Index trend and stocks in action November 23, 2017

During the previous trading session, the benchmark index started off session on a slightly positive note and thereafter, it witnessed a choppy trend as it consolidated in a narrow range for the most part of the trading session. The price action formed a high wave like candle. Going forward, the bias remains positive as long as Nifty stays above Monday’s low of 10,261 and nifty moving decisively above the level of 10,380 could possibly result in the upside move up to levels of 10,450 and 10,490. On the other hand, a move below level of 10,260 would negate positive stance. 

Bank of India: SEBI has permitted the bank to raise capital by way of issue of equity shares through qualified institutional placement, subject to the receipt of the approval from Government of India. 

Bharti Airtel: Company said that Tala Teleservices customer will start transitioning to the Airtel mobile network under an Intra Circle Roaming (ICR) arrangement. 

Info Edge: Zomato has completed the acquisition of Cathero Technologies Pvt. Ltd. (Runnr), an on-demand logistics and delivery company. 

Thomas Cook: Thomas Cook India Group proposes to raise over Rs. 600 crore via dilution of 5.42 per cent stake in Quess Corp. Will Retain controlling stake. 

Sun Pharma: Stake in ScPharmaceuticals reduces to 12.31 per cent from 14.58 per cent after latter's IPO. 

Karur Vysya Bank: The Capital Raising Committee of the Bank has allotted 11.7 crore share via rights issue.