INDIAN EQUITY MARKET OUTLOOK - 20 Feb 2018
Nifty opened the session with mild gains and no surprises, but soon after opening, Nifty slipped into the negative terrain, and as the session progressed, it extended its losses as selling pressure was seen across the board. But in the last hour of trade, buying emerged around 10,300-mark and Nifty concluded the session with a loss of 0.71%. The price action formed a bearish candle with a lower shadow, which indicates emergence of buying at lower levels. For the first time in recent months, Nifty has closed below its 100-day EMA. Going ahead, further downside is likely once the support level of 10,300 is breached, in which case, expect Nifty to test 10,270, followed 10,200. Meanwhile, any bounce towards the level of 10,450-10,500 is likely to see a sell-off.
Indian Grid Trust: IndiGrid has completed the acquisition of three assets - RAPP Transmission Company Limited, Purulia and Kharagpur Transmission Company Limited and Maheshwaram Transmission Limited (together 'MRP') from its Sponsor - Sterlite Power Grid Ventures Limited. It has simultaneously signed definitive agreements with Techno Electric & Engineering Company Limited to invest in Patran Transmission Company Limited (PTCL).
Prime Focus: Has been honoured at the BAFTA Awards 2018 for its work on Blade Runner 2049. The film picked up the award for Best Special Visual Effects.
Mahindra and Mahindra: Mahindra to make an additional investment of over Rs. 500 crore for Electric Vehicles and Electric Vehicle Components in Chakan as part of expansion efforts.
Sun Pharma: One of the wholly-owned subsidiaries of the company has increased its shareholding in Ranbaxy Malaysia Sdn Bhd, Malaysia, by way of further purchase of 3,86,865 shares of face value of MYR 1.00 each (equivalent to 4.84 per cent) of Ranbaxy Malaysia Sdn Bhd.
Fortis Healthcare: Fortis Healthcare clarifies on news item stating it hasn’t gotten any communication about an SFIO probe into the company.
Vardhman Special Steel: Closure of the QIP February 19, 2018 and issue price fixed at Rs. 140 per equity share.
Vascon Engineers: Company has signed pact with Lina Ashar Foundation to develop Pune land parcel.
Gayatri Projects: Gayatri Projects announces a reorganization of its energy business.
Religare Enterprise: Approves raising of funds through the issue of warrants worth Rs. 916 crore.
Advance Enzyme: Board approves additional investment of MYR 3,00,000 in Malaysian unit.
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