Index trend and stocks in action January 02, 2018

During the previous trading session, Nifty opened on a flattish note and consolidated within a slender range for most part of the session. But the bears dominated the last hour of trade as the index witnessed a decline of almost one per cent. The price action resulted in formation of a sizeable bear candle. Going ahead, Nifty has immediate support around the level of 10,400 and a decisive breach of this support zone could lead to further decline up to the levels of 10,380 and 10,350. On the upside, the level of 10,480-10,490 would act as a strong hurdle for the index. The 14-period RSI has slipped below the 60-mark.

Thermax: Thermax wins Rs. 327 crore order from a public-sector company based in Western India for a BTG (Boiler-Turbine-Generator) package on EPC basis. 

SRF: SRF commissions 40,000 tonnes per annum chloromethanes plant at Dahej. 

Idea Cellular: The company will hold a board meeting on Thursday, January 4, 2018 to consider a fund raising proposal. 

PVR: PVR opens 3 screens multiplex at VVIP Style Mall in Ghaziabad. 

JM Financial: Seeks shareholder’s approval to raise Rs. 650 crore. 

Acrysil Limited : Acrysil acquires additional 3.75 per cent equity shares of Homestyle Products Limited, UK through its wholly-owned subsidiary i.e. Acrysil UK Limited. The total equity stake of Acrysil Limited through Acrysil UK in Homestyle Products is now increased to 98.75 per cent . 

Prestige Estates: Prestige Estates to buy Capitaland’s stake in various entities for Rs. 342 crore. 

GAIL: GAIL commissions India's second largest rooftop solar PV at Petrochemical Complex, PATA (UP). 

Bajaj Hindusthan Sugar: Successfully implements BHSL S4A Scheme .