Index trend and stocks in action January 22, 2018
Nifty traded jubilantly and scaled to new record high, courtesy encouraging quarterly earnings and supportive global markets. It was yet again banking and financials which led the rally, closely followed by others. Nifty settled at 10,895 up by 0.72%. The price action formed a sizeable bull candle characterised by significant real body with wicks on either side, suggesting lack of follow through beyond Thursday’s decline amid broad-based buying.
Tata Steel: Tata Steel to raise Rs. 12,800 crore via rights issue.
DFM Foods: Company has launched new product CRAX Cheese Balls in select markets.
Pioneer Distilleries: The workmen have agreed to suspend the strike .
Mercator: The wholly-owned subsidiary in India under the name of Mercator OceanTransport Limited has been incorporated.
BEML: BEML receives FIEO’s Southern Region Export Award (Gold).
Shopper Stop: Company has opened Shoppers Stop stores at Big India Mall, Thane and at Palladium Mall, Phoenix Market City, Chennai. With opening of these stores, the company has now 82 Shoppers Stop stores (including six airport stores).
JKIL: Receipt of Letter of Acceptance from Delhi Metro Rail Corporation (DMRC) for Line 2A Architectural Station on Dahisar (east) to DH Nagar Corridor of Mumbai Metro Rail Proje ct.
ONGC: ONGC to buy government’s 51.11 per cent stake in HPCL for Rs. 36,915 crore at Rs 473.97 per share.
Venus Remedies: Due to unavoidable circumstances, the company withdraws the present QIP issue.
Bharti Airtel: Approved the acquisition of 5 per cent (approx.) equity shares of Bharti Teleports, a subsidiary company.
IFCI: Government is considering capital infusion of Rs. 100 crore during the Financial Year 2017-18 to IFCI.
HDFC: HDFC increases MTN programme (Medium Term Note Programme) to US$1,300 million.
Welspun Enterprises: Company has completed the acquisition of 49 per cent stake in the projects from MBL Group at the agreed consideration of Rs. 230 million. WEL shall replace the Bank Guarantees provided by MBL group within 60 days of the Appointed Date.