Index trend and stocks in action March 15, 2017

On Tuesday, Nifty opened the session with a sharp upside gap, and it made an attempt to move higher during the early part of the trading session. But later on, it shifted into a sideways movement with some volatile moves in the final hour of the session. Nifty broke out of the range after 12-13 trading sessions with a gap up. On the daily chart, Nifty has formed a ‘Doji’ Candlestick pattern. Now going forward, nifty may face resistance at level of 9120 and then at 9230. Whereas, strong support for the Nifty stands at levels of 8990-9000, and as long as Nifty trades above the mentioned support level, buy on dips would be an ideal strategy.

IndusInd Bank: IndusInd Bank will acquire brokerage firm IL&FS Securities Services, a subsidiary of Infrastructure Leasing and Financial Services (IL&FS), in an all-cash deal, subject to regulatory approvals, as per the statement by the bank.

Tata Chemicals: Tata Chemicals informed bourses that it has received a notice from the Central Pollution Board on March 11, directing the company under Section 5 of the Environment Protection Act, 1986 to shut down plant operations at Haldia, West Bengal for alleged non-compliance with the prescribed norms for liquid affluent discharge.

Larsen & Toubro: Construction major L&T’s arm, L&T Realty, has sold its 51 per cent stake in a township project at Chennai for Rs 190 crore to an investment firm, Pragnya Group.

Wipro: Wins 12-year contract from NHS Scotland to build a next generation Enterprise Master Patient Index (eMPI) solution.

Bank of Baroda: To raise Rs 500 crore via Basel-III compliant AT-1 bonds with green shoe option of Rs 500 crore, on a private placement basis, depending upon market conditions.