Index trend and stocks in action June 18, 2018

The NSE benchmark Nifty witnessed a modestly positive start on the final trading session of the week and, thereafter, weakness set in from the day’s high. But the Nifty saw a smart recovery from the lower levels to end the session on a flat note with a positive bias. The price action formed a small body candle with long lower shadows, which indicates emergence of buying at the lower levels. For the coming session, it would be crucial for the index to move past the level of 10,835 to carry on any meaningful upmove. On the higher side, the zone of 10,890-10,900 is likely to act as a strong resistance level, while on the way down, support is seen around the levels of 10,750-10,770.  

8K Miles: 8K Miles has expanded its foothold as the leading provider of Cloud solutions and managed services to life sciences enterprises. 

Dr Reddy Laboratories: The company has defended its right to launch buprenorphine and naloxone sublingual film in the US market. 

NBCC:  NBCC has submitted bid in response to the invitation by Department of investment and Public Asset Management (DIPAM), Government of India, for strategic disinvestment of HSCC (India) and Engineering Projects (India). 

Kanoria Chemicals and Industries:  The company is setting up a formaldehyde plant with a capacity of 1,00,000 TPA at Naidupeta  in Andhra Pradesh. The company has received environmental clearance for the same from the Ministry of Environment, Forests & Climate Change, Government of India. 

Panacea Biotech:  The company, along with partner Apotex, has settled patent dispute with Celgene Corp. 

PNC Infratech: PNC Infratech says that the lowest bid for Purvanchal Expressway has been cancelled.