Index trend and stocks in action November 27, 2018

The NSE benchmark Nifty ended the first trading session of the week with decent gains after three consecutive days of losses. Nifty closed above the 10,600 mark with a gain of 0.97 per cent. The price action formed a bull candle carrying a long lower shadow, which highlights emergence of buying demand near the 20-day moving average. The level of 10,650-10,660 is likely to act as a strong barrier for the index as the 50-day moving average is placed in this region. A sustainable move above these levels would lead to an extension of the rally up to the 200-day moving average, which is placed at the 10,743 level. On the downside, the zone of 10,440-10,480 is likely to act as a strong support zone.  

Unichem Labs: Unichem Labs has received Establishment Inspection Report (EIR) from the USFDA post marketing adverse drug experience inspection. The report indicates the closure of inspection which started from June 25-29. 
  
Sunil Agro Foods: The company has commenced commercial production on the expanded capacity. 
  
IFCI: On account of the resolution of Binani Cement through NCLT, IFCI, which is holding 42,16,850 security receipts of the face value of Rs. 1,000 each has received an amount of Rs. 491.84 crore, net of TDS of Rs. 30.55 crore, pursuant to the said resolution. 
  
Nava Bharat Ventures: The company and its subsidiary (Nava Bharat Energy (India) Limited) have signed contracts with Tata Power Trading for power supply of 25 MW and 100 MW, respectively, to Telangana state grid. 
  
Sun Pharmaceutical: The company and one of its wholly-owned subsidiaries have entered into settlements with certain plaintiffs in the Modafinil anti-trust litigation matter pending in the United States district court. The settlements extend to all claims brought by the Direct Purchaser Plaintiffs. The terms of the settlements are confidential. Also, it has entered into a definitive agreement to acquire 100 per cent stake in Japan-based Pola Pharma for $1 million. 
  
NMDC: The total iron ore production up to October 2018 was 15.47 million tonnes and sales production was 16.55 million tonnes.