Index trend and stocks in action June 20, 2018

The NSE benchmark Nifty extended its fall for the second straight session on the back of sell-off seen in the global indices. The price action formed a long bear candle carrying lower high and lower low. Going ahead, there is cluster of support in the zone of 10,650-10,700, first, the 21-day SMA is placed in this region, and second, the 61.8 per cent retracement level of recent upmove stands at 10,682 and the level of 10,650 is important support as defined by the trend line connecting the low of March 2018. On the upside, the level of 10,750 would act as an immediate resistance level, followed by 10,780. 

Kansai Nerolac: The company will acquire 55 per cent stake in RAK Paints Ltd, Bangladesh, for approximately Rs 45.81 crore. 

DCM Shriram:  DCM Shriram plans to buy back 55.55 lakh equity shares at Rs 450 each . 

MPS: MPS has invested in the right issue of MPS Interactive Systems and has allotted equity and preference shares at par aggregating to Rs 43.99 crore. Post the allotment of shares, MPS Interactive Systems has now become a wholly-owned material subsidiary of MPS. 

Oberoi Realty: The company has raised Rs 1,200 crore by issue of shares through Qualified Institutional Placement (QIP). 

Cipla: : Cipla has announced that it has received final approval for its Abbreviated New Drug Application (ANDA) for Efavirenz tablets 600mg from the United States Food and Drug Administration (US FDA). 

Infosys:  Infosys has expanded its footprint in France by establishing state-of-the-art Digital Center of Excellence in Marseille. 

Wheels: The board of directors of the company may consider issue of bonus shares in the board meeting scheduled to be held on June 22.