Index trend and stocks in action January 14, 2019

The NSE benchmark Nifty after a stable start, lost ground and oscillated within a 110-point range before ending the final trading session with a modest decline of 0.25 per cent at 10,795. The price action formed a small bear candle carrying long lower shadow. In the recent past, Nifty has been facing profit-booking at higher levels and repeatedly testing lower trendline of a triangle. In the coming session, the 100-day moving average, which is placed around the level of 10,856, is likely to act as an immediate resistance, followed by 10,900. A move beyond the 10,900 mark would unfold the next leg of the rally towards the swing high of 10,985, followed by 11,090. On the downside, the level of 10,730 is likely to act as a support for the index and a breach of this support level would lead to re-testing of the swing low of 10,629.  

SPARC: SPARC had out-licensed XELPROS to Sun Pharma in June 2015 and this commercialisation of XELPROS, has triggered a milestone payment of USD 10 million and sales linked royalties by Sun Pharma to SPARC. 
  
KNR Constructions: The company's two wholly-owned subsidiary companies have received the financial closure letter from the National Highways Authority of India. 
  
NTPC: The company plans to raise Rs 4,000 crore through private placement of secured non-convertible bonds in the nature of debentures at a coupon of 8.30 per cent per annum. 
  
Cadila Healthcare: Zydus has received final approvals from the USFDA for Betamethasone Dipropionate cream and Amlodipine and Atorvastatin tablets .
  
Infosys: The board has approved a special dividend of Rs 4 per share and buyback up to Rs 8,260 crore at a maximum of Rs 800 per share. 
  
Adani Green Energy: The company has acquired balance 51 per cent equity share capital of Kodangal Solar Parks Private Limited (KSPPL) from FS India Devco Private Limited. With this acquisition, KSPPL has become a wholly-owned subsidiary of the company.