Index trend and stocks in action June 08, 2018
The NSE benchmark Nifty had a remarkable day of trade, despite coming off about 50 points from the day’s high and settling at 10,768, up by 0.78 per cent. The day’s action formed a positive candle with an opening upside gap. Going ahead, Thursday’s session gap area (10,722.60-10,698.35) would act as a crucial support area for the Nifty. On the upside, the level of 10,800, followed by 10,825, will offer resistance.
Time Technoplast: The company has received orders worth Rs 40 crore.
Indian Bank: The bank has revised the Marginal Cost of Funds Based Lending Rates (MCLRs) with effect from June 11, 2018.
Tata Motors: Jaguar Land Rover reported total retail sales of 48,281 vehicles in May 2018, up 6.1 per cent YoY. The sales growth was primarily driven by the introduction of new models, including the Range Rover Velar, the Jaguar E-PACE and the new Land Rover Discovery.
Omax Auto: The board of directors approved the proposal for diversification and expansion of existing capacity for manufacturing products and equipment supplied to railways .
Electrosteel Casting: The company has said that the promoter holding has reduced to 11.11 per cent from 45.23 per cent post allotment of shares to lenders.