Index trend and stocks in action February 14, 2018
Nifty witnessed a gap-up opening and, thereafter, it moved in narrow range. However, buying interest emerged in the second half of the session and Nifty ended with a gain of 0.81%. The day’s action formed a small body bull candle. The Nifty has managed to defend its 100-day EMA placed at 10,405. Going ahead, the zone of 10,600-10,640 would be seen as an immediate resistance level, whereas a move below 10,480 level would reinforce the selling pressure, taking Nifty towards 10,440-10,400 levels.
Rolta: Rolta and its international subsidiaries announced an agreement to implement restructuring of Senior Notes due in 2019 and 2018.
PVR: PVR open five screen multiplex in Hyderabad.
NBCC: Recommended splitting of the company's equity shares of Rs. 2 each into two equity shares of face value of Rs. 1/- each, subject to the approval of shareholders.
Vascon Engineers: Board approved the raising of funds upto Rs. 100 crore.
Apollo Tyres: Apollo Tyres to acquire up to 40 per cent in KT Telematic Solutions Private Limited.
Fortis Healthcare: Fortis Healthcare seeks extension till February 28 to announce Q2, Q3 results.
Mangalam Cement: The board approved setting up of a 11 MW Waste Heat Recovery (WHR) plant at existing factory at Morak, Rajasthan.
Bank of Baroda: The bank is exiting from its operations in South Africa and the exit will not have any major impact on the financials of the bank.
JSW Steel: Commencement of mining operations in Tunga Mines having a capacity of 0.3 MTPA.
Indoco Remedies: The company has received 8 observations (483s). All the observations are correctable and the company is in the process of preparing responses for the same. Exports from the Solid Dosage Plant constitute less than 10 per cent of the company's total export sales.
IOL Chemicals and Pharmaceuticals: Starts production of anti-diabetes drug Metformin.
Idea Cellular: Allotment of 32,66,33,165 equity shares on preferential basis to promoter/ promoter group entities aggregating to Rs. 3,250 crore .
CG Power: CG Power to sell Hungary business (excluding switchgear business) for 38 million euros. Deal expected to be completed by March 31.