Index trend and stocks in action January 19, 2018

During the previous trading session, Nifty opened with a gap-up and then traded in a narrow range for the initial part of the session. However, selling emerged during the afternoon session and Nifty filled the opening upside gap and closed with modest gains. The price action formed a sizeable bear candle at the new all-time high, which is signalling profit-taking at the all-time high levels. Going forward, immediate resistance is seen around 10,880-10,890, followed by 10,930, whereas support is seen around 10,770-10,780 and the next support is around 10,670.

Dilip Buildcon: Company has received Letter of Award from the National Highways Authority of India (NHAI) for an EPC road project in the state of Madhya Pradesh.

Tech Mahindra: The Board of Directors of the Company has approved the proposal to acquire shareholding in US-based Altiostar Networks, Inc., through its wholly-owned subsidiary i.e. Tech Mahindra (Americas) Inc, USA.

Swan Energy: The Board of Directors of the company, approved raising of funds by way of issue of equity shares or any other eligible instrument or security through Qualified Institutions Placement (QIP) for an aggregate amount not exceeding Rs. 1,000 crore.

Karnataka Bank: Bank bags 'Best Financial Services & Foreign Exchange Earner in Southern Region' award from FIEO.

Godrej Agrovet: Company has acquired 51 per cent of the total Paid-up Equity Share Capital of Maxximilk Private Limited by way of Preferential Issue, consequent to which Maxximilk Private Limited has become a subsidiary of the Company .

Torrent Pharmaceuticals: Torrent Pharmaceuticals Limited, through its wholly-owned subsidiary Torrent Pharma Inc., has acquired Bio-Pharm Inc., a generic pharmaceuticals and OTC Company, based in Levittown Pennsylvania, USA.

Alembic: Alembic's board to consider buyback of shares on January 23.

Biocon: biocon announces exclusive global collaboration with Sandoz on next- generation biosimilars.