Index trend and stocks in action March 16, 2018

Nifty opened the session with a negative bias and remained quite lacklustre for the better part of the session. However, selling pressure was seen in the latter half and eventually Nifty concluded the session below the 10,400-mark. The price action formed a negative candle with a range that was almost identical with the candle of the previous session. Going ahead, immediate support for the Nifty is seen around the 10,330-mark and violation of this support would lead to accelerated downward move towards the level of 10,300, followed by 10,270, which is 61.8 per cent retracement level of the recent up-move. On the other hand, the zone of 10,420-10,450 is a stiff resistance zone for the Nifty and a decisive breakout above this resistance zone would lead to an upmove up to the levels of 10,550-10,600.

Dilip Buildcon:  NHAI declares company as the lowest bidder for hybrid annuity model project worth Rs. 1,004 crore in the state of Madhya Pradesh.  

HDFC: HDFC AMC, a subsidiary of HDFC has filed the draft red herring prospectus with the SEBI.  

HDFC Bank: HDFC Bank has completed the issue of Rs. 23 billion, Rupee Denominated Bonds (RDB).  

Adani Transmission: Adani Transmission acquires 100 per cent stake in Fatehgarh-Bhadla Transmission SPV from PFC Consulting.  

Wipro: Wipro invests US$2.02 million to acquire 20 per cent stake in Avaamo Inc.  

Gravita: Gravita grabs orders worth Rs. 300 crores.  

Purvankara: Provident Housing Limited, a 100 per cent subsidiary of Puravankara, India’s leading realtor has forayed into Goa with the launch of its maiden property ‘Adora de Goa’.  

Bharat Financial Inclusion:  Bharat Financial Inclusion completed its third securitization transaction in FY18 of Rs. 450.82 crore. With this transaction, the company has completed securitization transactions worth Rs. 1,114.49 crore in FY18.