Index trend and stocks in action August 19, 2019
The Nifty ended Friday’s session with modest gains. After opening the session in the negative terrain, Nifty clawed back into positive terrain and finally settled at 11,048, up by 0.17 per cent. The price action formed an inside bar as the price traded within the high and low range of the prior session. The bar also resembles a Dragonfly Doji pattern. To continue the bullish strength, Nifty needs to move above the 200-DMA as well as August 9 high of 11182 decisively. As long as it trades between 11182-10935, traders may not get clear trading opportunities. Wait till these levels break for a clear trading opportunity. In case Nifty closes below the August 14 low of 10935, it would mean a flag breakdown.
Tech Mahindra: The company has divested 73.38 per cent equity investment held in FixStream Networks Inc., USA, a subsidiary company.
Mahindra & Mahindra: The company has expanded its global footprint with the inauguration of its local automotive assembly plant at Welipenna, near Colombo, Sri Lanka. Christened Mahindra Ideal Lanka Pvt. Ltd. this assembly plant is in collaboration with Ideal Motors of Sri Lanka.
Cupid: The company has announced that it has received an order worth Rs 14.1 crore from UNFPA to supply male condoms to Uganda.
Titan: The company has increased its stake in Caratlane by 2.8 per cent and, as a result, the shareholding of the company in Caratlane has increased from 69.5 per cent to 72.3 per cent.
Sun Pharmaceutical: The company has announced that one of its wholly-owned subsidiaries has granted an exclusive licence to a subsidiary of China Medical System Holdings Ltd to develop and commercialise seven generic products in Mainland China.
Ujjivan Financial Services: Ujjivan Small Finance Bank, a subsidiary of the company, has filed DRHP with the SEBI for its proposed IPO. The company seeks to raise Rs 1200 crore and the issue includes a reservation of equity shares aggregating up to Rs 120 crore for subscription by eligible investors, including reservation of equity shares of up to Rs 120 crore by UFSL shareholders.
Info Edge: The company has entered into an agreement to invest, through its wholly-owned subsidiary, about Rs 47 crore in Shop Kirana E-Trading Private Ltd.
Kridhan Infra: The company has announced that its associate company Vijay Nirman Company Private Limited has secured orders worth Rs 145 crore for construction of passenger terminal building, ATC tower and other buildings and miscellaneous works of Goa International Airport and miscellaneous construction works at Hyderabad International Airport.
TVS Motor: TVS Motor (Singapore) Pte. Limited, a wholly-owned subsidiary of TVS Motor Company Limited, India, has signed definitive agreements to invest US$ 3.2 million in Predictronics Corporation, a US corporation, headquartered in Cincinnati, Ohio, which specialises in providing end-to-end predictive maintenance analytics solutions.