Index trend and stocks in action December 24, 2018

The NSE benchmark Nifty witnessed a dramatic fall on Friday, as after opening lower, Nifty drifted lower throughout the day to end below the 10,800 mark with loss of 1.18 per cent. The price action formed a sizeable bearish candle. Nifty ended the day just below its 200-day moving average. Going ahead, a follow-through move below the Friday’s session low of 10,739 would open up for further correction up to the level of 10,660, which is 50 per cent retracement level of the recent upmove. On the upside, the level of 10,820 is likely to act as an immediate resistance, followed by 10,900.  

HFCL:  HFCL has been awarded overseas contracts worth Rs 148 crore by Larsen & Toubro to set up telecommunication systems for Mauritius Metro Express and Dhaka Metro mass rapid transit system projects. 
  
PVR: The board has approved issue of equity shares to qualified institutional placement for an aggregate amount not exceeding Rs 750 crore . 
  
Inox Leisure: The company has commenced commercial operations of a multiplex cinema theatre taken on lease basis in Kolkata. Inox is now present in 67 cities with 134 multiplexes, 546 screens and a total seating capacity of 1,31,310 seats across India. 
  
Petronet LNG: Petronet LNG has restructured its LNG pact with Qatar-based LNG supplier ‘RasGas’. The company had entered into a binding sale and purchase agreement with RasGas for supply of an additional 1 MMTP A of LNG for onward sale to lOCL, BPCL, GAIL and GSPC in December 2015. The company added that the contract has been restructured by having direct arrangement between the LNG supplier and the Indian entities with effect from January 1.  
  
Lumax Auto Technologies: The board has approved merger of its wholly-owned arm-Lumax DK Auto Industries with self. 
  
Gammon India: The Bombay High Court has disposed off a winding up order filed by SBI against the company.  The company petition is disposed off subject to the company paying the last installment due by March 29, 2019. 
  
ENIL: The board has approved the company’s foray into the US markets. The proposed thrust for expansion will involve incorporation of arms in the US to enter into time brokerage arrangements to broadcast radio programmes and content targeting the South Asian community. 
  
Fortis Healthcare: The market regulator has ordered Singh brothers and others to repay Rs 403 crore with interest.  
  
InterGlobe Aviation:  The company has signed a codeshare and mutual cooperation agreement with Turkish Airlines. 
  
Power Grid: Power Grid has acquired Jawaharpur Firozabad Transmission Limited (JFTL), the project SPV to establish transmission system for evacuation of power from 2x660 MW Jawaharpur thermal power project and construction of 400 kV substation at Firozabad along with associated transmission lines, on build, own, operate and maintain (BOOM) basis from REC Transmission Projects Company Limited. 
  
Unichem Laboratories: The company has received ANDA approval from the US FDA for Pramipexole Dihydrochloride tablets, which are indicated for the treatment of Parkinson's disease and for the treatment of moderate-to-severe primary restless legs syndrome (RLS).