Index trend and stocks in action June 07, 2018

The NSE benchmark Nifty opened the session on a flat note and gradually started moving up. However, post the RBI’s policy announcement, Nifty witnessed further upmove to close near the day’s high. The price action formed a long bull candle carrying higher high and higher low. Going ahead, immediate resistance is placed around the level of 10,734 which happens to be 61.8 per cent retracement level of the entire down leg of 10,929-10,418, and the next resistance is placed around the level of 10,770. On the way down, immediate support is in the zone of 10,630-10,650.

Sadbhav Infrastructure Projects: The  Board has approved raising of funds up to Rs 3000 crores  via issue of securities. 

Lemon Tree Hotels: The company has signed a licence agreement for a 104-room property at Gwalior, Madhya Pradesh, under the company's brand 'Lemon Tree Hotel'. The hotel is expected to be operational by June, 2020. 

Hindustan Construction:  Hindustan Construction (HCC), in the joint venture with MAX Group, a leading construction company in Bangladesh, has been awarded contract worth Rs.737 crore. 

Quess Corp:  Quess Corp has approved the sale of 74 per cent equity shareholding held in Inticore VJP Advance Systems . 

Majesco:  A new start-up has selected Majesco Core Suite for P&C and Majesco Enterprise Data Model on Majesco Cloudlnsurer Platform. 

Syndicate Bank:  The board of directors of the bank in its meeting has approved to raise equity capital up to Rs 5000 crore  via securities. 

BEPL:  BEPL has resumed commercial production at its plant in MP post the fire incident. 

Goldstone Infratech: The company has launched its new electric feeder bus 'eBuzz K6'. 

HCL Infosystems: HCL Infosystems has said that its deal with Apple India to distribute iPhone and other Apple products will end in March 2019.