Index trend and stocks in action January 29, 2018
On the day of F&O expiry, after witnessing volatility in the mid-session, Nifty recovered from lower levels and ended the session with modest loss. The price action formed a small body negative candle with long lower wick, which resembles a ‘Hanging Man’ candle, pattern that occurs mainly at the top of uptrend. This can act as a warning of a potential downward reversal, which needs confirmation to be termed as a reversal pattern. Going forward, important support for the Nifty is placed around the level of 10,990, but if Nifty fails to hold this support level, then a correction is expected up to the levels of 10,930-10,900. On the upside, the high of 11,110 might act as immediate resistance for the Nifty, followed by 11,200.
FIEM Industries: Fire broke out in one portion of Unit-5 in Tamil Nadu. Company has initiated necessary procedure for insurance claim as company’s assets are adequately covered with the insurance.
Vakrangee: Vakrangee announces alliance with Cinestaan Digital Private Limited to offer free and offline videos to citizens from Vakrangee Kendra.
Jagran Prakashan: Jagran Prakashan, is pleased to inform you that as per the recently released Indian Readership Survey 2017, Dainik Jagran has for the first time become the No.1 newspaper in Haryana with an Average Issue Readership of 13.28 lakhs. In the two major towns of Gurgaon and Faridabad too, Dainik Jagran maintains its lead over its competition.
Havells: The Board has approved a total investment of up to Rs. 360 for setting up a new facility to manufacture consumer durables in the state of Rajasthan excluding the cost of land which is already owned by the company, spread over a period of 3 years.
FDC: The company continues with its approved status from UK MHRA (Medicines and Healthcare Products Regulatory Agency), for its Ophthalmic manufacturing facility situated at Waluj, Aurangabad, based on recent Good Manufacturing Practice (GMP) inspection held at the said plant.
Hind Copper: Board meeting to be held on January 31, 2018 to consider raising funds by issuing of equity shares through QIP method.
Capital First: The Company has raised Rs. 500 crore by issue of NCD’s on private placement basis.
Kokuyo Camlin: The Board of Directors have given in-principal approval for winding up of its wholly- owned subsidiary M/s. CamHn International Limited.
Prataap Snacks: Prataap Snacks signs new pact for third party manufacturing of potato chips at three locations.
Amrutanjan Healthcare: The company to consider sub-division of equity shares of face value of Rs. 2 each on February 13.
Bharat Forge: Company has incorporated a wholly-owned subsidiary company in Israel.
Reliance Industries: Reliance Jio offers free voice and unlimited data at Rs. 49 for 28 days for Jiophone users.