Index trend and stocks in action June 29, 2018

Bears continued to be in the driver’s seat on D-street amid firm crude oil prices and the rupee hitting a record of over 69 to the US dollar. The NSE benchmark Nifty concluded June series expiry below the 10,600 mark with a loss of 0.77%. The price action formed a sizeable bear candle carrying a lower high-lower low formation, indicating extended profit-booking. As we step into the last trading session of the quarter, we are likely to see a flat to positive start. The level of 10,530 is going to be a crucial support level as it is 100-DMA, followed by 10,490. On the way up, the levels of 10,635, followed by 10,660, are likely to act as stiff barriers.   

Camlin Fine Sciences: The company plans to raise funds upto USD 15 million through issuance of foreign currency convertible bonds (FCCBs) to International Finance Corporation. 

JSW Energy: The company has extension the Long Stop Date to June 30, 2019 for acquisition of the 1000 MW (4X250 MW) thermal power plant located at village Tamnar, district Raigarh, Chhattisgarh from Jindal Steel and Power. 

Fortis Healthcare: The company has extended the deadline for submission of binding bids to July 3. 

Bank Overseas:  The company has entered into an MOU with the buyer for sale of land. 

Kalpataru Power Transmission: Kalpataru Power Transmission has bagged new orders worth Rs 1,235 crore . 

Wipro: The divestment of Wipro Data Centre and Cloud Services, Inc., and data centre business in Germany and UK have been completed on June 27, 2018, for a consideration of USD 399 million. The impact of this divestment is expected to reflect in the financials of the company for the quarter ending June 30, 2018. 

Clariant Chemicals: The company has permanently closed the manufacturing unit situated at Nandesari, Vadodara w.e.f. June 28, 2018. 

Adani Ports: The company has completed acquisition of Kattupalli port in southern India's new EXIM gateway from L&T . 

Zee Media:  Zee Media board has approved to sell its entire stake in subsidiary company Ez-Mall Online for Rs 8.60 crore . 

Bharat Financial: The company has completed the first securitisation transaction of Rs 550.07 crore in FY19. 

RBL Bank: The bank has acquired remaining stake in Swadhaar FinServe Private (Swadhaar) and thereby increased its shareholding in Swadhaar to 100 per cent. Accordingly, Swadhaar has now become a wholly-owned subsidiary of the bank.