Index trend and stocks in action December 12, 2018

The NSE benchmark Nifty witnessed a gap-down opening; however, the end was not less than a fairy tale as Nifty not only erased its losses but ended the session above the 10,500 mark with a gain of 0.58 per cent. The price action formed a significant bull candle. Nifty took support near the key Fibonacci level of the 61.8 per cent of the recent upmove from October lows. Going ahead, the opening downside gap area (10,559-10,599) created on  December 10 is likely to act as a stiff resistance, whereas on the downside, the level of 10,480 is crucial support level for the index.  

Unichem Laboratories: The company has received  tentative ANDA approval from the US FDA for,its Tadalafil tablets, 2.5 mg, 5 mg, 10 mg and 20 mg. 
  
Zydus Wellness: Zydus Wellness’ acquisition of Heinz India has received a nod from Competition Regulator. 
  
Dr Reddy’s Laboratories: Dr. Reddy's has announced the launch of over-the-counter store brand equivalent of Prilose OTC (Omeprazole delayed release) tablets, 20 mg in the US market. 
  
PNC Infratech: PNC Infratech's arm has submitted financing documents to NHAI regarding its HAM project in Karnataka worth Rs 1,157 crore. The company now has submitted documents for financial closure for all its 7 HAM projects 
  
AU Small Finance Bank: The bank has received approval from the BSE and the NSE for reclassification of promoter group shareholders as public shareholders. 
  
Reliance Industries: The board of directors of the company has accorded its approval to: (i) a scheme of arrangement for transfer of its fibre undertaking to a separate company (ii) a scheme of arrangement for transfer of its tower undertaking to a separate company The schemes shall be subject to all requisite statutory and regulatory approvals.