Index trend and stocks in action April 11, 2018

The benchmark Nifty opened the session with a gap-up and later traded in a capped range before settling down for the day with marginal gains. The price action formed a small body negative candle. Going ahead, we expect Nifty to consolidate and take a breather after the strong upmove seen in the past 3-4 trading sessions.On the upside, Nifty has strong resistance placed in the region of 10,440-10,450, and both the 50-SMA and 100-SMA stand at 10,438. On the downside, support is placed around the level of 10,350, followed by 10,320.

Lemon Tree Hotels:  The Company's wholly owned subsidiary Carnation Hotels Private Limited has executed a Hotel Operating Agreement for operating and managing the property of 120 rooms at Vijayawada, Andhra Pradesh under the Company's brand Lemon Tree Premier. The hotel is expected to be operational by March, 2021.

Infosys: Infosys announced a strategic multi-year partnership communications services provider Calix to develop and deliver new software modules and services.

Dr Reddy Laboratories: Company gets Establishment Inspection Report (EIR) from USFDA for Cuernavaca plant in Mexico.

HFCL: HFCL bags Advance Purchase Order for Rs.579 crore approx from Bharat Sanchar Nigam Limited ('BSNL') for building 2G Global System for Mobile ('GSM') Base Service Set ('BSS') Network in Assam. 

Oricon Enterprises: Oricon enterprises partnered with Indiabulls Real Estate subsidiary for joint development of Worli property.

Star Cement: Star Cement Limited alongwith its subsidiaries have received Rs. 80.26 crores towards Subsidies claim from the Central Government and this amount shall be utilized towards pre-payment of loans.