Index trend and stocks in action September 14, 2018

After witnessing sharp sell-off over the last two sessions, the NSE benchmark Nifty ended the session near the day’s high of 11,370, up by 0.73 per cent. The price action formed a bullish hammer-like candle pattern near its 50-day SMA. Going ahead, Wednesday’s session low of 11,250 is likely to act as a strong support for the index and a follow through move below the level of 11,250 may take the index towards the level of 11,170 in the near term. On the upside, the level of 11,400 is likely to play out as immediate resistance level, followed by 11,450. The bias for the coming sessions would stay sideways to negative, unless the Nifty sustains above the level of 11,450.  

Sun Pharmaceutical: Sun Pharma and SPARC have announced US FDA approval of Xelpros to treat open-angle glaucoma or ocular hypertension. 
  
Vedanta: Vedanta has announced hydrocarbon discovery in well A3-2 within its operated block KG-OSN-2009/3 within Krishna-Godavari Basin on the east coast of India. The company holds 100 per cent participating interest in the block . 
  
Engineers India: The board has considered the proposal for acquisition of 100 per cent paid-up share capital of Projects and Development India (PDIL) from President of India, acting through the Ministry of Chemicals & Fertilizers. 
  
Maruti Suzuki:  With a core focus to enhance customer experience, Maruti Suzuki India has increased production of its blockbuster model Baleno. This will help reduce the waiting period for Baleno. 
  
Cadila Healthcare:  Zydus has received final approval from the USFDA for risedronate sodium delayed-release tablet s. 
  
Wipro: Wipro and Anaplan Partner will deliver cloud enterprise  performance management solutions.  
  
Jain Irrigation: The company's US arm has acquired irrigation technology company ‘ETwater’. The company said that its position in the US smart agriculture market will be fortified and its operations will scale up, post this acquisition. 
  
Lupin: Lupin has received FDA approval for generic atovaquone oral aolution USP. 
  
SBI: The audit committee of the board has appointed Prashant Kumar, deputy MD, as the chief financial officer of the bank with immediate effect. 
  
Voltas: Voltas Beko has launched its new range of home appliances in India. 

HCL Technologies: HCL SSHS (State Street HCL Services) facility, a joint venture between HCL Technologies and US-based State Street Corporation, announced the opening of its state-of-the-art IT Centre at Medha Tech Park in Ganavaram, Vijayawada. 
  
NBCC: NBCC  will acquire 100 per cent stake in HSCC for Rs 285 crore from the Government of India.