Index trend and stocks in action January 30, 2018
Nifty opened the session with a positive bias and extended its upmove. Nifty registered its all-time high level of 11,171.55. But, at the higher levels, market participants booked profit and, as a result, the gains were limited and Nifty settled at 11,130. The price action led to formation of a bull candle with a wick on the upper side, indicating profit-booking at the higher levels. Going ahead, Nifty has crucial support placed in the region of 11,090-11,100 and any move towards this support zone could be used as an incremental buying opportunity. On the upside, the levels of 11,175, followed by 11,200, are the resistance points for the Nifty. The momentum oscillators on the daily chart have entered the overbought zone and Nifty may consolidate in the coming session before proceeding on its next leg of upmove.
Welspun Corp: Company has received additional orders for supply of 232K MTs pipes, including a large order, with these additions, the Company has current order book of 1,279K MTs valued at INR 82 Billion.
Snowman Logistics: Snowman Logistics Limited inaugurated their new temperature-controlled warehousing facility at the Gateway Distriparks Logistics Park at Krishnapatnam, Andhra Pradesh.
Rushil Décor: commencement of commercial production of WPC Board by the company at Karnataka.
Biocon: Mylan and Biocon Receive Positive CHMP Opinion for SemgleeTM, Biosimilar Insulin Glargine.
MOIL: Meeting of Board of Directors of the company will be held on February 05, to consider the proposal for buy back.
HCL-Tech: HCL-Tech a leading global IT services company, today announced a five-year IT infrastructure services and application management contract with Cadent, the UK’s largest gas distribution network.
Ester Industries: Ester Industries Limited, India’s leading manufacturer of Polyester Films, Engineering Plastics and Specialty Polymers, has entered into a long term agreement with Shaw Industries Group Inc, USA, a wholly owned subsidiary of Berkshire Hathaway, Inc to supply circa 2,500 tonnes per year of its stain resistant Master batch MB-03. The total size of this single order is estimated to be around Rs 900 million per year which is more than double the Company’s FY2017 Speciality Polymer revenues which amounted to Rs 430 million.
Reliance Infrastructure: Reliance Infrastructure wins EPC contract of Rs. 882 crore for Road Project.
ICICI BANK: ICICI Bank to acquire 9.90% stake in FTL Technology Systems
Inox Leisure: Inox Leisure to acquire 50% stake in Swanston Multiplex Cinema.