Index trend and stocks in action August 28, 2018

It turned out to be a marvelous Monday for the NSE benchmark NSE as it touched the 11,700 mark for the first time ever and closed the session higher by 1.17 per cent at 11,692. The price action formed a bullish strong line candlestick pattern. On Tuesday, we expect buying momentum to continue. However, the levels of 11,760, followed by 11,800, are likely to act as a resistances. On the way down, the level of 11,620 is likely to act as a support level.  

Karnataka Bank: Karnataka Bank has tied up with Bank Bazaar for digital home loan sourcing. 
  
Tata Power: Coastal Gujarat Power Limited (CGPL), a wholly-owned subsidiary of the company, has successfully issued and allotted guaranteed, unsecured, non-cumulative, redeemable, taxable, listed, rated, non-convertible debentures (NCDs) for an amount of  Rs. 2,700 crore on private placement basis issued in two series. 
  
Punj Lloyd:  Jyoti Punj has resigned as non-executive independent director and Shiv Punj as executive director of the company with immediate effect. 
  
GAIL:  Minister of PNG has launched online portal for common carrier capacity booking on GAIL’s pipelines. 
  
JBF Industries: The c ompany and KKR Jupiter Advisors (KKR) have entered into a binding understanding, wherein KKR has agreed to buy out a 100 per cent stake in company's subsidiary JBF Petrochemicals. 
  
Oriental Bank of Commerce: The meeting of the board of directors of the company is scheduled on August 30 to consider the raising of capital from the market through QIP for an amount not exceeding Rs. 1,000.00 crore. 
  
Colgate Palmolive: The board has appointed Mukul Deoras as the chairman of the company with effect from Sept. 1. He will also serve as the President, Asia-Pacific Division of Colgate Palmolive. 
  
Jet Airways: The company  board has considered various cost cutting measures, debt reduction and funding options, including infusion of capital, monetisation of assets, including the company’s stake in its loyalty programme.