Index trend and stocks in action July 26, 2018

The NSE benchmark Nifty was quiet on Wednesday’s session ahead of the July F&O expiry, despite a positive start following encouraging global cues. After three consecutive upticks, Nifty traded in a slender range with some choppy moves, after which it finally closed flat. The price action formed a small body negative candle carrying a higher high-higher low, indicating minor profit booking after the recent run-up. Going ahead, Tuesday’s session low of 11,092 would be seen as a crucial support level and any cool off around this level should be used as an incremental buying opportunity as the structure of the index remains very much intact. The Thursday session being the expiry of the current derivative series, volatility would be expected during the day. On the upside, the level of 11,172 would act as a stiff barrier.  

Dish TV: World Crest Advisors LLP along the PAC's has successfully completed the open offer process for acquisition of the equity shares of Dish TV. 

NTPC: The  NTPC board will consider plan to raise Rs 12,000 crore via NCDs on July 28.  

REC: The REC board has approved plan to raise upto Rs 70,000 crore via debt. The funds will be raised in tranches during a period of one year from the date of passing of resolution. 

ICICI Bank:  ICICI Bank Limited has not received any communication from SFIO. 

JSW Steel: JSW Steel, through its wholly-owned Italian subsidiary JSW Steel Italy S.r.l., has completed the acquisition of 100 per cent shares each of Aferpi S.p.A and Piombino Logistics S.p.A and 69.27 per cent of the shares of GSI Lucchini S.p.A. 

Infosys: Ayeyarwaddy Farmers Development Bank in Myanmar has selected Infosys' Finacle to drive innovation and growth'. 

PNB:  The bank has invited expression of interest towards the strategic sale process initiated by itself and Quality Investment Holdings in relation to the respective shareholding in PNB Housing Finance.