Index trend and stocks in action June 26, 2018
The Monday’s session witnessed NSE benchmark Nifty trading on a downward path and sliding deeply in the expiring hour of the day and finishing the day at 10,762 with a fall of 59 points. The price movement created a bear candle. On Tuesday, there are chances that Nifty will try to stabilise near its critical moving average support, i.e. 50-DMA. But there are higher chances of seeing lot of vulnerability persisting at the opening bell as hints from the global markets are negative. The levels of 10,700, followed by 10,680, are expected to act as support levels for the Nifty, while on the upside, it is important for the index to push past the vital overhead resistance level of 10,840-10,850, a decisive move above this zone could lead to a further upmove in the market
Piramal Enterprises: Piramal Enterprises plans to sell its arm Piramal Imaging to Alliance Medical Acquisitionco.
Fortis Healthcare: In view of the ongoing discussions on the annual accounts which requires further deliberation, the company’s board of directors has decided to adjourn the meeting and reconvene it on June 26, 2018.
Zuari Agro Chemcials: The company’s board has given its nod to raise funds up to Rs 500 crore.
United Spirits: The company has acquired 26 per cent stake Hip Bar for Rs 270 million.
Jet Airways: The company has entered into another agreement with The Boeing Company for purchase of an additional 75 Boeing 737 MAX aircrafts.
NHPC: A Power Purchase Agreement (PPA) in respect of Kishanganga HE Project (3X110MW) has been signed with U.P. Power Corporation (UPPCL).
NOCIL: The company has commissioned Phase–1 of expansion of its capacity of rubber chemicals and their intermediates at its plant situated in Navi Mumbai after a successful trial run of about 3 weeks.
OIL India: The company has made hydrocarbon discovery in KG Basin, Andhra Pradesh.
Info Edge: Info Edge and Soft Bank arm to jointly invest $45 million each for 8.93 per cent stake in Etechaces.
Ratnamani Metals and Tubes: The company has received a domestic order for supply of welded carbon steel pipes valued at Rs 125.51 crore which will be completed by March/April, 2019.