BSE See NSE See 39,470.06
117.39 (0.3%)

Index trend and stocks in action February 25, 2019

Karan DSIJ
/ Categories: DSIJ Mindshare, Pre Morning
Rate this article:
Index trend and stocks in action February 25, 2019

The Nifty witnessed a lacklustre session on Friday as it moved extremely choppy and ended the day almost near the flat line. As a result, it formed an inside day, which is a day where the price traded within high-low of previous trading session. Going ahead, the levels of 10,820, followed by 10,860, are likely to act as a resistance levels as the crucial moving averages are placed around these levels and unless Nifty trades decisively above these levels we do not expect any major upmove. On the downside, strong support is seen around the level of 10,680 as the 100-day moving average is placed at this level. Hence, in the coming session, we expect the index to move in a range-bound manner with some amount of volatility, where the level of 10,820, followed by 10,860, is likely to act as barriers for the bulls, while 10,680 is likely to act as a support.  

Jubilant Life Sciences: The board of directors of the company’s material wholly-owned subsidiary, Jubilant Pharma Limited ('JPL'), has at its meeting approved the proposal to launch an offering of unsecured bonds (the 'Notes') outside India. The Notes are proposed to be (i) issued to institutional investors outside India and (ii) listed and quoted on the official list of the Singapore Exchange Securities Trading Limited. The issuance of the Notes by JPL will not be a public offering in India. 
Adani Port: Adani Logistics Limited ("ALL"), a wholly-owned subsidiary of the company, has approved the proposal for acquisition of 100 per cent equity shares of Adani Agri Logistics Limited ("AALL"), Adani Agri Logistics (Dahod) Limited ("Adani Agri Oahod"), Adani Agri Logistics (Darbhanga) Limited ("Adani Agri Darbhanga") and Adani Agri Logistics (Samastipur) Limited ("Adani Agri Samastipur") (collectively "Adani Agri") from Adani Enterprises Limited ("AEL"). 
Manappuram Finance: The board of directors has approved equity infusion up to Rs.100 crore  in its subsidiary Asirvad Micro Finance Ltd 
Jet Airways: Additional two aircraft's have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements. 
Sharon Bio-Medicine: The company’s API facility located at Taloja in Maharashtra received 4 forms 483 observations post the inspection completed by USFDA. The management of the company believes these observations can be addressed by submitting appropriate Corrective And Preventive Action''s (CAPA''s). 

NTPC: The company has informed that units at NTPC-Kaniha continued to generate above 92 per cent PLF during the initial five days of stir at MCL mines. Thereafter, the generation was slowly ramped down at plant since February 17. One unit of 500 MW had to be stopped, but was put back in service on February 22 after resumption of coal supplies from the mines. Now all the units are operating above 92 per cent PLF . 
Adani Power: The board has approved the proposal for acquisition of entire stake of Adani Power Dahej Limited; Adani Pench Power Limited; and Kutchh Power Generation Limited, which are wholly-owned subsidiaries of Adani Enterprises (AEL) from AEL. 
Corporation Bank: The bank has received an amount of Rs.9,086 crore (towards contribution of the Govt. of India). 
Motilal Oswal Financial Services: The company has clarified about an order dated February 22, 2019 passed by the Whole Time Member of SEBI against one of its subsidiary company Motilal Oswal Commodities Broker Private Limited ('MOCBPL'), that MOCBPL and the Motilal Oswal group itself is the victim of National Spot Exchange Limited ('NSEL') scam like thousands of investors. It has own investment of Rs. 58.7 crore which is due from NSEL on the date of default.  
IIFL Holdings: The company has clarified that the SEBI order on IIFL Commodities has no impact on the businesses of other companies of the IIFL group. 

Previous Article Good times to start with-Realty stocks to remain in focus!
Next Article Five stocks with buying interest

Please login or register to post comments.

news letter

More for the early bird.

Get the post-market reports and breakfast news right in your inbox. See latest »