Index trend and stocks in action January 15, 2018
Nifty opened the last trading session of the week on a positive note and the index consolidated near about the all-time high levels during the initial hours. However, a sharp decline was witnessed during the afternoon session, but soon a U-shaped recovery was seen and Nifty settled the session at all-time high levels. On the daily chart, there is formation of ‘Dragonfly Doji’ at the new all-time high of 10,690 levels. Going forward, the level of 10,580-10,590 remains a crucial support for the Nifty, and as long as Nifty stays above this level, buying on dips would be a good strategy for an upmove up to the levels of 10,740-10,800. However, a close below the zone of 10,580-10,590 would result in extended correction up to the levels of 10,530-10,500.
Power Grid Corporation: Power Grid Corporation pursuant to its selection as the successful bidder under Tariff based competitive bidding, has acquired ERSS XXI TRANSMISSION LIMITED, the Project SPV to establish Eastern Region Strengthening Scheme –XXI (ERSS-XXI) on build, own operate and maintain (BOOM) basis, from REC Transmission Projects Company Limited (the Bid Process Coordinator).
IL&FS Transportation Networks: Meeting of the Board of Directors is scheduled on Thursday, January 18, 2018 to consider the proposal for fund raising by issue of rupee-denominated and dollar-denominated bonds .
Venus Remedies: Export-Import Bank of India (EXIM) has unilaterally declared Venus Remedies and its directors as ‘Wilful Defaulters’.
Asian Granito India: Company has investment in Crystal Ceramics Industries Private Limited (Subsidiary Company) through Partnership firm 'Kediya Ceramics', which has been converted into Company as 'Trodo Ceramics Private Limited'. Thus, 'Trodo Ceramics Private Limited' has now become subsidiary of Asian Granito India.
Religare Enterprises: Divestment of entire stake in Religare Health Insurance Company.
HDFC: HDFC’s board approved to raise about Rs. 13,000 crore by selling shares to institutional investors and QIP.
HDIL: Board at its meeting, approved the allotment of 2,00,00,000 (Two Crore) warrants at an 'Issue Price' of Rs. 70.50 per warrant to Sarang Wadhawan, promoter of the company .
Southern Petrochemicals Industries: Company’s plant have been shut down from January 11, 2018 to attend to routine turnaround activities.
CAPF: Boards of the IDFC Bank Ltd. and Capital First Ltd. approved a merger between the two entities.