Index trend and stocks in action October 11, 2018

The NSE benchmark Nifty opened the session on a positive note,and as the day progressed, the momentum got strong and Nifty settled the session near the day’s high. The price action formed a sizeable bullish candle carrying higher high and higher low. Nifty managed to close above its last two sessions' identical high of 10,398. Looking at the global scenario, we are looking at a big gap-down opening in the index, and in that case, the recent swing low of 10,198 would be a crucial level to watch out for the index and failing to hold this level would result in further sell-off as the index may test level of 10,100 followed by 10,040.  
  
PTC India: PTC has signed fresh agreements for supply of 200 MW power to Bangladesh for 15 years . 
  
Dilip Buildcon: Dilip Buildcon has been declared L-1 bidder for a new OB removal contract mining project valued at Rs 1000.40 crore by the Mahanadi Coalfield Limited, a subsidiary of Coal India Limited, Samleshwari OCP, Jharsuguda district in Odisha. 
  
Oil India: Oil India has made two hydrocarbon discoveries in Assam in the second quarter of this financial year. 
  
ITI: ITI has received purchase order for executing the RajNet project from RajCOMP Info Services Ltd, a Government of Rajasthan undertaking, for establishing approximately 40,000 outdoor Wi-Fi access points in Rajasthan with an order value of approximately Rs 334 crore on rate contract basis. 
  
Soril Infra Resources: The committee has decided to recommend to the board the proposal for amalgamation of ongoing business operations and undertaking of Indiabulls Pharmaceuticals (IB Pharma) along with certain non-financial business undertakings of its holding company Indiabulls Integrated Services Ltd, subject to all applicable approvals.  
  
GE Power India: The management is exploring and evaluating various options to dispose off the land and building, including machinery and equipment related to Vadodara and Shahabad factories. 
  
Indiabulls Integrated Services: Indiabulls Integrated Services reorganisation committee has recommended the board for demerger of the company’s non-financial business segment to SORIL Infra Resources.