Index trend and stocks in action May 14, 2018
The bulls were in the driver’s seat in the last trading session of the week. The NSE benchmark ended the session above the important psychological level of 10,800 for the first time since February 2018. The price action formed a sizeable bull candle carrying higher high/low, resulting in acceleration of uptrend. Going ahead, we expect the market to inch higher towards the level of 10,910, which is 78.6 per cent retracement level of the previous fall. On the way down, immediate support is placed around the level of 10,780, followed by 10,740. In the coming week, the results of election in Karnataka will be unfolded, which is likely to affect the market and infuse some volatility.
Dena Bank: The RBI has put a bar on fresh lending by Dena Bank.
JSW Steel: Approval of the Competition Commission of India given to the proposed combination with regard to the resolution plan in respect of the corporate insolvency resolution process of Monnet Ispat and Energy Limited.
Ashoka Buildcon: Ashoka Buildcon unit executes concession agreement with NHAI for an Rs 1,687 crore project.
JBM Auto: The Company had entered into the shareholder's Agreement with M/s Jay Bharat Maruti Limited and M/s Ogihara (Thailand) Company.
The New India Assurance Company: The Board of Directors of the Company recommended issue of bonus shares in proportion of 1:1
Aarti Industries: Aarti Industries board approves demerger of home and personal care segment and merger of manufacturing operations of Nascent Chemicals with the company.
Allahabad Bank: The Board of Directors of the Bank approved the Raising of Equity Capital of the Bank aggregating upto Rs 1900 crore (including premium) through various modes.
Sical Logistics: The Board of Directors in-principle approved the proposal to purchase the 11 per cent stake held by L&T Infrastructure Development Projects Limited in Sical Iron Ore Terminals Limited [the company’s subsidiary] subject to regulatory approvals.
5paisa capital: 5Paisa capital approves raising of FPI investment limit to 100 per cent and NRI investment limit to 24 per cent.