Cosmetics Private Limited (Reno), for an amount of Rs. 159.52 crores.  

Punj Lloyd: Company has been awarded order worth Rs 276 crore from GAIL India for construction of pipeline and one more order worth Rs 1,777 crore in joint venture with Varaha Infra. 

Havells: Havells India Limited is planning to set up a new facility to manufacture consumer durables such as Air-conditioners, Refrigerators, TVs, Washing Machines etc. in Ghiloth/ Neemrana in the State of Rajasthan, subject to approval of the Board. 

NBCC:  NBCC has secured new business valuing US$ 23 million for Social Housing Units in Mauritius.. 

Grasim Industries: To pay Rs 600 crore to Century Textiles for rights to control its filament yarn business. 

Interglobe Aviation: Promoters to sell up to 79.52 lakh shares, whole IGE (Mauritius) will sell 32.40 lakh shares through offer for sale. The floor price has been fixed at Rs 1,130 per share. 

Bharti Airtel: Warburg Pincus to invest US$ 350 million to acquire 20% stake in Airtel’s DTH arm.

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