Index trend and stocks in action February 19, 2018

Karan Dsij
/ Categories: Trending, Markets, News

The last trading day of the week saw the Nifty ending near day’s low with loss of about 93 points. The price action formed a sizeable bear candle. After holding the level of 10,500 on a closing basis for the past three trading sessions, the index closed below the 10,500-mark and now, going ahead, we are placed very close to the important support level of 10,400. The 100-day EMA and the rising trendline supports are placed nearby this level. Hence, it is important that bulls hold on to the 10,400-mark, since a decisive move below the 10,400 level could lead to further correction which may drag the index down to the level of 10,300. On the upside, the zone of 10,500-10,550 could act as stiff resistance level for the Nifty.

ARSS Infrastructure: Company has secured two orders total amounting to Rs. 121.09 crores from Rail Vikas Nigam. 

Siemens: Meeting of the Board of Directors of the company is scheduled to be held on February 21 to consider the proposals of sale of the company mobility business and sale of the company’s mechanical drives business. 

Infosys: The company announces that it has signed an agreement for divestment of its entire investment from Onmobile Systems Inc. USA for a total consideration of US$2,498,756. 

Reliance Industries: Reliance Industrial Investments and Holdings Limited ("RIIHL or the Company"), a wholly owned subsidiary of Reliance Industries Limited (RIL) proposes to acquire equity shares of The Indian Film Combine Private Limited (IFC). 

Dilip Buildcon: Dilip Buildcon has been declared L-1 bidder for a new EPC project valued at Rs. 670.50 crore by National Highways Authority of India in the State of Uttar Pradesh. 

Adani Enterprises: Company welcome’s decision by the Federal Court as it represents an important milestone in the development of the Carmichael Project and paves the way for the granting of interests in land pursuant to the agreed terms of the Indigenous Land Use Agreement (ILUA). 

ITD Cementation: Company has received a Letter of Acceptance from Tamil Nadu Generation and Distribution Corporation for Udangudi Super Critical Thermal Power Project. The total value of contract is approx. Rs 1903 crore. 

BHEL: BHEL commissions 18 MW Hydro-Electric Project in Punjab equipped with its Highest Rating Bulb Turbines. 

Reliance Communication: The shareholders of the company approved the monetization of its assets. Post monetization, the debt and liabilities of the company will reduce by Rs. 25,000 crore by prepayment of debts and transfer of Department of Telecommunications' Spectrum Instalments.   

Natco Pharma: USFDA completes inspection of Natco’s Mekaguda API facility with zero observations. 

State Bank of India: State Bank of India to raise about Rs. 8,800 crore via preferential issue to government. 


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