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United Bank spikes on receiving capital infusion United Bank spikes on receiving capital infusion

United Bank spikes on receiving capital infusion

DSIJ Intelligence 0 2308 Article rating: 5.0
Central Government, in a letter dated December 26, 2018, has informed of its decision to invest Rs. 2,159 crore in the equity capital of the bank by preferential allotment. The lender is one of the 11 public sector banks that are under the prompt corrective action (PCA) framework of the Reserve Bank of India following deterioration in its financial health.
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Index trend and Stocks in action December 28, 2018 Index trend and Stocks in action December 28, 2018

Index trend and Stocks in action December 28, 2018

Vinayak Gangule 0 808 Article rating: 4.8

Going ahead, we expect Nifty to continue its upside momentum; however, the level of 10,882 is likely to act as an immediate resistance.A breach of this resistance will allow the index to scale towards the zone of 10,920-10,950. On the flip side, the gap area which was formed on December  27 (10747.50-10764.45) is likely to act as support for the index. 
Stocks in news: Tata Steel Ltd, Rane (Madras) Ltd, Lemon Tree, Tata Power, Selan Exploration Technology, Kansai Nerolac Paints, Suven Life Sciences.

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