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CAPITALSTARS – भारत में खरीदारी के लिए बेहतर हैं ये स्‍टॉक: 15 MAR 2019

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The Nifty made a positive start to the day, but it soon pared its gains and took no directional bias throughout the day and ended the session at 11,343. The price action formed a small body negative candle with a minor lower shadow. The major indicator is continuing in overbought zone since last one week. Profit-taking is visible in the index and some of the stocks. As of now, no distribution signs are found. Nifty may try to come off overbought condition and, in the process, it may cool off for some time. Nifty outlook remains positive as there are no clear downward signals. At this juncture, the risk-reward ratios are not favourable for long positions in Nifty. At the same time, do not short the index as there are no negative confirmations available. For intra-day, the level of 11,300 is likely to act as an immediate support, followed by 11,270. On the upside, the level of 11,385, which is 78.6 per cent retracement of decline from August to October, is likely to act as a stiff resistance.

Reliance Industries: Brookfield has filed the preliminary placement memorandum in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as sponsor and 90 per cent investor, will invest Rs 13,000 crore to acquire the East West Pipeline. As a part of the transaction, the InvIT will acquire 100 per cent equity interest in Pipeline Infrastructure Private Limited, which currently owns and operates the pipeline.

Tech Mahindra: The investment committee of the board of directors of the company has approved the proposal to acquire 100 per cent shareholding in K-Vision Co Ltd. through its wholly-owned subsidiary, i.e. Mahindra Engineering Services (Europe) Limited.

IDBI Bank: RBI has categorized IDBI Bank as a private sector bank for regulatory purposes with effect from January 21, 2019, consequent upon Life Insurance Corporation of India acquiring 51 per cent of the total paid up equity share capital of the bank. Also, ICRA reaffirmed its rating of Upper Tier II and perpetual bonds to BBB+; whereas the outlook on these instruments has been removed from ‘Rating watch with developing implications’ and assigned a ‘negative’ outlook.

EMAMI: Securities Appellate Tribunal (SAT) has passed an order accepting the appeal and quashing the order of the SEBI’s adjudicating officer imposing penalty of Rs 8 lakh on R S Agarwal, the executive chairman of the company.

Investment & trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
CapitalStars Investment Adviser: SEBI Registration Number: INA000001647.

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