Index trend and stocks in action April 19, 2018

NSE benchmark Nifty made a positive start and later shifted into a range-bound action for the first half of trading session. However, in the second half of the session, the index took a volatile turn and snapped its 9-day winning streak. The price action formed a bear candle. Going ahead, the level of 10,480 would be seen as a crucial support and only a sustainable move below this level would lead to further correction up to the level of 10,410, whereas on the upside, immediate resistance is seen in the zone of 10,600-10,640. The 14-daily RSI stands at 61.72, and as long as it remains above the level of 60, it would be positive for the index.  

Lemon Tree Hotels: The Company's wholly owned subsidiary Carnation Hotels Private Limited has executed three Hotel Operating Agreements for operating and managing the three(3) properties each in Rishikesh, Neelkanth and Mussoorie. 

Jain Irrigation: The Board of Directors approved to raise in the form of 7 years ECB INR Loan an amount upto Rs. 2,600 million from International Finance Corporation, (an arm of World Bank Group) Washington (“IFC”) on mutually agreed terms and conditions.

Infibeam Corporation: the Company has been awarded the contract for providing Online Marketplace for Skilling Resources from National Skill Development Corporation ("NSDC").

Dynamatic Technologies: The Company has signed a Memorandum of Understanding with Daher Aerospace, world renowned Aerospace company from France. The MOU facilitates exploring possibilities of partnering together to add potential value in the global aerospace realm through collaborated efforts.

NMDC: NMDC cut prices of lump ore and fines by Rs 100 each to Rs 2,900 per tonne and Rs 2,560 per tonne with effect from April 18.

Mercator: Mercator said that coal mining operations in Indonesia have since attained near optimum levels. Further, revenue from third party logistics operations and coal handing has also stabilized. 

Sun Pharmaceuticals: Sun Pharmaceuticals unit hiked stake in Ranbaxy Malaysia by 4.93%.

Container Corporation: Container Corporation to consider stock split on April 30.

Magma Fincorp: Magma Fincorp raised Rs 500 crore at a price of Rs 155 per share through a QIP.

ABG Shipyard: ABG Shipyard IRP invited fresh bids for the company.