Index trend and stocks in action June 13, 2018

The NSE benchmark Nifty opened on an optimistic note and later extended its upmove to end near the important psychological mark of 10,850. The price action formed a positive candle. In the coming session, a follow-through move above Tuesday’s session high of 10,857 may take Nifty towards the levels of 10,910-10,930. On the downside, the zone of 10,770-10,780 is a crucial support zone. The RSI on the daily chart has registered a fresh 14-period high and has managed to cross above the 60-mark, which is positive for the index.  

Wipro: Wipro announced that it has been named a winner in the 'HfS Research Blueprint Report on retail customer engagement services. 

TCS: The  board of directors will consider a proposal for buyback of equity shares of the company at its meeting to be held on June 15, 2018. 

Bharat Forge: Bharat Forge has acquired 34.53 per cent stake and Bharat Forge International, UK, (a wholly-owned subsidiary of the company) has acquired 0.73 per cent stake in TEVVA, aggregating to combined stake of 35.26 per cent.  

Page Industries: The company has stated that the  licence agreement with Jockey International Inc. has been extended till December 31, 2040. 

Federal Bank: Federal Bank and Equirus Capital have entered into definitive agreements for investment by the bank up to 19.89 per cent in the equity share capital of Equirus Capital. 

Sun Pharma:  The company has received an establishment inspection report (EIR) for its Halol unit from the US FDA. 

Videocon Industries: The company will file a defamation suit against Bloomberg.  

Reliance Industries: Reliance Industries has completed acquisition of 72.69 per cent stake in AI firm Embibe . 

PNB: The  PNB board meeting on June 15 will consider proposal for issuance of up to 10 crore equity shares to its employees under the ESOPs. 

Essel Propack: The company will issue Commercial Paper (CP) for Rs 30 crore on a private placement basi