Index trend and stocks in action February 26, 2019

The benchmark Nifty went from strength to strength and extended its winning streak for the fourth day in a row. Nifty surged 0.82 per cent to 10,880. The price action formed a sizable bull candle with higher high-low. The upmove of Monday’s session has yet again taken the Nifty above all its key moving average i.e. 20, 50, 100 and 200 day moving average.  In the coming session, we expect the bulls to continue with its upward momentum, however on the upside, the zone of 10,945-10,965 is likely to act as a crucial resistance level for the index.  While, on the downside, it’s important for the index to stay above 10,800 mark.  

Bharti Airtel: Airtel and Ciena to Build One of the World's Largest Photonic Control Plane Networks for delivering Ultra-fast Data over 4G, 5G and FTTH. 

Wipro: Wipro announced it has been recognized as the winner of the 'Quality Global Supplier' award by innogy SE, a leading European energy company.

Thermax: Company has entered into definitive agreement with Mutares Holding-24 AG, Germany and Balcke-Duerr GmbH, Germany, JV partners of Thermax SPX Energy Technologies Limited (TSPX) to acquire their shareholding in the TSPX a JV and subsidiary company in India. Post transfer of shares TSPX will become the wholly owned subsidiary of the company.

Tejas Networks: Tejas Networks launches World's First Ultra-Converged Broadband Product at Mobile World Congress, Barcelona. 

Sharda Motor Industries: The Company has entered into the Joint Venture (JV) Agreement with Eberspaecher Exhaust Technology International GmbH (EET) for Business Development of BS VI Norms in Commercial Vehicle segment in India also. This Joint Venture is expected to bring benefits to both the JV Partners i.e. SMIL & EET.

Bliss GVS Pharma: The Board approved the increase of Foreign Portfolio Investors/Foreign Institutional Investors limits from 24 per cent to 74 per cent in the Company.

Bharat Forge: Bharat Forge clarified that it has signed a Memorandum of Understanding (MoU) with Bharat Electronics (BEL) on February 21, 2019 at Aero India Show, 2019, Bengaluru. 

Lupin: Lupin receives FDA approval for Methylprednisolone Tablets USP.