Index trend and stocks in action August 23, 2018

The NSE benchmark Nifty moved in a capped range and ended the session with marginal gain of 0.17 per cent at 11,571. The price action formed a Doji-like candle pattern. On Thursday, we expect the index to witness a stable opening and see some consolidation. On the upside, the levels of 11,600, followed by 11,640, are likely to act as immediate hurdles for the index. On the way down, the opening upside gap area, which is placed in the region of 11,486-11,500, is likely to lend support to the index. Also, the 5-day EMA is placed around the level of 11,500.  

Lupin:  Lupin has received tentative FDA approval for generic Nudovra tablets 
  
Ultratech Cement:  Ultratech Cement has received Competition Commission of India’s approval for the acquisition of cement business of Century Textiles and Industries Ltd. The company says that copy of the CCI order is awaited. 
  
DHFL:  The company proposes to issue secured redeemable non-convertible debentures amounting to Rs 500 crore plus a greenshoe option of upto Rs 500 crore on a private placement basis . 
  
Granules:  The US Food & Drug Administration (US FDA) has approved the Abbreviated New Drug Application (ANDA) filed by Granules for Ranitidine tablets USP, 150 mg and 150 mg Cool Mint (OTC).  
    
HDFC:  HDFC  has entered into an agreement for acquiring about 30.5 lakh shares, representing 25.01 per cent share capital of Good Host Spaces Private Limited, from Manipal Integrated Services Private Ltd.  
  
Nestle:  Nestle India has partnered with Flipkart to launch Maggi Special Masala noodles. 
    
ITI:  ITI has received a letter of intent from Maharashtra state government for execution of project of the value of Rs 2,658 crore for two packages. 
  
Jet Airways: The audit committee and the board of directors at their meeting scheduled to be held on Monday, 27 August 2018, while considering the unaudited financial results for the quarter ended 30 June 2018 will, inter-alia, take up the matters in relation to the cost reduction initiatives and turnaround plan, for which the management had earlier sought time. 

BPCL: BPCL has clarified that  only the hydrocracker unit has been shut down and the period of shutdown is currently being assessed. All other units are operating normally. 
  
Navneet Education: The company's board has approved buyback up to 46.8 lakh fully paid-up equity shares of the company at Rs 160 per share.