Index trend and stocks in action June 11, 2018

During the last trading session of the week, NSE benchmark Nifty opened the session on a weak note and extend the weakness as the day progressed. However, buying interest in the second half of trading session lifted the Nifty higher and Nifty ended almost unchanged. The price action formed a small body positive candle. The gap which was formed on June 7 has been partially filled. Going ahead, the gap area (10,722.60-10,698.35) would continue to lend support to the Nifty. On the upside, it is important to see whether Nifty sustains above the 10,800-mark. A sustainable move above the 10,800-mark would open up higher levels of 10,860-10,930. 

PNB: PNB plans to divest stakes in PNB Housing Finance, ICRA, CRISIL and BSE.

Natco Pharama: The company has launched generic Posaconazole injection, which will be available first time  in India.  

Reliance Industries: Reliance Brand has purchased 100 per cent stake in Rhea Retail for all cash consideration of about Rs 203 crore.  

Indusind Bank: The bank has received approval of the Reserve Bank of India for incorporation of a wholly-owned subsidiary of IndusInd Bank as part of the composite scheme of arrangement between IndusInd Bank and Bharat Financial Inclusion. 

Phoenix Mills: Phoenix has acquired under-construction retail development at Lucknow for Rs 4.53 billion . 

Welspun Corp: The company has been awarded contracts for supply of 72 KMT of API pipes for the American market.  

Inox Wind:  Inox Wind auditors Patankar & Associates have resigned due to time constraints caused by their other commitments and engagements. 

Lemon Tree: The subsidiary has received final pre-construction approval for 577 room construction in Mumbai. 

Mahindra & Mahindra Financial Services: The company has alloted NCDs worth Rs 40 crore . 

Jubilant Life Sciences: The company has issued Commercial Papers of Rs 75 crore . 

Bayer Crop Science: The company successfully completed the acquisition of Monsanto.