Index trend and stocks in action May 30, 2018

NSE benchmark Nifty snapped its three-day winning streak and ended the day with a loss of 55 points at 10,633. The price action formed a bear candle. Going ahead, a follow-through move below Tuesday’s session low of 10,616 could lead the market to test its 100-day SMA, which is placed around the level of 10,542. On the upside, the level of 10,680, followed by 10,740, would act as resistance for the Nifty.  

Avenue Supermarts:  A wholly owned subsidiary named Reflect Wholesale and Retail Private Limited has been incorporated. 

UFLEX: Uflex to consider issue of CCPS to promoters on June 1.

Jubilant Foodworks: Jubilant Foodworks says news report regarding stake sale by the promoters in the firm is completely incorrect and baseless. 

Glenmark Pharmaceuticals: The Board of Directors of Glenmark Pharmaceuticals at its meeting held on May 29, 2018, approved the draft share purchase agreement to acquire 100% stake in Zorg Laboratories Private Limited (Zorg) for an aggregate consideration of Rs. 5 lacs before adjustments and subject to legal and financial due diligence. 

GNFC: GNFC clarify that they had a minor gas leak in their TDI Plant in Dahej.

RSWM: The Company has decided to close manufacturing activities at its units situated at No.26/8, Perumal Kovil Street, Thirubuvanai, Puducherry and at Bagalur, District Hosur, Tamilnadu, w.e.f 31st May, 2018.

Rushil Décor: Rushil Décor to issue shares on preferential basis at a price of Rs 865 each.

Fortis Healthcare: Fortis Healthcare board decides to initiate fresh bidding process. New bids to be submitted by June 14.