Index trend and stocks in action May 31, 2018

Karan Dsij
/ Categories: Trending, Markets, News

It was a rollercoaster ride for the NSE benchmark Nifty on the penultimate day of the expiry of the May derivative series. After opening with a gap-down, Nifty bounced back from the lower levels to end above the 10,600-mark with a modest loss of 0.18%. The price action formed a small body positive candle. In the coming session, if Nifty holds above the 100-day SMA which stands at level of 10,554, it would keep positive options open to challenge the recent swing high of 10,717. However, a follow-through move below the 100-day SMA could lead to a further decline up to the level of 10,500. On the eve of the derivatives expiry, we could witness volatile moves in the second half of the trading session.   

ICICI Bank: The bank's Board of Directors have decided to start enquiry into whistle-blower complaint against the Bank’s MD & CEO.   

Reliance Communication: The Hon’ble National Company Law Appellate Tribunal (NCLAT) stayed the orders of the Hon’ble National Company Law Tribunal (NCLT), Mumbai, of IBC admission of RCOM, Reliance Infratel Limited (RITL) and Reliance Telecom Limited (RTL). Additionally, RCOM’s asset sale to Reliance Jio and Brookfield for an aggregate value of Rs 18,100 crore has been allowed to proceed by the Hon’ble NCLAT. 

Jamna Auto: The Company has entered into a Technology Transfer and Technical Assistance Agreement with Tinsley Bridge Limited, UK for transfer of TBL's Extralite Spring Technology and Special Steel Technology to the Company.

Infibeam Corporation: Raising of funds not exceeding Rs. 2,000 crores by way of issuance of securities through QIP/FCCB/FCEB/ADR/GDR etc. 

Ultratech Cement: The firm has received letter of intent from Binani Cement’s committee of creditors. 

Can Fin Homes: Can Fin Homes to consider fund raising proposals on June 2.

Granules India: Granules Pharmaceuticals, Inc., the wholly owned subsidiary of Granules India, launched generic Methylergonovine tablets in partnership with Hikma.

Atlanta: Atlanta's statutory auditors Price Waterhouse Chartered Accountants LLP resigns. 

Mcleod Russel: To hive-off some of its tea estates and decided to buyback shares to the tune of Rs 100 crore. 


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