Index trend and stocks in action July 10, 2018

The NSE benchmark Nifty, after opening with an upside gap, moved in a capped range for the first half of the trading session. However, in the second half, bulls regained strength and ended the session near the day’s high. Finally, Nifty settled above the 10,850-mark, higher by 0.74 per cent. The price action formed a small body positive candle carrying higher high and higher low and signalling continuance of the positive momentum. On Tuesday, Nifty is likely to see itself on its advancing trajectory, but the bulls need to move past the zone of 10,865-10,870, which is the upper end of a triangle pattern, in order to reclaim May’s high of 10,929. On the downside, the level of 10,800-10,820 is likely to act as a strong support for the Nifty. 

Va Tech Wabag:  The board of directors have approved the proposal for raising of funds through issuance of secured/ unsecured redeemable NCD by way of private placement amounting upto Rs. 300 crore through one or more tranches. 

HCL Technologies: The company will consider share buyback on July 12.  

PPAP Automotive: The company has started commercial production from its newly set up Gujarat plant. 

Astral Poly Technik: The company is considering acquisition of 51 per cent equity shares of Rex Polyextrusion Pvt. Ltd. and its amalgamation with the company. 

SRF: The company has announced setting up of a polyester film and resin plant in Thailand. 

Sadbhav Infrastructure: Sadbhav Infrastructure has informed that its first quarter toll revenue increased by approx. 13.9 per cent to Rs. 275 crore. 

PNC Infratech: The company has been declared lowest bidder for two packages of Purvanchal Expressway project worth Rs. 2,520 crore. 

Gayatri Projects: The company has been declared as L-1 bidder for development of Purvanchal Expressway project (Package-I) valued at Rs. 1,483.00 crore and development of Purvanchal Expressway Project (Package-II) valued at Rs. 1,276.00 crore.  

GSFC: GSFC has stated that it expects to get Rs. 693 crore subsidy from the Fertiliser Department. 

Lupin: Lupin receives FDA approval for generic Hydroxychloroquine Sulfate Tablets USP, 200 mg.