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26
April 2017
I have
mentioned in Monday’s closing report that Nifty, Sensex will continue to trend
higher. The major Indian on ended with high gains, with closing Sensex above
30,000 for the first time. The trends of the major indices in the course of
Tuesday’s trading are given in the table below: The
Total Investment & Insurance Solutions
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Major Indices (The Total
Investment & Insurance Solutions)
Positive Asian stocks pushed the key
benchmark indices higher for third day in a row. The barometer index, the
S&P BSE Sensex, rose 190.11 points or 0.63% to settle at 30,133.35. The
Nifty 50 index rose 45.25 points or 0.49% to settle at 9,351.85. The Sensex and
the Nifty, both, hit record high in intraday day as well as closing basis.
Sentiment was also boosted after the ruling party at the Centre, BJP's massive
win in the Delhi civic elections.
IT major Wipro shed 0.8% to Rs
490.60 in volatile trade after hitting an intraday high of Rs 513 and intraday
low of Rs 489. The company's consolidated net profit rose 7.2% to Rs 2267 crore
on 4.86% rise in total income to Rs 15033.80 crore in Q4 March 2017 over Q3
December 2016. The result was announced after market hours yesterday, 25 April
2017. In its outlook, Wipro expects revenues from its IT services business to
be in the range of $1915 million to $1955 million for the Q1 June 2017. Wipro's
board recommended 1:1 bonus issue of shares.
LIC Housing Finance slipped 0.16%.
The company's net profit rose 18.12% to Rs 529.18 crore on 11.85% rise in total
revenue to Rs 3661.86 crore in Q4 March 2017 over Q4 March 2016. The result was
announced after market hours yesterday, 25 April 2017.
V-Mart Retail gained 1.77% after the
company said that it has opened a new store in Uttar Pradesh. The new store
opened is a fashion store. With this, the tally of stores in Uttar Pradesh is
17 composite & 44 fashion stores. This takes the total number of stores to
143 stores in 122 cities across 14 states, with 37 composite stores & 106
fashion stores with a total area of about 12.1 lakhs square feel, company said. The Total Investment
& Insurance Solutions
State-owned Indian Oil Corp (IOC)
has received green nod for upgradation of its Bongaigaon refinery for
production of BS-VI grade fuels in Assam at a cost of Rs 4,185 crore. The
company wants to upgrade its Bongaigaon Refinery (BGR) as the government aims
to implement BS-VI fuel in the entire country from April 2020 to curb
pollution. Oil firms will have to be prepared to retail BS VI-compliant fuel by
then. BGR, the eighth operating refinery of IOC, is situated at Dhaligaon in
Chirang district, 200 km west of Guwahati.
PVR Cinemas has signed a deal with
IMAX for five additional screens. Installing these five additional IMAX screens
will cost the company close to about Rs 10-10.5 crore per screen. So the total
cost will be about Rs 50-55 crore. Out of the five, two screens are being
planned to be fitted into cinemas, which are ready. So the revenue should start
trickling-in in about four months' time, he said. Remaining three screens are
planned for new sites of the company in Chennai, Hyderabad and Delhi. He
believes, the revenue for these three screens will be garnered by the year end. 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)
Overseas, most European stocks were
trading lower as markets eyed a fresh batch of corporate earnings, although the
first round of the French presidential election on Sunday still lent some
support. Asian indices ended higher following the rise in US stocks on the back
of strong earnings announcements and on expectations for US President Donald
Trump's impending tax reforms. In the US, stocks soared as McDonald's and
Caterpillar reported strong earnings, with the Nasdaq surpassing the 6,000 mark
for the first time.
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| Asian Indices (The Total Investment & Insurance Solutions) |
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