Contact Your Financial Adviser Money Making MC
7
March 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex were rising in lower
trading volumes. The major indices of the Indian stock markets were range-bound
on Tuesday and closed with minor 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)
India Vix closed at 13.88, up 1.72%.
NSE turnover was at 93.69 crore.
Indian equity markets traded on a
negative note during the mid-afternoon trade session on Tuesday as negative
global cues and selling pressure witnessed in metal, banking and healthcare
stocks subdued investors' sentiments. The BSE market breadth was tilted in
favour of the bears -- with 1,570 declines and 1,080 advances. The CNX Nifty
traded with sideways to bearish sentiments due to profit booking. Banking,
pharma, auto, oil-gas, textile and telecom sector stocks faced resistance at
higher levels and traded with mixed sentiments. Media-entertainment and power
sector stocks traded with firm sentiments due to buying support, whereas
aviation, FMCG and cement sector stocks traded with mixed sentiments due to
profit booking. On the NSE, there were 672 advances, 964 declines and 90
unchanged.
Dismissing British media reports
that Tata Steel UK may scrap merger talks with German group ThyssenKrupp, the
steel maker on Monday said it is "in constructive discussions" with
the German conglomerate. "Tata Steel would like to inform that it
continues to be engaged and is in constructive discussions with ThyssenKrupp
regarding a potential merger of the steel businesses of the respective
companies in Europe," the steel producer said in a regulatory filing to
BSE. It however also said "until a definitive agreement" is reached,
there can be "no assurances that these discussions will result in a
transaction". The Sunday Times newspaper on Sunday said that Tata Steel is
considering a "daring plan to break off a planned merger" of its
European business with those of the German conglomerate. Such a deal with the
German steel giant, talks on which were announced by Tatas last year, could
lead to the formation of a European steel behemoth with blast furnaces in
Wales, the Netherlands and Germany. Tata Steel shares closed at Rs482.00, down
2.22% on the BSE.
The Total Investment & Insurance Solutions
Coal India Ltd (CIL) on Monday said
its Board of Directors approved payment of interim dividend for 2016-17 at
Rs18.75 per share. "The Board of Directors of CIL in its meeting on Monday
have approved payment of interim dividend for the financial year 2016-17 at
Rs18.75 per share of the face value of Rs10 as recommended by the audit
committee of CIL in its meeting," the company said in a regulatory filing
to BSE. The interim dividend will be paid from March 21. Coal India shares
closed at Rs322.85, down 0.26% on the BSE.
Software major Tech Mahindra on
Monday announced acquiring the US-based healthcare IT consulting firm CJS
Solutions Group LLC to strengthen its place in the domain. "We will make
an upfront payment of $89.5 million (Rs597 crore) for 84.7% equity stake and
the balance 15.3% of the stock will be acquired over three years," said
the city-based company in a statement. Based at Jacksonville in Florida, CJS
has $110-million enterprise value and posted $114-million revenue for fiscal
2015-16, ending September 2016. The buy-out will also help Mahindra access CJS
marquee customers and healthcare consultants. CJS solutions enhance efficiency
of physicians, hospitals, ancillary facilities, clinics, governmental health
bodies and public health organisations. As part of HCI Group, CJS also offers
Doctor of Business Administration (DBA) course with specialisation in
healthcare management for professionals. "As healthcare is driving adoption
of digital technologies, the acquisition will position us as a key player in
the domain and provide an opportunity to go deeper in the space via EMR
implementation," AsaidA Chief Executive CP Gurnani in the statement. The
Group works with tier-I healthcare service providers in the US and Britain,
focusing on implementation of Electronic Health Record and Electronic Medical
Record software, training and support services. The Group has a large pool of
Epic and Cerner (healthcare software) certified professionals and CJS is a
leading implementation firm for global firms. With about 500 professionals, the
company has presence in Europe, Middle East and Asia Pacific. Tech Mahindra
shares closed at Rs499.80, down 0.11% on the BSE.
Jet Airways on Monday said that it
has entered into a codeshare partnership with Fiji Airways to offer seamless
connectivity between India and Fiji via Singapore and Hong Kong. According to
the Indian airline major, codeshare agreement will address the growing demand
for travel between India and Fiji. "With the governments of both countries
making focused efforts to further strengthen trade, tourism and cultural ties,
we believe this codeshare partnership will play a pivotal role in these
endeavours by enabling seamless connectivity between both countries," said
Gaurang Shetty, Whole-time Director, Jet Airways. The airlines’ shares closed
at Rs436.70, down 0.14% 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
 |
| Asian Indices (The Total Investment & Insurance Solutions) |
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