Index trend and stocks in action March 18, 2019

Karan Dsij
/ Categories: Trending, Pre Morning
Index trend and stocks in action March 18, 2019

Nifty continued its northward movement on Friday, but in the last leg of trading, Nifty pared some gains from its highs and ended the day well off the session high but still above the 11,400 mark with a net gain of 84 points. The price action formed a bull candle with long upper shadow, indicating profit-taking at higher levels. Nifty has witnessed a rally of almost 900 points from February the low of 10,586, leading daily stochastic oscillator to hover in overbought region, indicating that the index may slip into some consolidation. In the coming session, the level of 11,490 is likely to act as an immediate resistance level, followed by 11,545, while on the downside, 11,360 is likely to act as an immediate support level, followed by 11,300.  

IRB Infrastructure Developers: Yedeshi Aurangabad BOT project implemented by wholly-owned SPV of the company viz. Yedeshi Aurangabad Tollway Pvt. Ltd ('SPV'), has been issued a provisional certificate by the competent authority. Consequently, the SPV has started partial toll collection on this project.

Vodafone Idea: A meeting of the board will be held on March 20, 2019, to consider, discuss and decide,  various matters in connection with the rights issue, including the terms and conditions such as the instrument, issue price, rights entitlement ratio, record date, timing of the rights issue and other related matters.

Lupin: The company's subsidiary Novel Laboratories Inc. has received a letter from the USFDA classifying the inspection conducted at its Somerset (New Jersey) facility in December 2018 as Official Action Indicated (OAI). The USFDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed.

Cadila Healthcare: Zydus Cadila has received final approval from the USFDA for valsartan and hydrochlorothiazide tablets.

DHFL: The special committee of the board of directors of the company considered and accorded approval to disinvest to Olive Vine Investment Limited, an affiliate of the Warburg Pincus Group, 1,92,50,719 equity shares constituting 30.63 per cent of the paid up capital of Avanse Financial Services Limited (Avanse), i.e. its entire shareholding held in Avanse.

Indo Amines: No observation' letter has been received from the BSE for proposed amalgamation amongst Core Chemical (Mumbai) Private Limited and Key Organics Private Limited with Indo Amines Limited so as to enable the company to file the scheme with NCLT.

Bandhan Bank: The bank has received "No Objection" from the Reserve Bank of India for the proposed scheme of amalgamation of GRUH Finance Limited into and with Bandhan Bank.

Karnataka Bank: Karnataka Bank has partnered with Karvy DigKonnect for contact centre services.

Lumax Auto Technologies: The company decided to discontinue PCB manufacturing w.e.f. April 1, 2019. In addition, the board has also approved the disposal of plant and machinery to Lumax Industries Limited relating to the PCB business on arm’s length basis and not below its book value.

Rate this article:
2.5

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

IPO Analysis29-Mar, 2024

Expert Speak29-Mar, 2024

Mindshare29-Mar, 2024

Multibaggers28-Mar, 2024

Knowledge

General26-Mar, 2024

MF25-Mar, 2024

General18-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR