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Your Financial Adviser Money Making MC
11Th
Aug 2016
I
had mentioned in Wednesday’s
closing report that Nifty, Sensex have broken the uptrend on low
volumes. The major indices of the Indian stock markets were
range-bound on Thursday and closed with small gains of less than
0.50% over Wednesday’s close. Investors were cautious and
consequently, NSE trading volumes were on the lower side. The trends
of the major indices in the course of Thursday’s trading are given
in the table below:
 |
| Major Indices (The Total Investment & Insurance Solutions) |
The
Indian equity markets traded flat for most of day. Selling pressure
was witnessed in automobile, metal and capital goods stocks. The
markets were bearish with BSE having 1,165 advances, 1,500 declines
and 67 unchanged. On the NSE, there were 585 advances, 871 declines
and 62 unchanged.The Total Investment & Insurance Solutions
State-run
oil marketing companies (OMCs) will add 5 lakh tonnes annual capacity
of bottling plants in West Bengal in the next three years catering to
the demand for LPG cylinders under Pradhan Mantri Ujjwala Yojana
(PMUY), a top official said on Thursday. "We (all three OMCs)
have 10 bottling plants in the state with a combined capacity of 9
lakh tonnes. We will add 5 lakh tonnes capacity of the bottling
plants in the next 2-3 years to cater to the demand for LPG cylinders
under the PMUY," said Ranjan Kumar Mohapatra, Indian Oil
Corporation's (IOC) General Manager-cum-State Level Coordinator
(Marketing Division West Bengal State Office). The investment will be
around Rs540 crore, he said. In West Bengal, there are around 2.3
crore households and 1.06 crore are target beneficiaries which will
be covered by 2019. "The process of de-duplication of eligible
applicants has already been started. Around 6.84 lakh households have
been enrolled under the scheme in the state. Of which, de-duplication
of 4.6 lakh cases has already been completed for providing
connections," he said. The identification of eligible BPL
families will be made on Social-Economic Caste Census (SECC) data.
The centre will launch the scheme on August 14. IOC shares
closed at Rs544.80, up 1.13% on the BSE.The Total Investment &
Insurance Solutions
Demand
for gold in India for the second quarter dropped by 18% mainly due to
high price, jewellers' strike and various regulatory moves by the
government, Somasundaram PR, Managing Director, India, World Gold
Council, said here on Thursday. The demand for the precious yellow
metal for the April-June quarter in 2016 was 131 tonnes, down by 18%
compared to 159.8 tonnes in the corresponding period in 2015. India's
second quarter 2016 gold demand value was Rs35,500 crore, a fall of
8.7% in comparison to the same period a year ago. “In India,
consumer demand fell 18% to 131 tonne in Q2 2016, compared to 159.8
tonne in the same period last year, and only marginally higher than
Q1 2016. This quarter too was a truncated period for sales as the
jewellers' strike extended into April and remained more or less
effective until Akshaya Tritiya, when sales saw a brief boost,”
Somasundaram said while releasing the second quarter demand report.
“However, elevated price levels and a regulatory push for
transparency through PAN cards, tax collection at source and excise
duty on jewellery, coupled with weaker rural incomes kept demand
subdued,” he added. The second quarter also witnessed a spurt in
the flow of unofficial gold into the country, significantly impacting
the organised and tax compliant segments of the gold industry, he
said. “Out of the total demand in the second quarter, 40-45 per
cent gold came through unofficial route.” The World Gold Council
estimates gold demand for 2016 to be in the range of 750 to 850
tonnes. The lower demand for gold is a positive indication for the
bulls in the stock markets in India, as investors are not playing
safe and are looking for tangible return on investment through
corporate earnings.The Total Investment & Insurance Solutions
Automobile
manufacturer Mahindra and Mahindra (M&M) on Wednesday reported a
rise of 12.36% in its standalone net profit for the first quarter of
the current fiscal. According to the company, Q1 standalone net
profit stood at Rs955.21 crore from Rs850.09 crore for the quarter
ended June 30, 2015. The company informed the BSE in a regulatory
filing that its total revenue from operations during the quarter
under review increased by 14.05% to Rs11,942.90 crore from
Rs10,470.86 crore for the quarter ended June 30, 2015. The company
said in a statement that while public investment expenditures remain
strong, urban demand has been picking up pace since the third quarter
of the previous fiscal and is expected to receive further impetus
from the Seventh Pay Commission awards, which will be given effect in
the current month. “More importantly, the double digit growth in
domestic sales of tractors and two wheelers witnessed in the first
quarter of 2016-17 suggests that a recovery in rural demand is now
underway,” the statement said. The company elaborated that rural
demand can be expected to gather further strength in the coming
months given the robust rainfall received thus far and IMD's (India
Meteorological Department) prediction of normal rains for the rest of
the monsoon season. The company cited that weak external demand,
underutilised capacities and balance sheet stress have hindered
domestic private investment. The company’s shares closed at
Rs1,420.70, down 1.88% on the BSE, on Thursday.The Total Investment &
Insurance Solutions
The
top gainers and top losers of the major indices are given in the
table below:
 |
| 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
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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