Index trend and stocks in action September 17, 2018

The NSE benchmark Nifty ended Friday's session with strong gains as a slew of encouraging macro numbers brought cheer to the investors. The price action formed a sizeable bull candle. Going ahead, the level of 11,565-11,570 is likely to act as an immediate resistance level. This zone would be a crucial level to watch out on the upside and a follow through move above this level would lead to further upside up to the level of 11,620-11,640. On the downside, opening upside gap area (11,381-11,431) which was formed September 14 is likely to act as a key support zone from the near term perspective.  

RCF:  RCF has clarified on the news that the company has put a proposal to the Department of Fertilizers, Government of India, for post–facto cabinet approval for transfer of the land  and also TDR certificates already received and likely to be received in future. 
  
Sterlite Technologies:  The company will be making an addition of 15 million fibre km to its optical fibre cabling capacity, doubling it to 33 million fibre km. The enhanced capacity is expected to come on-line by June 2020 in a phased manner. 
  
Reliance Industries:  Reliance Retail Ventures Limited (RRVL), a subsidiary of the company, has purchased an additional stake of 3.10 per cent equity holding in Genesis Colors Limited (GCL) for a consideration of Rs. 8.39 crore, taking its total stake in GCL to 19.63 per cent. Accordingly, the aggregate equity shareholding of RRVL and RBL in GCL stands at 69.10 per cent. 
  
Infosys: Infosys will acquire Fluido, the largest sales force consulting partner in Nordics. 
  
Wipro: Wipro’s  arm has signed an agreement with Mercury Network to jointly offer loan appraisal management platform. As a part of the agreement, Mercury Network’s appraisal order management system will be integrated with company’s NetOxygen Loan Origination System platform. 
  
MEP Infrastructure Developers: The toll tax department has extended the period of suspension of collection of toll tax from any of the specified commercial vehicle till September 30, 2018, owing to pending of completion of installation of Radio Frequency Identification Device (RFID) work. The settlement of claims, if any, will be dealt as per the provisions of the contract agreement executed with the authority. 
  
Gammon India: The court of Monza, Italy, has declared the bankruptcy of the company's step down subsidiary 'SAE Powerlines s.r.l' (which is held through ATSL Holdings BV).  
  
Future Supply Chain Solutions:  Voltas JV Voltbek has partnered with Future Supply Chain.