Index trend and stocks in action January 11, 2019
The NSE benchmark Nifty started the day on a cautious note and traded sideways with negative bias for a major part of the trading session. However, some volatility was witnessed in the last leg of trading and Nifty ultimately ended the day in the red, breaking a four-day winning streak. The price action formed a small bear candle, which traded within the high and low range of the previous bar. Going ahead, the 100-day moving average, which is currently placed at 10,862, is likely to act as an immediate resistance level, followed by 10,920. On the downside, immediate support is placed around the level of 10,800, followed by 10,710.
Praj Industries: Praj Industries has expanded its bio-energy basket by adding Compressed Bio-Gas (CBG) technology on track with execution of first batch of 2G bio refineries.
NBCC: NBCC has secured total business of Rs 187.90 crore in the month of December 2018 .
Shakti Pump: There is dispute between the labour contractor and some workers appointed under the labour contract. The management of the company has decided to declare holiday for two days, i.e. January 9 and 10, in the production department of the company for the appointment of new labour contractor.
Reliance Industries: The company is planning to shut down one of the crude distillation units and coker unit of its DTA refinery at Jamnagar for routine maintenance and inspection activities for about 4 weeks starting January 16, 2019.
KNR Constructions: The company's subsidiary has received the financial closure letter from the National Highways Authority of India.
Lemon Tree Hotels: The company has signed a licence agreement for a 50-room resort property located at Dindi, East Godavari dist., Andhra Pradesh, under the company's brand 'Lemon Tree Premier'. The hotel is expected to be operational by March 2021.
Container Corporation of India (CONCOR): As a part of the overall strategy of expansion and entry into new areas of business to complement CONCOR's position as a multimodal logistics service provider, CONCOR has commenced coastal operations from January 10, 2019.