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CAPITALSTARS – भारत में खरीदारी के लिए बेहतर हैं ये स्‍टॉक: 2 NOV 2018

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The NSE benchmark Nifty opened the session with a gap-up, but faced resistance at 61.8 per cent retracement level of the recent downmove and, thereafter, it moved in a defined range. In the end, Nifty settled the day almost unchanged at 10,380. The price action formed a small body negative candle indicating breather after a sharp rally. Going ahead, we expect Nifty to face resistance in the zone of 10,420-10,450 as it is the confluence of the bearish gap formed on October 19 and the 61.8 per cent retracement level of the recent leg of downmove (10,710-10,004.55). On the downside, immediate support is seen around the level of 10,328, which is 20-DMA and the next support is seen around the 10,275 level. In the coming session, we expect the Nifty to consolidate with a positive bias and sustain above the hurdle of 10,420-10,450, which may open up for further upside up to the level of 10,510, followed by 10,580.

TCS: The company has acquired W12 Studios, an award-winning digital design studio based in London.

Aarti Industries: The board has approved raising of funds of Rs 750 crore by way of issue of equity shares or any other instruments or security.

Deepak Nitrite: Deepak Phenolics Ltd. (DPL), a wholly-owned subsidiary of Deepak Nitrite, announced commencement of commercial production at its mega-plant for phenol and acetone. This facility, aligned with the ‘Make in India’ initiative of Government of India, has a capacity to manufacture 200,000 MTPA of phenol and 120,000 MTPA of its co-product acetone. This is supported by capacity to manufacture 260,000 MT of cumene for captive consumption.

Triveni Turbine: The board has approved share buyback proposal of 66.7 lakh shares representing 2.02 per cent of the paid-up equity share capital at Rs 150 per share, aggregating to Rs 100 crore.

Goodyear India: The company will be shutting down its manufacturing plant in NCR and the boiler operations of the plant from Nov. 4 to Nov. 10 in response to Environment Pollution Authority’s public notice to all industries regarding pollution control.

ITD Cementation: The company has received a complaint regarding alleged irregularities in disposal of scrap. Based on the findings, some employees were found to be engaged in unauthorised practices, resulting in a loss to the company estimated at Rs 365 lakh. The company said will take action, including termination of these employees.

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