Index trend and stocks in action February 15, 2019

Karan Dsij
/ Categories: Trending, Pre Morning
Index trend and stocks in action February 15, 2019

Nifty witnessed a tepid start and continued to drift lower in the first-half of the session. In the second-half, it attempted a bounce back; however, the bears managed to extend the southward move for the fifth consecutive session. A small body negative candle has been formed with a small lower shadow. In the coming session, all eyes will be on the key support zone of 10,690-10,700 as it is the confluence of 78.6 per cent retracement of the recent upmove and the 100-day moving average. Any major slip below this zone is likely to infuse some more pain in the near term, while on the upside, the 200-day moving average may act as a resistance for the index which is currently placed at 10,860, followed by 10,950. 

GMR Infrastructure: With a view to unlock shareholder value, the GMR board has decided to form a sub-committee to consider and evaluate various possible options of demerger to facilitate value unlocking in existing businesses of the group. 
  
Tera Software: The company has informed that it has received projects and work order to the tune of Rs 288.64 crore. 
  
PNC Infratech: The company has informed that PNC Triveni Sangam Highways Private Limited, the company's wholly-owned subsidiary, has received the financial closure letter from National Highways Authority of India. 
  
Infosys: RBL Bank has adopted Finacle Assure for preventive maintenance on AWS cloud. 
  
BGR Energy System: The board of directors at its meeting held today approved the proposal for sale of the entire investment of the company in Sravanaa Properties Limited, a wholly-owned subsidiary. Sravanaa Properties owns landed property admeasuring about 6.18 acres. The proceeds of the sale of investments will be utilized to shore up the working capital or reduce the debt of the company. 
  
Tata Power: The company’s wholly-owned subsidiary has launched a complete residential rooftop solution in Hyderabad. 
  
Jet Airways: Jet Airways’ board has considered and approved a bank-led provisional resolution plan (BLPRP). The BLPRP proposes restructuring under the provisions of the RBI circular in order to meet a funding gap of nearly Rs 8,500 crore, which is to be met by an appropriate mix of equity infusion, debt restructuring, sale/sale and lease back/refinancing of aircraft, among other things. 

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