Index trend and stocks in action August 10, 2018

The NSE benchmark Nifty continued with its upmove and posted a record closing high. However, Nifty traded in a narrow range throughout the session and ended above the 11,450 mark. The price action formed a small body negative candle. Going into trade on Friday, we expect a lacklustre start to the trading. The levels of 10,500 followed by 11,535 are likely to act as immediate resistance levels for the Nifty, while in the case of retracement, which is overdue given the overbought nature of the markets, we hold the level of 11,430 as immediate support, followed by 11,360.  

HSIL: The commercial production of the first phase of CPVC, UPVC, SWR and PVC pipes and fittings plant situated in Telangana has commenced.  
  
GMR Infrastructure: GMR Hyderabad International Airport Limited, a subsidiary of the company, has issued LOIA for construction of terminal building and airside infrastructure contracts through international competitive bidding on L1 basis to Larsen & Toubro Ltd for an amount of Rs. 30.28 billion and to Megawide Construction Corporation for an amount of Rs. 9.80 billion. 
  
Zensar Technologies: The company's record date for 1:5 stock split is September 10. 
    
Vikas WSP: The company has received orders for Rs. 219.36 crore thermogel-30 guar gum and DP-100 guar gum for yoghurt, dairy, milk, healthcare applications. The company has received these orders from its global customer base. These orders would be executed in August and September 2018. 
    
Adani Enterprises: Adani Agri Logistics Ltd, a wholly-owned subsidiary of the company, has incorporated wholly-owned subsidiaries namely, Adani Agri Logistics (Dhamora) Ltd and Adani Agri Logistics (Borivali) Ltd. 
  
Jet Airways: Jet Airways board has deferred June quarter results as the audit committee has refused to approve earnings. 
  
SBI: The bank has received the approval of executive committee of the Central Board to explore and initiate divestment up to 4 per cent of the stake of SBI in SBI General Insurance. 
  
Manappuram Finance: The company's board has approved the proposal of fundraising up to Rs. 3,000 crore through public issue of non-convertible debentures (NCDs) in multiple tranches during FY18-19. 
  
Indian Energy Exchange: The company has recommended sub-division of one equity share of face value of Rs. 10 each into one fully paid-up  equity share of Re. 1 each.