Index trend and stocks in action May 15, 2017
Chirag Gothi / 15 May 2017
On the upside, immediate resistance is likely to come in at levels of 9440-9450, if nifty holds above the level of 9450 it's likely to scale higher up to levels of 9510-9530. Stocks in action for the day are HDFC Bank, NBCC, GMR Infrastructure, Edelweiss Financial Services, Godrej Industries, TGB Banquets and Hotels, JSW Energy.
On Friday, Nifty opened the session on a positive note and slipped into negative territory during the early part of the trading session. Later on, it remained in a choppy range and in the last leg, it recovered from lower levels to close at levels of 9400. Now going forward Nifty has immediate support placed around levels of 9365 if this support is breached next support is likely to come in at levels of 9330. On the upside, immediate resistance is likely to come in at levels of 9440-9450, if nifty holds above the level of 9450 it's likely to scale higher up to levels of 9510-9530.
HDFC Bank: The Bank has issued and allotted on May 12, 2017 on a private placement basis 8.85% Unsecured, Subordinated, Fully Paid-Up, Non-Convertible, Basel III compliant, Perpetual Debt Instruments in the nature of debentures for inclusion in Additional Tier I Capital amounting to Rs.8000 Crore (80000 Bonds of face value Rs.10,00,000/- each).
NBCC: NBCC has secured the total Business of Rs.315.24 Cr. in the month of April 2017.
GMR Infrastructure: GMR Infrastructure Limited announces entering into agreements for divestment of its fully owned Indonesian coal mining entities to PT GEMS, Indonesia.
Edelweiss Financial Services: ICRA Limited has assigned the rating of ‘[ICRA]A1+' (ICRA A one plus) to the proposed CP Programme of Rs.5,000 Crores of the Company.
Godrej Industries: Board of Directors of subsidiary Godrej Agrovet Ltd. grant approval for the proposed IPO
TGB Banquets and Hotels: The Company has been able to conclude the deal of sale of its Surat property named TGB Hotels for Rs. 160Cr. (Rupees One Hundred Sixty Crores only) + all expenses towards registration, stamp duty, legal fees and others, will be borne by the buyer. The proceeds have been utilised to repay the bank loans of the company.
JSW Energy: The Company agreeing to acquire the 500 MW (2X250 MW) thermal power plant located at Bina, District Sagar in the State of Madhya Pradesh from Jaiprakash Power Ventures Limited with 31st May 2017 (the Long Stop date) as the indicative time period for completion of the acquisition. The company now wish to inform you that, as mutually agreed between the parties, the Long Stop date has been extended to 31st December 2017.
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