(MENAFNEditorial) Nifty futures/Bank Nifty futures market closed on 9975 / 24417 According to technical analysis if Nifty futures and Bank Nifty future moves up-word in tomorrow treading session then 10097 will be small resistance for Nifty futures and at the same time 24813 will be small Resistance for Bank Nifty futures, if it break this level then then Nifty futures can touch 10184 level and Bank Nifty futures can touch 25452 level in next few days. It will be hard resistance for Nifty futures and Bank Nifty futures. Meanwhile in reveres there is small support on 9924 for Nifty futures and 24293 is for Bank Nifty futures after breaking this support with volume there is big support for Nifty futures on 9797 and 23820 for Bank Nifty futures.
NSE - WEEKLY NEWS LETTERS
✍ TOP NEWS OF THE WEEK
ZYDUS RECEIVES FINAL APPROVAL FROM USFDA FOR ITRACONAZOLE CAPSULES : - Announced on Thursday that the company received the final approval for Itraconazole Capsules from the USFDA, surging the companys stock on the bourses. The drug is used to treat a variety of fungal infections and will be manufactured at the groups formulations manufacturing facility at Moraiya, Ahemdabad. The group has over 150 approvals and has filled over 300 AND As since the commencement of the filing process in FY 2003-04. The stock recorded a trade volume of 25,40,423 shares and a trade value worth Rs 12,669.85 lakh during Thursdays trade on NSE.
VIVIMED LAB RECEIVES GMP CERTIFICATION : - The share priceshot up in the intraday trade on Thursday as the company announced that its Jeedimetla FDF plant near Hyderabad bagged the approval of the Ukraine ministry of Health, receiving an accredition with GMP certification. The stock recorded a trade volume of 1,18,80,538 shares and a trade value worth Rs 17,470.33 lakh during Thursdays trade on NSE.
ORCHID PHARMA GETS EIR FROM USFDA : - Has received the Establishment Inspection Report from USFDA based on the successful inspection of the Active Pharmaceutical Ingredients manufacturing facility located at SIDCO Industrial Estate, Alathur, Kanchipuram District, Tamil Nadu, India. This facility was inspected by USFDA in May 2017. It attracted a traded volume of 18,92,805 shares and traded value of Rs 385.56 lakh on the NSE. The company hit its 52-week high of Rs 45.85 on September 28, 2016 and had hit its 52-week low of Rs 16.7 on September 6, 2017, on the NSE. Orchid Pharma is involved in the development, manufacture and marketing of various bulk actives, formulations and nutraceuticals. The company offers formulations for cardiovascular, anti-diabetic, neuropsychiatry and nutritional supplements. It offers active pharmaceutical ingredients, including Cephalosporins-Orals, Cephalosporins-Injectibles, Veterinary Products and Non-Antibodies.
VASCON ENGINEERS BAGS CONTRACT WORTH RS 235 CRORE : - It received Letter of Award amounting to Rs 235.76 crores from Shapoorji Pallonji and Company, a domestic entity, for civil construction in Andhra Pradesh. The work involves the construction of affordable housing in Adoni Municipal Area and Nandyal Municipal Area of Kurnool district in Andhra Pradesh. The work has to be completed within 13 months from the date of receipt of work order. Vascon Engineers is an engineering, procurement and construction company. The company's principal activities include real estate development, hospitality, and manufacturing and building management system.
PUNJ LLOYD BAGS ORDER FROM MINISTRY OF DEFENCE : - Rallied on bourses on Mondays trade after the company bagged orders worth Rs 120 crore for the supply and commissioning of five full body truck scanners rom the Ministry of Home Affairs, said the company in a filing on Monday. Punj Lloyd is the first private sector company in India to install these X-Ray based FBTS at the countrys border which helps detect concealed arms, ammunition, explosives, detonators, IEDs, Narcotics and fake currency. Meanwhile, the stock gained % at Rs per share on BSE. The stock on NSE attracting a total traded volume of shares and a traded value of Rs lakhs. The stock on yearly basis has lost 9.31% and has outperformed BSE Small-cap index and Nifty Infrastructure index Punj Lloyd Limited is engaged in engineering, procurement and construction activities, as well as trading of steel products. The Companys segments include Engineering, procurement, and construction services, which includes provision of EPC services in oil, gas and infrastructure sectors etc.
DIXON TECH WITNESSES FIFTH BEST MARKET DEBUT IN SEVEN YEARS : - Gave a stellar performance on its debut day after listing at a whopping premium of 54.3% at Rs 2,725 per share on NSE as compared to its issue price of Rs 1,766 per share. The company has marked fifth best share market debut in the past seven years, reported a leading news agency. The stock closed at Rs 2,891.55 per share, at a premium of 63.7%. The proceeds from the fresh issue is utilised for the repayment/pre-payment, in full or in part, of certain borrowings availed by the company; setting up a unit for manufacturing of LED TVs at the Tirupati Facility; enhancement of our backward integration capabilities in the lighting products vertical at our Dehradun 1 Facility; upgradation of the information technology infrastructure of the company; and general corporate purposes. The company had issued 10,18,027 equity shares at Rs 1,766 per share, aggregating to Rs 179.79 crore to 15 anchor Investors. The was subscribed 117.83 times at 2315 hours on last day of subscription. The QIB part got subscribed by 134.77 times, NII segment got subscribed by 345.73 times, while the retail part of the IPO issue got subscribed 10.11 times. The earlier best listing was that of D-Mart operator, Avenue Supermart, which listed at a premium of 102% over its offer price in March this year. Quess Corp, which did its IPO in July 2016 listed at a premium of 57%.
BALRAMPUR CHINI APPROVES INVESTMENT OF RS 175 CRORE IN EDUCATION SECTOR : - Announced that the board of the company has approved the investmentof Rs 175 crore in the education sector over the next five years. The board of directors of the company at its meeting held on September 15,2017, has considered and approved an investment ofuptoRs 37.50 crore as first tranche and a cumulative investment of Rs 175 crore, in tranches, over a period of five years in financing activities in education sector. The stockattracted a traded volume of 9,34,546 shares and traded value of Rs 1,596.67 lakh on the NSE.
ZEE ENTERTAINMENT COMPLETES SALE OF SPORTS BUSINESS TO SONY : - Has completed first phase of the transaction for sale of sports broadcasting business of the company to Sony Pictures Networks India and its affiliates, upon receipt of USD 330 million out of total consideration of USD 385 million.Since certain condition precedents relating to closure of second phase of the transaction were taking time, the company and SPNI has mutually concluded closure of the transaction upon receipt of remittance of consideration of USD 36.32 million from SPNI.The adjustment to the consideration amount inter alia is mainly consequent to retention of a lease hold immovable property at Dubai by Taj TV limited, Mauritius and certain working capital adjustments of the sports business as per the terms of agreement.
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