Index trend and stocks in action December 27, 2017

During the previous trading session, after a flattish opening, Nifty moved in a narrow band for most part of the session. However, the index surged higher in the last leg of trading and closed at record levels, crossing the 10,500-mark for the first time. The price action resulted in formation of a small body bull candle with long lower wick. Going ahead, the overall bias remains positive. The support for Nifty is pegged at 10,480 levels whereas, on the upside, the level of 10,600 is viewed as immediate target for the index.  
 
Prataap Snacks: Prataap snacks has entered the category of sweet snacks market through its wholly-owned subsidiary with the launch of its new brand ‘Rich Feast’. The first product under the new brand is ‘Yum Pie’, a three layered treat with sponge cake, flavoured jam and chocolate. 

Canara Bank: The bank has decided to raise additional equity share capital amounting up to Rs. 90 crores (Face Value), through QIP route by issuing up to 9 crore equity shares of face value Rs. 10 each with a premium to be decided as per the applicable guidelines/regulations for an aggregate amount not exceeding Rs. 3,500 crore inclusive of such premium. 

Srikalahasthi Pipes:  QIP closes, issue price fixed at Rs. 360.5 which is at discount of 5 per cent to the floor price. 

Essar Shipping:  Essar Oilfield Services India Limited (EOSIL), a step-down subsidiary of Essar Shipping Limited has commenced a contract awarded by Mercator Petroleum . 

ITC: Company has informed that certain individuals and NGOs have filed special leave petition against the Honorable High Court ruling on cigarette warning. 

Yes Bank: Acquisition of more than 5 per cent stake in One Point One Solutions under the Anchor Investor Portion to the IPO. 

Reliance Communication: Announces exit from SDR framework with zero write-offs to lenders, to reduce debt by Rs. 25,000 crore.