Index trend and stocks in action January 04, 2018
During the previous trading session, Nifty opened with a gap-up and extended its upmove in the initial hours of trading. However, the index could not hold on to the gains and slipped lower and ended flat. The day’s price action led to formation of a negative candle adjacent to the negative candle of the previous trading session. Going ahead, a sustainable move above 10,505 would open gates for further upmove up to the levels of 10,535 and 10,552. On the downside, key support is seen around the levels of 10,400-10,410.
NIIT: NIIT (USA), Inc, a wholly-owned subsidiary of company of NIIT has acquired 100 per cent equity stake in Eagle International Institute, Inc., USA.
Lakshmi Vilas Bank: The Capital Raising Committee of the Lakshmi Vilas Bank has approved the allotment of equity shares of face value Rs.10 each at a price of Rs.122 per equity share (including a premium of Rs.112 per equity share) on a rights basis .
HDFC: The profit on the sale of investments stood at Rs. 5,270 crore compared to Rs 3 crore a year ago. The figure includes Rs. 5,250 crore from the IPO of HDFC Life. Its dividend income stood at Rs. 151 crore from Rs. 179 crore year-on-year. The bank will also make additional special provision of Rs. 1,575 crore.
Aurionpro solutions: Cyberinc, an Aurionpro subsidiary, entered into a definitive agreement with KPMG LLP, USA, for sale of its Identity and Access Management (IAM) business. The transaction is expected to close on January 31, 2018.
Rushil Decor: Company is planning to import plywood as well as low thickness MDF board. The said goods will be traded in Indian market by the company in the normal course of business.
NBCC: NBCC has secured the total business of Rs. 314.77 crore (approx.) in December, 2017 which includes Construction of Border Fence and Road along Indo-Bangladesh Border in Meghalaya State amounting Rs. 215.77 crore at a PMC fees of 7 per cent.
SJVN: Company to consider share buyback on January 8.