A positive opening expected as SGX Nifty is trading up by 15 points.
As mentioned yesterday, Nifty closed above its support of 10430 even after it dived below 10400 mark. As expected it recovered smartly in the second half to plot a hammer like candle on the daily chart. Hammer pattern shows the strength of bulls over bears from the lowest level of the day. A hammer consists of a big lower shadow but no upper shadow.
🎯 News & Impact 🎯
🎯 Jindal Stainless mull increasing its foreign portfolio investor investment limit to 100 percent of the paid-up equity share.
Positive for the stock. 👍
🎯 Auropharma :
Wholly owned subsidiary, Aurobindo Pharma USA Inc., USA, has entered into an agreement to acquire commercial operations and three manufacturing facilities in USA from Sandoz.
🎯 Alembic Pharmaceuticals :
CRISIL reaffirmed credit rating of AA+/Stable.
🎯 Fortis :
Delhi High Court ordered Malvinder Singh to deposit S$3.5 million.
🎯 ONGC :
Output from the South Sudan oil field will increase from 8,000 barrel/day to 20,000 barrel/day.
🎯 PSP Projects :
Company has received work orders worth Rs.226.07 crore (standalone basis) from various clients for industrial and institutional projects.
🎯 Nandan Denim received a sanction of subsidy under the Gujarat State Textile Policy, expecting to save Rs.65 crores in next 5 years.
Positive for the stock. 👍
🎯 Welspun Corp :
Board approved the merger plan pf Welspun Pipes with self.
🎯 Bharti Infratel :
Vodafone Idea Ltd. to exit 27,447 co-locations w.e.f. Sept. 1, 2018.
Negative for the stock.
🎯 Quess Corp :
Company approved acquisition of additional 3 % equity in Heptagon Technologies Private Limited.
🎯 Jubilant Life Sciences :
Company raises Rs.350 cr via NCDs.
Edited by Sharp.
© 2018 Sharp Investment & Financial Advisers
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