Index trend and stocks in action February 21, 2019
The Nifty ended its 8-day losing streak to end the session with a gain of over 1 per cent at 10,735. The index witnessed a gap-up opening, but it continued to resist at the 100-day moving average. However, in the last leg of trading, the bulls managed to pierce through he resistance and Nifty closed comfortably above the 10,700 mark. The price action formed a sizeable bull candle. In the coming session, the level of 10,800 is likely to act as a resistance and sustaining above this level would fuel further optimism and Nifty may test its 200-day moving average. On the downside, the level 10,680 is likely to act as an immediate resistance as the 100-day moving average is placed at this level.
Shriram Transport Finance: Shriram Transport Finance has raised USD 400 million from the international bond markets.
Dr Reddy’s Laboratories: Dr. Reddy's Laboratories has announced the relaunch of its buprenorphine and naloxone sublingual film after favourable ruling in patent litigation.
Grasim Industries: The company has completed acquisition of the chlor-alkali business of KPR Industries.
BPCL: The company is planning to raise up to Rs 2,000 crore during the current financial year through private placement of unsecured non-convertible debentures, subject to market conditions.
REC: REC Limited has announced a consent solicitation exercise in relation to certain senior US$ notes.
Jubilant Life Sciences: The company has issued commercial papers (CPs) of Rs. 75 crore .
Tata Steel: Moody’s Investors Service has upgraded Tata Steel Limited’s corporate family rating (CFR) by one notch to Ba2 from Ba3.
Yes Bank: Moody’s affirms Yes Bank’s ratings; Outlook changed to ‘stable’ from ‘negative.