Index trend and stocks in action July 04, 2018

The NSE benchmark Nifty recouped some of its previous session’s losses to end the day just shy of the 10,700-mark. The Nifty traded within the last session’s trading range, which resulted in formation of an inside bar. Wednesday’s session will see the level of 10,736 and 10,760 as a stiff resistances on the upside, while on the downside, the nearest support is seen at the level of 10,600 and it would be important to see if this level remains protected and respected by Nifty. However, any follow through move below the support level of 10,600 could take Nifty towards the level of 10,531, which is its 100-DMA.  

M&M Financial:  International Finance Corporation has invested $ 100 million in M&M Financial.  

ISGEC Heavy Engineering: The company has emerged as the lowest bidder for a Rs 700 crore thermal power project.  

GE Power: GE Power has been awarded twin boiler equipment orders by Bharat Heavy Electricals (BHEL) for supercritical thermal power projects in Patratu and Udangudi worth approximately Rs 467.9 crore (US $ 68.3 million).  

Kwality: The company has stated that the board has deferred the proposed share buyback and bonus issue.  

Vedanta:  Vedanta plans to raise up to Rs 1,500 crore through NCDs.  

Dena Bank: The bank has proposed to sell shares of NSDL E-Governance Infrastructure, NSDL and SIDBI.  

Fortis Healthcare:  The company’s board of directors has received binding bids on July 3, 2018. These bids will be evaluated by the board in consultation with its advisors.