Index trend and stocks in action September 27, 2018

The NSE benchmark index ended a highly volatile session with marginal loss. The price action formed a negative candle. As we approach Thursday’s trade, we enter the expiry of the September series and we also expect volatility to remain high during the day. Going ahead, on the upside, the zone of 11,160-11,180 is likely to provide resistance, while on the downside, immediate support is placed around Wednesday’s session low of 10,993 and failing to hold this support level may drag the index towards its recent swing low of 10,866 formed on Friday.  

HCL Technologies: The company has announced a five-year infrastructure services deal with global diversified mining business Anglo American. 
  
Torrent Power:  Torrent Power participated in the competitive bidding process (by way of e-reverse auction process) conducted by Solar Energy Corporation of India Ltd. (SECI) on September 25, 2018 for setting up of 1200 MW ISTS connected wind power projects. The company emerged as one of the winning bidders for capacity of 115 MW project. 
  
Hero Motocorp:  Hero MotoCorp will make an upward revision in prices of its products effective October 3, 2018. 
  
SBI:  SBI has received ECCB nod for divestment of 4 per cent stake in SBI General Insurance Company for total consideration of Rs 481.7 crore to Axis AIF & Premji Invest. 
  
IL&FS Transportation Networks: Aditya Birla Finance had filed an application for interim injunction under Section 9 of the Arbitration and Conciliation Act, 1996 in connection with its outstanding against two subsidiaries, namely, Chenani Nashri Tunnelway Limited and Pune Solapur Road Development Company Limited, of Rs 55 crore and Rs 100 crore, respectively, plus interest due thereon. 
  
5paisa Capital: The Central Depository Services (India) Limited has taken on record the revised limits of foreign investment in the company by foreign portfolio investors upto 100 per cent and non-resident Indians (NRIs) upto 24 per cent of the paid-up capital of the company. 
  
NBCC: NBCC (India) has received in principle approval from Air India to monetise/redevelopment of Air India land parcel at Baba Kharag Singh Marg, Connaught Place and Vasant Vihar in the national capital.