Dish TV had recently made an announcement about CARE Ratings, downgrading the company’s short-term bank facilities rating to ‘CARE D’ from ‘CARE A4+’. After the company mentioned that the default in debt repayment was due to temporary cash shortfall, which is because of peak payment commitments to suppliers, the stock jumped by 13.85 per cent.

The company’s consolidated cement production for the last month stood at 244,291 MT, reporting a decline of 23.13 per cent compared to 317,796 MT produced in November 2018.

Maharashtra Seamless gained nearly 4 per cent today, as the company announced that it has bagged an order from ONGC. It has secured this order, amounting to Rs. 500 crores, of supplying seamless casings to ONGC.

The zone of 11,700-11,800 is crucial for the index, as 50-DMA is placed in this region and the change of polarity concept comes into play around this zone as well. Meanwhile, the level of 11,980-12,040 would continue to act as a stiff resistance zone on the upside. Stocks in news: IRB Infrastructure Developers, Maruti Suzuki India, KNR Constructions, Welspun Corp, NBCC, Zensar Technologies.

Good morning and welcome to a new week! On Friday, the markets across the US and Europe saw a blistering rally on the back of strong US jobs data rally. However, the strong rally in the western world is less likely to inspire the bulls on the D-Street, as Asian peers are signaling mixed sentiments on Monday morning.

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Considering the weekly scale, the index has formed the Dark Cloud Cover candlestick pattern. With this bearish formation, the index has managed to close below its crucial short term moving average, that is, 13-day EMA after a span of almost 36 trading sessions.

Considering the daily timeframe, the stock of ICICI Lombard General Insurance Company Limited is trading in the Ascending Triangle pattern since the last 32 trading sessions.

The stock of State Bank of India (SBI) formed a Bearish Engulfing candlestick pattern on the weekly timeframe. The Bearish Engulfing Candlestick pattern is considered to be a bearish reversal pattern and usually occurs at the top of an uptrend.

On Friday, the company released a press note, which said that it has secured an order from the Power Grid Corporation for 765kV GIS substation under Tariff Based Competitive Bidding (TBCB) route in Western India.