Index trend and stocks in action October 01, 2018

The NSE benchmark Nifty extended its southward journey for the third straight session. The price action formed a negative candle with a lower shadow. The immediate low of 10,866 was breached on intra-day basis in the last trading session and Nifty marked a new low of 10,850. So, if we look at the chart, we can observe that in the last 6-7 trading sessions, the zone of 10,850-10,880 has been tested thrice and Nifty has witnessed a speedy recovery from this zone. Hence, going ahead, the zone of 10,850-10,880 will continue to act as a strong support zone for the index. However, a decisive breach of this support would result in a fall up to the level of 10,770, which is its 200-SMA. On the way up, immediate resistance is placed at the level of 11,040, which is 100-SMA, followed by 11,100.  

Zen Technologies: The company is executing the Indian security forces orders worth approx. Rs 160 crore and expects significant portion of the orders to be executed in third and fourth quarter of FY 2018-19. There may be a spill-over into the first quarter of FY 2019-20. The first despatches will start in October 2018. 
  
Puravankara: Puravankara's associate company, Keppel Puravankara Development Private Limited, will develop its first commercial development in India. 
  
Mahindra and Mahindra:  CRISIL reaffirmed its ratings to Mahindra & Mahindra's long term bank loan facilities of Rs 1,100 crore to AAA/Stable and short term facilities to A1+ 
  
Engineers India:  HPCL Rajasthan Refinery Limited (HRRL) has entrusted the project for execution of Rajasthan Refinery project to Engineers India. The total awarded order value is more than ~ Rs 5,000 crore. 
  
BPCL: The board of directors of BPCL has approved the proposal for setting up of facilities for production of polyols, propylene glycol and mono ethylene glycol at the Kochi refinery at an estimated investment of Rs 11,130 crore. 
  
Kalpataru Power Transmission:  The company has bagged orders worth Rs 1,145 crore. 
  
NMDC: The company has hiked the prices of lump ore by 8.45 per cent to Rs 3,850 per tonne and for fines by 6.4 per cent to Rs 3,310 per tonne. These price revisions took effect on September 26. 
  
Indian Hotel: The company has been successful in winning the bid for Hotel Taj Mansingh, New Delhi.  

Tata Power: Coastal Gujarat Power Limited (CGPL), a wholly-owned subsidiary of Tata Power, has completed refinancing of ECB loans . 
  
Bandhan Bank: RBI has communicated that since the bank was not able to bring down the shareholding of non-operative financial holding company (NOFHC) to 40 per cent as required under the licencing condition, the general permission to open new branches stands withdrawn and the bank can open branches with prior approval of RBI and the remuneration of the MD & CEO of the bank stands frozen at the existing level, till further notice.  
  
Yes Bank:  Yes Bank has assigned its exposure in Jaypee Cement Corporation Limited to Assets Care & Reconstruction Enterprise Ltd. 
  
Bharti Airtel: In a clarification note, the company said that  the company on its own or through its subsidiary companies keeps on evaluating various opportunities of fund raising (both equity and debt) as per its requirement in ordinary course of business.