Index trend and stocks in action January 01, 2018

The concluding session of the calendar year 2017 ended on a positive note; however, the high-low range for the day was around 10,539-10,489. The price action formed a bull candle. Going ahead, the levels of 10,553 followed by 10,600 would play out as immediate resistance levels for the markets, whereas important support for the index is placed around 10,480 and a sustainable move below this support level would open the gates for further decline up to the levels of 10,410-10,400. 

Kolte-Patil Developers: Kolte-Patil Developers announced that it has exited its Sanjivani project located at Urse, Pune for a consideration of Rs. 50 crore, which is a refund of its initial capital contribution. 

Cadila Healthcare: Receives final approval from the USFDA for Valacyclovir Tablets USP . 

Infosys: Signed an agreement for divestment of its entire investment in ANSR consulting for a total consideration of US$ 1,000,000. 

Shriram Transport Finance: Company has raised Rs. 400 crore by issuing bonds on private placement basis. 

Brigade Enterprises: Acquires 12.95 acre property in Bangalore for a consideration of Rs. 218 crore. 

NTPC: Unit 2 of 800 MW of Kundgi Super Thermal Project declared on commercial operation w.e.f December 31. 

GAIL: GAIL awards major contracts for Pradhan Mantri Urja Ganga.