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February 2017
I had
mentioned in Wednesday’s closing report that Nifty, Sensex might be at the
start of a fresh rally. The major indices of the Indian stock markets continued
their upmove on Thursday and closed with small gains of 0.20%-0.30% over
Wednesday’s close. The trends of the major indices in the course of Thursday’s
trading are given in the table below: The Total Investment & Insurance Solutions
 |
Major Indices (The Total
Investment & Insurance Solutions)
Short
covering, coupled with a marginally strong rupee and hopes of positive
quarterly corporate earnings buoyed the Indian equities markets during the
mid-afternoon trade session on Thursday. However, investors were cautious ahead
of the Reserve Bank of India's (RBI) monetary policy slated for next week, and
the Bank of England's (BoE) interest rate decision later in the day. The
key indices traded in the green on a flat-to-positive note. Buying was
witnessed in consumer durables, healthcare and IT (information technology)
stocks. The BSE market breadth was tilted in favour of the bulls -- with 1,509
advances and 1,138 declines. The Nifty mid-cap and small-cap indices traded in
the positive territory, while the large-cap index traded on a lacklustre note.
Asian indices traded in the negative territory and the Indian rupee continued
to trade positive marginally, as favourable factors for the bulls in the
market. On the NSE, there were 800 advances, 628 declines and 55 unchanged. The Total Investment & Insurance Solutions
Realty
major Godrej Properties Ltd, part of the Godrej Group, announced major
top-level changes in its set-up on Thursday with Chairman Adi Burjorji Godrej
elevated as 'Chairman Emeritus', an official statement said. The company's
Managing Director and CEO Pirojsha Adi Godrej will be the new Executive
Chairman, while Executive Director Mohit Malhotra has been named the new
Managing Director and CEO. Karan Bolaria, head of Godrej Fund Management, a
subsidiary of Godrej Properties Ltd, has been appointed its (Godrej Fund
Management's) CEO and will report to Pirojsha A Godrej. Pirojsha A Godrej, who
joined Godrej Properties Ltd in 2004, was appointed its MD and CEO in 2012 and
during his tenure, the company went on to become one of the fastest-growing
real estate developers in India. The company’s shares closed at Rs372.80,
up 7% on the BSE. The Total Investment & Insurance
Solutions
Car
maker Ford India on Thursday said it sold 14,259 vehicles last month up from
Rs12,834 units sold in the same month a year ago. "We continue to grow
faster than the industry which is a testament to our strategy focused on
product led innovation, delivering differentiated customer experience and
busting the myth of Cost of Ownership," Anurag Mehrotra, Executive
Director Marketing, Sales and Service was quoted as saying in the statement.
"The industry continues to face short-term headwinds even as long-term
outlook continues to be positive. The outlook is further strengthened by the
government's road map to boost rural economy, provide relief to personal income
tax, and investment in further building the infrastructure," he added. The
S & P BSE Auto Index closed at 22,322.07, down 1.07% on the BSE. The Total Investment & Insurance Solutions
Cummins
India reported 18% year-on-year growth in net profit at Rs198 crore for the
quarter ended December 2016 (Q3FY17), on the back of healthy operational
income. Total income from operations increased by 17.8% at Rs1,453 crore in
Q3FY17 against Rs1,233 crore in the corresponding quarter of previous year.
EBITDA (earnings before interest, tax, depreciation and amortization) margin
expanded 158 basis points to 15.58% compared to 14% in the last year. “We
continued to see growth in all our domestic markets largely driven by
Government investments in infrastructure. We did see a minor impact of
demonetization on the demand for our low kilowatt generators,” said Anant J
Talaulicar, Chairman & Managing Director, Cummins India. “The company
remains optimistic about its growth prospects, particularly if the government
continues its emphasis on economic growth,” he added. The board of directors
has declared an interim dividend of Rs5 per equity share of Rs2 each for the
financial year 2016-17. The shares of the company closed at Rs902.50, up 6.31%
on the BSE on Thursday.
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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