Index trend and stocks in action September 21, 2018

After a positive opening, the NSE benchmark Nifty traded in a range-bound manner in the first half of the session. Then, in the latter half of the sessions, bears took the charge and, as a result, the index slipped below its recent swing low of 11,250. The price action formed a sizeable bear candle carrying lower high-low sequence, indicating continuance of corrective bias. On Thursday, markets remained closed on account of Muharram holiday and on Friday we may see index trying to catch up with global cues. Going ahead, the level of 11,200 is likely to act as an immediate support for the Nifty, followed by the important support placed in the region of 11,170-11,160, whereas on the upside, the levels of 11,280, followed by 11,310, are likely to act as near term hurdles for the index.  

Yes Bank: The  Reserve Bank of India has intimated that Rana Kapoor may continue as the MD&CEO till 31 January 2019, and the board of directors of the bank is scheduled to meet on September 25, 2018 to decide on the future course of action. 
  
Clariant Chemicals: The company's global holding company Clariant will divest the plastics and coatings business by 2020. The plastics and coatings business intended to be divested includes the pigments and standard masterbatches businesses. 

ICICI Bank: The committee of executive directors constituted by the board of the bank is scheduled to have a meeting on September 24 to consider offshore fund raising in single/multiple tranches in any currency through public/private placement by way of issuances of debt instruments, certificate of deposits etc. for the remaining period of financial year 2018-19. 
  
Strides Pharma Science:  The Australian Competition and Consumer Commission (ACCC) announced that it ‘has decided not to oppose the merger of generic pharmaceutical companies Arrow and Apotex, after finding the transaction would not substantially lessen competition in any market. 
  
Graphite India: The company has clarified to the news report appearing in a section of the media that its emissions are well within the prescribed norms and it is a law abiding entity. 

NBCC:  NBCC has secured total business of Rs. 921.67 crores in the month of August, 2018  . 
  
Manali Petrochemicals: The company has started the supply of Notedome products from September  19. 
  
Gravita: The  company has expanded the capacity of its existing plant located at Chittoor, Andhra Pradesh by installing new washing line and PPCP granules extrusion lines which is having annual capacity or 4,800 MTPA. The production from this plant will cater to the needs of PP/HDPE moulding and fibre Industries globally. 

ITC:   The company has taken possession of the property known as Park Hyatt Goa Resort & Spa located at Goa. 
  
Max India: Life Healthcare Group Holdings, South Africa, equal JV Partner in Max Healthcare Institute, has decided to sell its entire 49.70 per cent equity stake held in Max Healthcare to Kohlberg Kravis Roberts & Co. LP, which may complete the transaction through its portfolio company, Radiant Life Care Private Limited. 
  
Dilip Buildcon: The company has been  declared L-1 bidder for metro rail project for Rs 228.96 crore by Madhya Pradesh Metro Rail Co .