Index trend and stocks in action March 21, 2018

The benchmark Nifty, after a negative opening, saw a V-shaped recovery and ended the session above the 10,100-mark. The price action formed a bull candle. Going ahead, Nifty will have to trade above the 10,165-mark, which is its 200-day SMA, to extend its upmove. On the downside, the levels of 10,040-10,000 would be seen as a crucial support zone for the day. The daily 14-period RSI has curved up by confirming a formation of positive divergence.   
 
Jindal Steel: Jindal Steel opens QIP at a floor price of Rs. 227.15 per equity share. 

TCS: TCS announced that Saudi Real Estate Refinance Company (SRC) has implemented a single, integrated technology platform for its core operations to refinance real estate, a first of its nature deployment in the Middle East region. TCS BaNCS will now service the complete mortgage refinancing lifecycle including the Treasury function as well as finance, human resources and payroll administration through its partner network. 

Ashoka Buildcon: Ashoka Buildcon emerges the lowest bidder for Mort&H project. 

Greenply Industries: Greenply Industries mulls demerger of MDF business. The board also approved the expansion of veneer line in the existing manufacturing unit situated at Gabon.   

TCI: TCI acquired one ship with a capacity of 26,262 DWT for Rs. 48.80 crore. 

Mercator: The Company has entered into a Memorandum of Agreement with M/s. Best Oasis Limited, Hong Kong to sell its vessel M. V. Vrinda for a total consideration of US$ 4.25 million.  Proceeds of the sale would be used to repay debts of the company. 

Raymond: The meeting of Committee of Board of Directors of the company will be held on Friday, March 23, 2018 inter alia, to consider and approve the Issue of Non-Convertible Debentures aggregating upto an amount of Rs.100 Crore on private placement basis.