Index trend and stocks in action December 26, 2017

Nifty got off to a positive start and moved higher to register fresh all time high levels. Finally, Nifty closed at 10,493 with gains of 0.50%. After moving sideways in the previous couple of trading session, the bulls regained strength and closed the session near the day’s high. The price action formed a bull candle. Going ahead, a follow through move above Friday’ session high (10,501) could lead to further upside, where the levels of 10,550 followed by 10,600, are likely to act as resistance points for the Nifty, while on the downside, the level of 10,410 is likely to act as a crucial support for the Nifty.

Wipro: Wipro invests US$2.05 million in Imanis Data (formerly Talena). Wipro has made a strategic investment of US$ 2.05 million in this tranche, taking total investment to US$ 4.05 million. 

Rico Auto Industries: The Hon'ble National Company Law Tribunal (NCLT) Chandigarh Bench, Chandigarh has approved the Amalgamation of Uttarakhand Automotives Limited, wholly-owned subsidiary with Rico Auto Industries Limited . 

Dilip Buildcon: The meeting of board of directors of the company is scheduled to be held on Thursday, December 28, 2017 to consider and approve the allotment of 8.90 per cent, 6,000 non-convertible debentures with a face value of Rs. 10,00,000 each issued at par aggregating to Rs. 600 crore, on a private placement basis. 

Power Mech Projects: The investment committee of the board of directors in their meeting held on December 23, 2017 have approved incorporation of a 50 per cent JV company along with Skipper T&D in DMCC (Dubai multi-commodities centre) Dubai to support its international operations. 

Suzlon: Company has signed share purchase agreement with Skeiron Renewable Energy for sale of its stake in Shanay Renewables and Saroja Renewables. 

Bharat Financial: Bharat Financial Inclusion Limited completes third securitization transaction of Rs.  653.03 crore in FY18 .