Index trend and stocks in action February 06, 2019

Nifty, after a modestly negative start to the session, inched back in the positive zone and traded in a narrow range and ended the session with modest uptick. The price action formed a small body bull candle with higher high-low. Going ahead, we would see Nifty making an attempt to break above the resistance level of 10,950, which has been resisting since some time. However, it would be important to see whether follow-up buying ensues, and if it fails to clear this resistance zone convincingly, we will see the market entering into consolidation phase again, where the level of 10,800 is likely to act as a strong support.  

Jubilant Foodworks: The company has issued clarification today regarding payment of corporate brand royalty. Jubilant Enpro Pvt. Ltd. (a promoter group company), has decided not to charge the corporate brand royalty of 0.25 per cent of the consolidated revenues of the company and the same stands withdrawn. 
  
HCL Technologies: HCL Technologies and Harris Geospatial Solutions Partner to deliver advanced analytics solutions for the utility industry. 
  
Adani Green Energy: Adani Renewable Energy (KA) Limited, a wholly-owned subsidiary of Adani Green Energy Limited (AGEL) has commissioned 12 MWac wind power project in Gujarat. Additionally, Mahoba Solar (UP) Private Limited, a wholly-owned subsidiary of AGEL has been awarded 390 MWac of capacity in hybrid renewable energy tender floated by SECI. 
  
Majesco: Majesco has launched new electronic billing and payments solution for the insurance industry. 
  
NBCC: NBCC (India) Limited has secured total business of Rs 355.90 crore in January 2019. 
  
PVR: Post the conduct of a feasibility study and necessary evaluation, the management of the company has decided not to proceed with the proposed transaction and has decided against deploying any capital in the MENA (Middle East and North Africa) region for the time being. The MoU with Al-Futtaim stands automatically terminated in accordance with the terms thereof.  
  
Century Plyboards: The board has approved setting up a particle board and MDF unit in Uttar Pradesh. 
  
Bharti Airtel: The company has clarified that the overall debt situation is already comfortable and the planned initiatives will further benefit. Also, the board of the company had recently formed a fund raising committee whose recommendations have been noted by the board and these shall be considered at its meeting convened on February 28, 2019.