Index trend and stocks in action June 27, 2018

Mirroring negative cues from Asian bourses, the NSE benchmark Nifty witnessed a weak opening. However, as the day progressed, Nifty recovered from the lower levels to touch the day's high of 10,805, but the bouts of volatility in the last leg of trading saw Nifty paring most of its intra-day gains and ending the session with minuscule gain of 0.06%. The price action of the day formed a small body bull candle carrying long upper shadow, which indicated selling pressure at the higher levels. It has been observed that in the last couple of weeks, Nifty has been trading in the range of 10,700-10,837. On the charts one thing remains distinctly clear that unless this range is breached either on upside or downside, we will see each upmove getting stalled in the range of 10,830-10,840 and, on the downside, the level of 10,700 will continue to lend support. Going forward, only a breach of this range would result in a trending move. 

Infosys:  Infosys Finacle will power Santander UK's international cash management system . 

Hindustan Unilever: The company has clarified that the news appearing in media about Horlicks buy is in no manner definitive and is speculative. 

Tata Communications: EdgeConneX has announced partnership with Tata Communications. 

IDBI Bank: The bank has clarified  that it has an exposure of Rs 47.18 crore to D.S. Kulkarni Developers. 

Relaxo Footwears: The company has commenced commercial production at its new state-of-the-art plant at Bhiwadi for manufacturing flip flops (Hawaii range of footwears). The new plant has production capacity of 1.25 lakh pairs per day. 

Majesco: Majesco USA, the insurance arm and a subsidiary of the company, has announced that American Capital Assurance Corporation went live with the Majesco P&C Core Suite, inclusive of policy, billing, and claims. 

PNB Housing Finance: The company has approved the proposal for raising of funds by way of public issue of secured and/or unsecured Non-Convertible Debentures ("NCDs") for an amount upto Rs 10,000 crore in one or more tranches. 

IndusInd Bank: The bank proposes to acquire 100 per cent of the shares of IL&FS Securities Services Ltd, the securities services subsidiary of IL&FS . 

NMDC: The prices of iron ore have been fixed w.e.f. 22-06-2018 as follows: i) lump ore at Rs 3,050 per tonne, ii) fines at Rs 2,660 per tonne.