Index trend and stocks in action October 04, 2018

The NSE benchmark NSE failed to get follow through strength on Wednesday as global cues remained cautious and Nifty ended the day below the important psychological 10,900 mark. However, it managed to defend the low seen on Monday around the level of 10,821. The price action formed a bear candle. Going ahead,  the area of 10,775-10,800 remains a crucial support level for the index as it is a confluence of 200-DMA, which is currently placed at 10,777, and 78.6 per cent retracement level of July-August, which is placed at 10,815. Failing to hold this crucial support could possibly take the index towards the lower levels of 10,690-10,670 in the short term, whereas on the upside, immediate hurdle is seen around the levels of 10,980-11,040. Nifty has to move past and close above these levels and further it also needs to move past the important hurdle, i.e. last week’s high which is placed at 11,170, and until this happens, bears will have an upper hand.  

Aditya Birla Capital: International Finance Corporation, a member of the World Bank Group, has extended a 7-year long term loan of Rs 1,000 crore to Aditya Birla Finance Limited, a wholly-owned subsidiary of the company. 
  
Bharti Airtel: The company’s subsidiary Bharti Airtel International (Netherlands) B.V. has offered to repay outstanding euro notes worth €1 billion which are due in December 2018. 
  
Tata Power: Tata Power Solar has launched an extensive residential rooftop solution in Ajmer, Rajasthan 
  
Amara Raja Batteries: Amara Raja and Johnson Controls will bring a new wave of battery technology to India . 
  
TVS Motor: The company has  announced that their new 160cc motorcycle offering TVS Apache RTR 160 4V has crossed the 1 lakh sales mark. Launched in March 2018, the motorcycle has achieved the milestone in a span of six months. 
  
SRF: The  company said it had announced capitalisation and commission of the first phase of the project for setting up of bi-axially oriented polypropylene (BOPP) film line in December 2017. Also, the capital expenditure on metallizer, infrastructure and certain other items has since been capitalised and commissioned as on September 30, 2018. 
  
Larsen and Toubro: The buildings and factories business of Larsen & Toubro has won a prestigious EPC order worth Rs 3,036 crore from Bangalore International Airport Limited (BIAL) to construct Terminal-2 (T2) of the Kempegowda International Airport, Bengaluru. 
  
Infosys: Infosys has been assigned A3 rating with 'Stable' outlook by Moody's Investor Service.