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23Rd Aug 2016
I had mentioned in Monday’s closing report that Nifty,
Sensex look weak. The major indices of the Indian stock markets were range-bound
on Tuesday and closed with marginal gains over Monday’s close. The trends of
the major indices in the course of Tuesday’s trading are given in the table
below: The Total Investment &
Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
On Tuesday, the
benchmark indices opened on a flat-to-negative note on the back of lower Asian
and US markets, although the European markets closed higher. The markets also
traded with apprehension as caution prevailed ahead of a speech by Federal
Reserve Chair Janet Yellen later in the week. Investors are vigilant of a
possible interest rate hike in the US as this can potentially lead FPIs
(Foreign Portfolio Investors) away from emerging markets such as India. In
addition, lower crude oil prices led the key indices to cap gains. Also, the
foreign institutional investors have been net sellers for the first time in
August. The Total Investment &
Insurance Solutions
Hindustan Petroleum Corporation Ltd (HPCL) on
Monday reported a 30% rise in its net profit to Rs2,098.38 crore in the quarter
ended 30 June 2016 as compared to Rs1,614.13 crore in the corresponding period
last year. Net sales in the quarter under review stood at Rs51,599.52 crore,
down 5.7% from Rs54,739.46 crore in the same quarter last year. The company's
crude throughput (rate of production) grew to 4.48 million metric tonnes (MMT)
in the June quarter from 3.75 MMT in the year-ago period. In volumes, domestic
sales increased to 8.89 MMT in the first quarter of current fiscal from 8.46
MMT in corresponding quarter last year while exports fell to 0.03 MMT from 0.12
MMT. On Tuesday, HPCL shares closed at Rs1,149.95, down 5.32% on the BSE.
JK Tyre and
Industries has said it will combine its several R&D centres under one roof
to set up a world-class research centre. "JK Tyres has been using robotics
technology since 2003, and we are using 14 such robots nicknamed 'Adams' in our
Mysuru plant," chairman Raghupati Singhania told IANS in an interview,
pointing to the robot which brought on stage the company's ten millionth radial
at an event here on Monday. "Our R&D centres currently spread over
different locations are now going to be brought under one roof in a world-class
research centre here with an investment of Rs100 crore ($15 million). "It
will house the most modern and advanced equipment manned by highly experienced
engineers and scientists with deep insight into material resource, designs,
aesthetics and structures, " he said, adding that the centre will start
with 200 scientists, whose number will double during the next one year,"
Singhania said. Noting that JK Tyres pioneered radial technology in India,
being the first to produce such tyres for trucks and buses in 1999, he said it
is R&D which helps the company remain ahead as tyre technology is
"ever evolving and developing rapidly". "JK Tyre is going
greener, not only in manufacturing processes and plants, but also in
products," he said. "The green tyres that we produce have low rolling
resistance, which helps in saving fuel. Besides, we are constantly reducing our
carbon footprint by reducing energy and water consumption -- two critical
resources in tyre manufacturing," the chairman said. The shares of the
company closed at Rs110.85, up 0.32% on the BSE.The Total Investment & Insurance Solutions
The top gainers and top losers of the major
indices are given in the table below:
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Top Gainer (The Total
Investment & Insurance Solutions)
The closing values of
the major Asian indices are given in the table below: The Total Investment & Insurance Solutions
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| Asian Indices (The Total Investment & Insurance Solutions) |
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