Index trend and stocks in action October 17, 2017

Nifty opened the previous trading session with a gap-up and scaled new all time high of 10,243. The opening upside gap was filled on Monday itself and thereafter, Nifty consolidated in a range with positive bias and at the end of the day Nifty managed to close above yet another milestone of 10,200 mark. Going ahead, immediate upside resistance are placed around 10,245 and 10,285. Whereas, immediate support base has shifted to the levels of 10,170. We expect index to trade with a positive bias and therefore any dip should be used as buying opportunity.   

DCB Bank: DCB Bank announced the launch of its 310  th branch, and thereby, completing the 150+ branch roll out plan embarked in October 2015. 

Yes Bank: Yes Bank receives rating from ICRA for a cumulative amount of Rs. 7,500 Crore with a rating of “ICRA AA(hyb) Outlook-Positive”. 

Atlas Cycles: The Board of Directors have fixed 31 st October, 2017 as record data for sub division of 1 equity share of Rs 10 each fully paid up into 2 equity shares of Rs 5 each fully paid up. 

HCL-Infosystems: Rights Issue Committee of the Board of HCL Infosystems Limited is scheduled to meet on Friday, 20th October, 2017 to consider right issue size, fix the rights issue price and ratio for rights entitlements, and fix the record date for the purpose of Right issue. 

Jain Irrigation: Company redeems foreign currency convertible bonds (FCCB’s) of USD 40 Million.