Index trend and stocks in action June 01, 2018

Karan Dsij
/ Categories: Trending, Markets, News

NSE benchmark Nifty started off the session with a gap-up and later shifted to sideways movement, until buying in the final hour trade took Nifty beyond the 10,700-mark. The price action of the day formed a long bull candle, which has registered a fresh swing high of 10,763 level, thereby going past the previous swing high registered on May 29, 2018. In the coming trading session, the levels of 10,785 and 10,800 will play out as immediate resistance areas. The support may come in at the level of 10,660, which is 21-day SMA, followed by 10,610. The 14-period RSI is quoting around the level of 57.75 and a move beyond the level of 60 could infuse further momentum.  

Fortis Healthcare: Fortis Healthcare International, a wholly-owned subsidiary of Fortis Healthcare sold-off 18.2 million units of RHT Health Trust for a consideration amounting to 13.65 million SGD (Singapore dollars). 

Idea Cellular: Idea Cellular announces completion of sale of standalone tower business to ATC Telecom Infrastructure. 

Mahindra and Mahindra: Mahindra signs MOUs with Government of Maharashtra for Electric Vehicle Manufacture and Deployment.

Infosys: Infosys extends alliance with Microsoft for Cloud-Based Digital Transformation Solutions.

Shriram EPC: CIRP proceedings have been stayed by NCLT.

TCS: TCS recognized as a leader in Manufacturing Supply Chain Execution by two IDC MarketScapes.

Cholamandalam Investment and Finance:Cholamandalam Investment and Finance to invest Rs. 50 crore in its subsidiary Cholamandalam Home Finance.

Bayer Crop science: Bayer Crop Science to invest Rs. 400 crore in Monsanto India.

Maruti Suzuki India: Company targets to sell over 2 lakh cars with AGS technology in 2018-19.

PNC Infratech: PNC Infra declared lowest bidder for Nagpur-Mumbai expressway project for Rs. 2,099.52 crore

Ashiana Housing: Ashiana Housing acquired a land parcel admeasuring 6.67 acres situated at Village Shri Kishanpura, Jaipur, Rajasthan.

Bodal Chemicals: Bodal Chemicals Ltd had already acquired approx. 42 per cent stake in Trion Chemicals (TCPL). Bodal Chemicals is planning to take stake upto 59 per cent in TCPL by acquiring new equity shares in TCPL.

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