Index trend and stocks in action March 14, 2019

After opening the session with modest gains, Nifty oscillated back and forth within a capped ranged. However, an upsurge in the last leg of trading helped the index to keep its head above the positive territory and end the day with a gain of 0.36 per cent at 11,342. The price action formed a small body candle with slightly longer shadow which resembles a 'hanging man' pattern. In the coming session, the level of 11,384 is likely to act as a resistance as it is 78.6 per cent retracement of its August-October decline. On the downside, the Tuesday’s gap area (11,1180-11,227) is likely to lend support to the index.

HCL Technologies: HCL Technologies will acquire Strong-Bridge Envision to enhance digital transformation consulting capabilities in the HCL portfolio.

Jet Airways: An additional five aircrafts have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements.

Deep Industries: The company has received two orders from ONGC in the rigs segment valued at Rs 183.50 crore approx.

Sun Pharmaceuticals: The company has increased its shareholding in PJSC Biosintez, Russia to 96.96 per cent from 85.10 per cent earlier.

Lupin: USFDA has classified the inspection at the company's Mandideep (Unit 1) facility as 'Official Action Indicated'.

Bajaj Consumer Care: Bajaj Consumer Care has engaged the services of Bain & Company ('Bain').  Bain will help the company in formulating a front-end strategy for growth and also help in implementing it.

GE T&D India: GE T&D India Limited will modernize Rajasthan's transmission grid with first-of-its-kind advanced grid management project in India.