Index trend and stocks in action October 23, 2017

Nifty started the first trading session of Samvat 2074 on a flat note and experienced heavy sell-off. At the end of Muhurat trading, Nifty slipped 0.63% to close at 10,147. On the daily chart, Nifty formed a long bear candle. Going ahead, the level of 10,120 is a key support for the index any follow through move below the level of 10,120 may open gates for correction up to levels of 10,080. On the upside, resistance is placed in the range of 10,180-10,200. 

HCL Infosystems: Board approves Rs 499.09 crores fund raising via rights issue. 

Ramco systems: Company has set up a wholly-owned subsidiary in Indonesia under the name PT Ramco Systems Indonesia. 

Kridhan Infra: To raise up to Rs 150 crore via QIP. 

GMR Infrastructure: GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and GMR Infrastructure Limited (GMR Group), announced that it has on 19th October 2017 successfully priced an offering of US$ 350 million  bond in the international bond market. GHIAL has entered into a Purchase Agreement to issue and allot US$ 350 million of 4.25% senior secured fixed rate notes of 10 year tenure. The proceeds from the Notes will be used to entirely refinance the current outstanding Rupee Term Bank Loan (RTL), Bank External Commercial Borrowing (ECB) and towards partial funding of proposed capital expenditure. 

South Indian Bank: The Central Bank of UAE has given approval to open a representative office of the South Indian Bank in Dubai, UAE.