Index trend and stocks in action September 07, 2018

The NSE benchmark Nifty finally ended its losing streak and closed the session with modest gains of 0.38 per cent at 11,520. After a positive start to the session, Nifty witnessed great amount of volatility throughout the session as it swung nearly 126 points between its high-low. The high volatility led to formation of high wave candle. In the coming session, the level of 11,460 is likely to act as immediate support level and the next support is seen around the level of 11,394, which is the low of September 5. On the way up, the levels of 11,580, followed by 11,620, are likely to act as an immediate resistance areas.  

L&T Finance Holdings: The company has clarified  that it had submitted necessary details to the Registrar of Companies regarding its IPO in July 2011 and has still not received any further communication. This clarification comes after media reports alleged the misuse of IPO proceeds by the company. 
  
Welspun Corp: The company has entered into an agreement for supply of 220 KMT of pipes for oil & gas project in the Americas region.  
  
Bajaj Auto: Bajaj Auto plans to expand 3 wheeler & quadricycle capacity to one million per year as the government announces end to permits. 
  
Gufic Biosciences: The National Company Law Tribunal (NCLT), pronounced the order sanctioning the scheme of merger by absorption of Gufic Stridden Bio-Pharma Private Limited with Gufic Biosciences Limited. 
  
Ajmera Realty and Infra: The company has acquired 85 per cent stake in Anirdesh Developers. 
  
Yes Bank: Yes Bank’s capital raising committee would consider the proposal to raise funds by issuing debt securities on a private placement basis on or after September 11, 2018 . 
  
Reliance Naval and Engineering: The company has been informed that IDBI Bank Limited, a lender of the company, has filed an application before the National Company Law Tribunal (NCLT), Ahmedabad, seeking debt resolution under the IBC process . 
  
L&T Technology Services: The company has entered into agreement to acquire Graphene Semiconductor Services.