Index trend and stocks in action November 21, 2017
DSIJ Intelligence-3 / 21 Nov 2017
Going forward, the level of 10,340 is a key hurdle to watch out for as it is 61.8% retracement of the recent fall from the high of 10,490 to the low of 10,094. Follow through move above the level of 10,340 could possibly open up for 10,400.
During the previous trading session, Nifty opened the session on a flat note and shifted into narrow range for the most part of the trading session. The price action of the day formed a small bull candle. Going forward, the level of 10,340 is a key hurdle to watch out for as it is 61.8% retracement of the recent fall from the high of 10,490 to the low of 10,094. Follow through move above the level of 10,340 could possibly open up for 10,400. On the flipside, supports are seen at the recent gap area which was formed on Friday.
Quess Corp: The Board of Directors at its meeting considered and approved the acquisition of 51% equity stake in Tata Business Support Services.
ARSS Infrastructure Projects: A work order amounting to Rs. 87.09 crores has been awarded to the company by Rail Vikas Nigam.
DCB Bank: The bank has successfully concluded a capital raising program for Rs. 300 crores from its recent Tier II issue.
TCS: TCS has entered into a multi-year partnership with Fairfax Events on three major running events in Australia.
Quick Heal: Quick Heal entered into a collaboration with Jetico to develop encryption solutions.
Virinchi: Approved preferential issue of 26 lakh convertible equity warrants to promoter group.
NBCC: NBCC has awarded the contract for Construction of Various Buildings for IIT Bhubaneswar to M/s Simplex Infrastructures Limited, Kolkata for Rs. 524.12 crore (approx.) with completion period of 15 months. NBCC will get Project Management Consultancy Fee for the same.
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