Index trend and stocks in action July 06, 2018

The NSE benchmark Nifty had a disappointing session as it snapped its two-day winning streak after opening the session with modest gains. The index spent most part of the day in a narrow range to end with modest loss of 0.19%. The price action formed a small bear candle carrying a higher high-higher low formation, indicating minor profit-booking. As we step into last trading session of the week, we expect a quite start to the day and the zone of 10,835-10,860 to continue to pose critical resistance to the Nifty. The index will dismiss any remarkable move, unless these levels are breached on the upside. On the downside, the zone of 10,700-10,720 is crucial support for the index. 

Apollo Hospital: The company has acquired 50 per cent equity stake in Medics International Lifesceinces, which owns a 330-bed super-speciality hospital in Lucknow. 

Berger Paints: The company has signed a Shareholders' Agreement with Rock Paint Co., Ltd. of Japan for the purpose of setting up a joint venture (JV) company in India by the name of 'Berger Rock Paints'. The proposed JV will engage in developing, producing and selling superior automotive refinish paints in India and Nepal. 

Muthoot Finance: Muthoot Finance received RBI approval to acquire shares in Muthoot Money Pvt Ltd to diversify business activities. 

Info Edge: The company has agreed to jointly invest with MacRitchie Investments Pte. Ltd, a wholly-owned subsidiary of Temasek, an amount of about Rs. 1,905.18 million in Etechaces Marketing & Consulting Pvt. Ltd. for 3.50 per cent stake. 

Phoenix Mills: Island Star Mall Developers Pvt. Ltd, a strategic investment alliance owned by the company and Canada Pension Plan Investment Board, has acquired a land parcel in Wakad Pune for Rs. 1.61 billion . 

Welspun Enterprises: Welspun has bagged a four-laning contract from NHAI. 

Parag Milk Foods: The company has announced a collaboration with Swedish company, ColoPlus AB for launch of its first 100 per cent natural immunity booster called 'GO Colo Power.'