Index trend and stocks in action April 26, 2018
NSE benchmark Nifty ended the penultimate session of the expiry of the current derivative series on a negative note. Nifty lost about 44 points to end at 10,570.55. The price action formed a bearish body candle with a lower shadow. In the last three trading sessions, we had seen that the index had made an attempt to cross the hurdle of 10,630-10,640, but as soon as it reaches near this zone it faced selling pressure. Hence, going ahead, the level of 10,630-10,650 would be a crucial resistance zone for the Nifty. Whereas, on the downside, immediate support is seen at around 10,530 followed by 10,495. A decisive move below the area of 10,495, could confirm a reversal, and that could open up potential downside correction.
Uniply Industries: Uniply Industries to allot 45.14 lakh equity shares at a premium of Rs. 400.85 per share on a preferential basis to non-promoters. It will also allot 96.28 lakh convertible warrants at a premium of Rs. 400.85 per warrant on a preferential basis.
Bharti Airtel: The Board of Directors of the company, at its meeting, has approved the transfer / sale of submarine cables to Network i2i Limited, a wholly-owned subsidiary of the company.
Cadila Healthcare: Zydus receives final approval from the USFDA for Methylprednisolone Tablets USP and Cinacalcet Hydrochloride Tablets .
Kitex Garments: Kitex Garments to incorporate 2 wholly-owned subsidiary companies and to invest Rs. 400 crores (200 crores each) in these companies from internal accruals and borrowings.
Shah Alloys: Company has entered into Settlement Agreement with ARCIL in respect of credit facilities availed by the company and the settled amount to be paid upto 31.12.2020 and 31.03.2022, respectively.
Indoco Remedies: Indoco's Goa Plant I gets statement of GMP non-compliance from UK- MHRA .
Future Retail: NCLT approved the Scheme of Arrangement between Hypercity Retail and the Future Retail.