Index trend and stocks in action April 30, 2018

Karan Dsij
/ Categories: Trending, Markets, News

NSE benchmark Nifty started the session with a decent gap up opening and extended its upmove to reclaim 10,700 mark, but marginal profit booking towards the end of the session resulted in the index settling shy of 10,700 mark. The price action formed a bull candle. After attempting to breakout of the key resistance area of 10,630-10,650 for the past four trading session, Nifty finally witnessed a upside breakout of the key overhead resistance of 10,630-10,650 with a gap up opening and as per gap theory, if this gap remains open for the next couple of trading, then the gap could be considered as a bullish runaway gap. Nifty is currently placed at the key hurdle of 10,705 as it is the 61.8 retracement of decline from the high of 11,171 to the low of 9,952. A decisive move above Friday’s session high of 10,720 could see the index testing levels of 10,800. 

Wockhardt: The Board of Directors of the company at their meeting to be held on May 4 to consider and approve fund raising.

Dilip Buildcon: Dilip Buildcon informed that it executed concession agreement with NHAI for orders worth Rs. 917 crore.

Axis Bank: The Board of Directors of Axis Bank at their meeting considered and approved the Scheme of Amalgamation of Accelyst Solutions Private Limited (Transferor Company) with Freecharge Payment Technologies Private Limited (Transferee Company).

Adani Ports: Adani Ports' board meeting on May 3, 2018 to consider funds raising issue of equity shares / convertible bonds.

Shalimar Paints: Shalimar paints allot 35.52 lakh shares at Rs. 140 per share on right basis.

Interglobe Aviation:  Accepted the resignation of Aditya Ghosh, President and Whole Time Director of the Company, from the post of President of the Company effective July 31, 2018 and as a Director of the Company with effect from April 26, 2018.

Indian Oil Corporation:  The Board of Indian Oil has accorded approval for implementation of 357 KTA Ethylene Glycol Project alongwith associated facilities at Paradip-based on off-gas of the Fluid Catalytic Cracking Unit at an estimated cost of Rs. 4,221 crore. 

Nitish Estates: Nitesh Estates informed that the arbitral tribunal awarded Rs. 42.50 crore to its subsidiary in a land dispute.

Jagran Praskashan: Jagran Prakashan to buyback upto 1.5 crore shares representing 4.82 per cent equity at a price of Rs. 195.

PC Jeweller: PC Jeweller to consider buyback on May 25.

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