Index trend and stocks in action April 10, 2018
The benchmark Nifty got off to a dull start and moved higher as the day progressed. However, the gains remained capped as Nifty settled at 10,379, up by 0.46%. The price action formed a bull candle with higher high and higher low, which indicated an extension of the upmove. Going ahead, we expect Nifty to continue its positive momentum, but it is now approaching towards its major hurdle of 10,425-10,440. On the downside, immediate support is seen in the range of 10,345-10,355 as the 50-day and 100-day EMAs are placed in this region.
Axis Bank: Smt. Shikha Sharma, Managing Director & CEO of the Bank has requested the Board to reconsider the period of her re-appointment as the Managing Director & CEO of the Bank be revised from 1st June 2018 up to 31st December 2018. The Board has accepted her said request, subject to the approval of the RBI.
Alembic: Alembic to buyback 1,02,50,000 equity shares at Rs 80 per share. The Buy-back offer will open on Monday, April 16, 2018 and will close on Friday, April 27, 2018.
Neuland Laboratories: Neuland Laboratories to issue 16.75 lakh equity shares via QIP; proceeds to be used for various purposes including but not limited to debts, business growth, strengthening the balance-sheet and general corporate purposes.
Bharti Airtel: Airtel introduces new 300 Mbps Home Broadband plan for superfast data enthusiasts.
Wipro: Wipro said net income to see 65-75 basis points impact in fourth quarter as one of its client filed for insolvency.
HDFC: HDFC raised Retail Prime Lending Rate (RPLR) by 20 basis points effective from April 1.
Gravita: Gravita started Commercial Production of PPCP Granules from its Plant situated at Chittoor, Andhra Pradesh