Index trend and stocks in action March 20, 2019

Nifty, extended its winning streak for the seventh consecutive day, started the session on a firm note, and thereafter, it was a tough battle between the bulls and the bears. However, as the day progressed, the bears' grip seemed to loosen as bulls managed to close above the 11,500 mark. The price action formed a small body bull candle carrying a long lower shadow and extending its higher high-low sequence. Going ahead, the level of 11,550 is likely to act as an immediate resistance for the index and a move above this level would result in an extension of the rally. On the flipside, support is seen around the level of 11,450, followed by 11,370.

DLF: DLF has announced its second joint venture with Hines. DLF-Hines JV will invest up to Rs 1900 crore to develop 2.9 million square feet in Udyog Vihar, Gurugram.

Rallis India: The company's operations at Ankleshwar unit have been suspended due to flash fire during transfer operations.

Viaan Industries: The board has agreed to acquire equity stake in Avalance Technology Pvt Ltd (a company proposed to be incorporated under the Companies Act, 2013) for a cash consideration. The said investment upon completion will translate into 50% equity stake in Avalance Technology Pvt Ltd on a fully diluted basis. The total investment is likely to be completed by April, 2019.

Newgen Software Technologies: Newgen has secured another patent for its invention-integrated and automatic generation of carbon credits.

Avenue Supermarts: The company has issued commercial paper of Rs 100 crore.

Rushil Décor: The company has informed about fire accident at the factory located at Chikmagalur in Karnataka.

Jet Airways: Additional six aircraft [including one aircraft of Jet Lite (India) Limited] have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements.

V-Mart Retail: The company has opened a new store in Uttar Pradesh.