Index trend and stocks in action May 04, 2018

The NSE benchmark Nifty opened the session on a flat note and declined during the early part of the session. Later on, it recovered from the lower levels but still managed to close below the important psychological level of 10,700. The price action formed a small bear candle carrying a lower high-low. Nifty bounced back from the crucial support zone which is placed in the range of 10,630-10,650. In the coming session, the level 10,630-10,650 will be the key level to watch as Nifty holding above this level would open positive options. Else, the index would correct towards the level of 10,540, which is its 21-day EMA.

J Kumar Infraprojects: J Kumar Infraprojects bags order worth Rs 445 crore for the Pune Metro Rail project. 

Peninsula Land: The Company has further entered into agreements for acquiring indirect control over the Special Purpose Vehicles (SPVs) namely - Goodhome Realty Limited (GRL), Rockfirst Real Estate Limited (RREL), RR Mega City Builders Limited (RRMCBL) and Truewin Realty Limited (TRL), through investment in the units of PReF Indigo Scheme floated by Peninsula Realty Fund (PRF).

Emami: Board recommends issue of bonus shares in the ratio of 1:1. 

BASF: The Company has received information from BASF SE, Germany (Parent Company) that globally BASF SE and Solenis (USA) have reached an agreement to combine BASF's Paper wet-end & Water Chemicals business with Solenis, USA, subject to receipt of requisite approvals.

Tata Motors: Tata Motors to sell its defense and aerospace portfolio to Tata Systems Limited to unlock their full potential. 

Cera sanitaryware: Board of Directors has approved Rs 100 crore CAPEX plan for the year 2018-19.

Lanco Infratech: On account of less than 75% of the votes being cast in favour, bankers reject resolution application by Thriveni Earthmovers to acquire company. 

Fortis Healthcare: A meeting of the Board of Directors of the Company will be held on Thursday, May 10, 2018 to, inter-alia, consider and decide on various bids/proposals received by the company w.r.t. the ongoing fund raising, re-structuring, etc. and such related activities.

Tirumalai Chemicals: Thirumalai Chemicals board recommended 10:1 stock split.