Index trend and stocks in action October 26, 2017

During the previous trading session, Nifty closed at record level on the back of stellar performance by the banking and infrastructure stocks. Nifty ended the day at 10,295 with gains of 88 points. Nifty after moving in a range of 110-130 points in the last 6 trading session breached the range on the higher side which was placed at 10,240. Hence, going forward intraday correction may find support around the level of 10,240. On the other hand, the level of 10,340 may act as a resistance for the Nifty followed by 10,380 levels. Today being expiry day for the October series we expect volatility in the markets.  

Polaris: The company's board will meet on October 31, 2017 to consider proposal of voluntary delisting of the equity shares of the company. 

Delta Corp: Delta Corp has entered into a MoU with Everest Hospitality and Hotel for leasing out space to casino at the upcoming 5-star Marriot Hotel in Kathmandu, Nepal. 

Quess Corp: Quess Corp Limited has signed definitive agreements to acquire 70% equity in Vedang Cellular Services Private Limited with an investment upto Rs. 40 crores. 

GVK Power: Company announced that its subsidiary Mumbai International Airport Pvt Ltd (MIAL) has received a Letter of Award from City & Industrial Development Corporation (CIDCO),t he nodal agency of the Govt of Maharashtra for the Navi Mumbai International Airport Project. 

Phoneix Mills: Company says NCLT approves scheme of merger of two of its subsidiaries. 

Wipro: Acquisition of Cooper Software, Inc. has been completed. 

HDFC Bank: The bank has received communication from the regulator advising it to classify one of its accounts as NPA. 

HDFC: Board approves IPO of HDFC Life of up to 29.98 crore shares.