Index trend and stocks in action May 02, 2018

NSE benchmark Nifty began the week on a positive note and climbed above the important psychological mark of 10,700. The price action formed a bull candle with higher high-low formation. Going ahead, a decisive move above Monday’s high of 10,759 could take Nifty towards the level of 10,800, where it may face resistance. On the downside, immediate support is seen around the level of 10,690, followed by 10,650. The RSI has marked new 14-period high on the daily chart and stands at 70.  

Grasim: Grasim informs that Company's brownfield expansion of capacity of Caustic Soda Lye from 600 TPD to 1000 TPD at Vilayat (Gujarat) has been partially (approximately 50%) commissioned and commercial production has commenced. The said capacity expansion is expected to be fully commissioned by end of May 2018.

Power Grid: Power Grid declared commercial operation of elements pertaining to Powergrid Parli Transmission. 

BHEL: BHEL bags order for largest Hydro Power Project in Nepal.

Mahindra Lifespaces: Mahindra Lifespaces joint venture gets multi-product notification for its special economic zones.

L&T: L&T Signs Agreements with Schneider Electric to Divest Electrical & Automation Business for Rs.14,000 Crore. 

Godrej Properties: Godrej Properties board meeting on May 4 to consider capital raising by way of preferential allotment. 

GAIL: GAIL signs Loan Agreement with SBI for general capital expenditure Agreement for Rs 2,000 crore Rupee Term Loan. 

Maithan Alloys: Approved to set up a Greenfield Ferro Alloy manufacturing unit in West Bengal with an estimated installed capacity of 1,20,000 MT per annum of Ferro Chrome Alloys for diversification of our product portfolio. 

Fortis Healthcare: IHH raises fortis healthcare bid to Rs 175 per share.