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14
February 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex were still in a limbo.
The major indices of the Indian stock markets were range-bound on Tuesday and
closed with miniscule losses 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)
Indian
equities markets on Tuesday closed on a flat note -- marginally in the red --
as disappointing macro-economic data, coupled with broadly negative Asian
indices and profit booking, subdued investors' sentiments. The BSE market
breadth was tilted in favour of the bears -- with 1,790 declines and 1,039
advances. On the NSE, there were 479 advances, 991 declines and 61 unchanged. The Total Investment & Insurance Solutions
India's
annual rate of inflation based on wholesale prices rose to 5.25% during last
month from 3.39% reported for December 2016, official data showed on Tuesday,
mainly due to a rise in fuel costs. According to the Wholesale Price Index
(WPI) data released by the Commerce and Industry Ministry, the annual inflation
rate was (-)1.07% in January, 2016. The wholesale inflation for food articles
declined by (-)0.56% during the month under review from (-)0.70% in December
and 6.46% recorded for January, 2016. However, expenses on primary articles,
which constitute 20.12% of the WPI's total weight, rose by 1.27% during
January. On Monday, the Central Statistics Office (CSO) reported that India's
annual retail inflation eased to 3.17% in January from 3.41% in December and
5.69% reported during the corresponding period last year. The increase in
inflation could lead to a hardening of interest rates and hence a slowdown in
the bullish approach in the stock markets. The
Total Investment & Insurance Solutions
The
US Senate on Monday confirmed multimillionaire hedge fund manager Steve Mnuchin
as President Donald Trump's new Treasury Secretary, a post in which he will
make tax reform -- in particular, lower taxes -- a priority. The 53-47 vote was
taken in the Senate on Monday evening. Senator Joe Manchin of West Virginia was
the only Democrat to vote for Mnuchin, and was also the only lawmaker of his
party to vote for Attorney General Jeff Sessions' confirmation. Democrats had
claimed that Mnuchin, an ex-banker, ran a "foreclosure machine" when
he was head of OneWest Bank, making a significant part of his large fortune by
foreclosing on families during the financial crisis. President Donald Trump's
Treasury pick had told senators during his confirmation hearings, in contrast
to Democrats' assertions, that during the financial crisis he helped homeowners
secure refinancing so that they would not be foreclosed upon.
State
run oil marketing company Hindustan Petroleum Corporation Ltd (HPCL) on Monday
reported a 52.73% increase in its net profit to Rs1,590.31 crore in 31 December
2016 as compared to Rs1,041.25 crore in the corresponding period last year. Its
sales during the quarter were at Rs55,470.66 crore, up by 15% from Rs48,253.58
crore in the year-ago period. The company's crude throughput was at 4.66 mmt in
the December quarter, up from 4.57 mmt in the same period in the last financial
year. The oil giant reported average gross refining margin during the first
nine months of the current fiscal was at $5.57 per bbl, as against $6.35 per
bbl, during the corresponding period of the previous year. The company earned
$6.38 on turning every barrel of crude oil into fuel in the quarter ended
December as against a gross refining margin of $7.86 per barrel a year ago. Fuel
sales rose 5.6% to 9.02 million tonnes with petrol sales increasing 10.7%,
diesel sales by 5.1% and LPG by 10.5%. HPCL shares closed at Rs545.75, down
5.60% on the BSE. The Total Investment & Insurance
Solutions
Reliance
Infrastructure (R-Infra) on Monday posted an impressive 49% jump in consolidated
net profit for the third quarter ended December at Rs375 crore, as compared to
the profit after tax of Rs251.50 crore in the same quarter of 2015-16. The
company's total operating income during the quarter in consideration came in at
Rs5,815.69 crore, as against Rs6,199.48 crore in the same quarter of the
previous year. Its total expenditure increased to Rs5,775.23 crore during
the third quarter, as against the Rs5,407.82 crore spent in the same quarter of
2015-16. "As on December 31, 2016, the consolidated net worth of the
company stood at Rs31,616 crore with debt to equity of 0.93x," R-Infra
said in a statement. "Discussions are in advanced stage with PSP
Investments of Canada for 49% stake sale in Mumbai power business," the statement
said. R-Infra said it has executed a share purchase agreement with Adani
Transmission for "100% sale of WRSSS transmission assets and Parbati
Koldam project, respectively". On its engineering, procurement and
construction (EPC) business, the company said it had orders worth Rs5,540
crore, and revenue of Rs753 crore during the quarter in question. The
company won an "EPC contract for setting up 2x250 MW thermal power plants
worth Rs3,675 crore in Rajasthan from Neyveli Lignite Corporation and is
targeting opportunities worth Rs2 lakh crore planned by the government across
power, roads, railways, defence, ports and mega infrastructure projects".
All of the company's 11 road projects of 1,000 km are now revenue
generating, it said. "R-Infra InvIT fund has filed DRHP with Sebi for 10
projects with issue size of Rs3,000 crore and an option to retain up to 25%
oversubscription," the statement added. The company’s shares closed at
Rs561.65, up 4.89% on the BSE on Tuesday. The
Total Investment & Insurance Solutions
The
top gainers and top losers of the major Indian 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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