Index trend and stocks in action February 28, 2017
Chirag Gothi / 28 Feb 2017
Now going forward, Nifty has immediate support placed around levels of 8880, and a move below this level may open up for correction up to levels of 8820.
On Monday, the Nifty opened the session on a flat note and thereon it shifted into intraday consolidation with a negative bias. However, during the afternoon session selling pressure intensified and Nifty closed near day’s low. Now going forward, Nifty has immediate support placed around levels of 8880, and a move below this level may open up for correction up to levels of 8820. Whereas, on the upside, the resistance is placed around levels of 8920, and a move above this level may open up for an up-move upto levels of 8970. However, the zone of 8970-9000 is a major resistance for the Nifty.
Coal India: State-run, Coal India said the board of its subsidiary South Easter Coalfields, has approved a share buyback plan worth Rs 1,200 crore.
Den Networks: The company has launched a mobile TV application, Den TV+ and OTT services for its subscribers.
Varun Beverages: Company raised Rs 300 crore through the issue of debentures. It also allotted 1,500 non-convertible debentures of Rs 10 lakh each, to both RBL Bank and Kotak Mahindra Bank, on a private placement basis.
Welspun Enterprises: Company’s buy back offer for four crore shares at Rs 269 a piece opens on March 03 and closes on March 17.
SREI Infrastructure: The company allotted NCDs worth Rs 335.2 crore.
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