Index trend and stocks in action May 27, 2019
The last trading session of the week turned out to be a historic one for the Nifty as the index ended the session at a record closing high. The price action formed a bull candle carrying a lower shadow. Going ahead, the level of 11,880 is likely to act as an immediate resistance; however, sustaining above the level of 11,880 would open up gates for all-time high levels of 12,041. On the downside, the last week low of 11,592 is likely to act as a strong support zone for the index and, as long as the index stays above this zone, it will pave the way for the index to reach the level of 12,200 in the short-medium term. The RSI is making a negative divergence, which means that on the daily chart, the index has formed a fresh high, while the RSI has not. Also, the daily MACD stays bullish as it is trading above its signal line.
Info Edge: The company has invested through its wholly-owned subsidiary about Rs 5 crore in Printo Document Services Private Ltd.
IDFC: The board has granted its approval for borrowing funds from time to time through issuance of non-convertible debentures and commercial papers on a private placement basis for an amount not exceeding Rs 500 crore, which is within the overall borrowing limit of Rs 10,000 crore.
V-Mart Retail: The company has opened a new store in the state of Jharkhand. This takes the total number of stores to 223 in 176 cities across 17 states. The total tally of Jharkhand is 18 stores.
Salzer Electronics: Salzer Electronics has entered into a definitive agreement with the promoter (CMS Group) of Kaycee to acquire its stake of 72.32 per cent in Kaycee Industries Limited in an all-cash deal and make an additional offer to purchase 26 per cent from the public for a total equity value of Rs 22 crore.
Khadim India: The company has appointed Dinesh Karthik to act as brand ambassador of the company for endorsement of company's products/brands and promotional appearances relating thereto.
Manpasand Beverages: The Commissioner of Central GST and Customs has carried out search and seizure proceedings at various premises of the company on May 23, 2019, and further inquiry was conducted on May 24, 2019 at GST Bhavan office of Vadodara.