Index trend and stocks in action January 16, 2018

Nifty opened the session on a cheerful note above the milestone of 10,700 owing to positive global cues. Thereafter, it extended its gains and touched the all-time high level of 10,782.65. However, in the second half of the session, profit-booking was seen and Nifty settled a tad below the 10,750-mark. A small body positive candle was formed with long upper wick, which indicates profit booking from the new highs. Going forward, Monday’s gap (10,690.40-10,713.80) is expected to offer support to the Nifty. In the coming session, if bulls manage to defend this gap, then we can see extension of the rally towards the level of 10,800. However, a decisive move below the gap area would result in profit-booking up to the levels of 10,650-10,630

Speciality Restaurants: Opens of new 'Mainland China' franchise restaurant at Colombo.

Seamec: Company's Vessel SEAMEC PRINCESS is deployed with L&T Hydrocarbon Engineering Limited for a period of about 19 days. The total value of the contract would be around US$ 1,260,000.

Edelweiss Financial Services: CRISIL Limited has assigned the rating of 'CRISIL A1+' (CRISIL A one plus) to the company's proposed Short Term Debt Issue of Rs. 5,000 crore.

BSE: BSE board approved a buyback of up to 15 lakh shares at Rs. 1,100 per share; will spend Rs. 166 crore on buyback.

Vascon Engineers: Vascon Engineers announced that it had sold 68 units or 85 per cent of the units in their project ‘Forest Edge” on launch day.

BL Kashyap and Sons: Standard Chartered Bank approved one-time settlement.

Bajaj Finance: Company would hold approximately 12.60 per cent of equity in MobiKwik on a fully diluted basis post conversion of convertible cumulative preference shares (CCCPS) though the total investment remains at the same Rs. 225 crores as made originally.

Bharat Bijlee: Bharat Bijlee to receive Rs. 46.79 crore from MIDC towards acquisition of land situated at Navi Mumbai.

Jubliant Life Sciences: Company has received environmental clearance from the Ministry of Environment, Forest and Climate Change of the Government of India for setting up a pesticide project in the Special Economic Zone of the company at Gujarat State.

Max Ventures: The Board of Directors approved raising up to Rs. 450 crore via rights issue.