Index trend and stocks in action May 11, 2018

Nifty opened the session on a positive note and touched the 10,785-mark. However it failed to sustain at higher levels and gave away early gains and settled near the day’s low at the end of the session. The price action formed a bear candle. In the coming session, the level of 10,750, followed by 10,785, will act as immediate resistances for the Nifty, while on the way down, the level of 10,690 is a crucial support level and failure to hold this support level would drag the index lower up to the level of 10,630.  

Sharon Bio-Medicine: Company received consent from Maharashtra Pollution Control Board to operate Taloja API plant. 

Pennar Industries: Company receives multiple orders worth Rs 492 crore. 

Fortis Healthcare: The Board, post having the detailed discussions on the pros and cons of each offer, decided by majority, to recommend the offer of Hero Enterprise Investment Office-Burman Family Office. 

PC Jeweller: PC Jeweller board approves buyback of 1.2 crore shares not exceeding Rs 424 crore at a price of Rs 350 per share.

Reliance Industries: Reliance Jio announces new postpaid plan starting Rs 199 per month.

Shree Pushkar Chemicals and Fertilisers: Shree Pushkar Chemicals and Fertilisers board approves preferential allotment of equity on preferential basis to promoter group.