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25
April 2017
I have
mentioned in Monday’s closing report that Nifty, Sensex may rally further. The
major Indian on ended with high gains, with Nifty closing above 9300 for the
first time. The trends of the major indices in the course of Tuesday’s trading
are given in the table below:
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Major Indices (The Total
Investment & Insurance Solutions)
Key
benchmark indices logged strong gains, S&P BSE Sensex, jumped 287.40 points
or 0.97% to settle at 29,943.24. The Nifty 50 index surged 88.65 points or
0.96% to settle at 9,306.60. The Sensex hit its highest closing level in almost
three weeks. The Nifty hit a record high on intraday as well as closing basis.
Today's gains were led by index heavyweights ITC, HDFC and Reliance Industries
(RIL). The BSE market breadth was bullish – with 1467 advances, 1444 declines
and 169 unchanged. Similarly, on NSE, there were 803 advances, 707 declines and
64 unchanged.
RIL
gained 1.14% to Rs1,432.50 after consolidated net profit excluding exceptional
items rose 16.6% to Rs8046 crore on 45.2% growth in turnover to Rs92,889 crore
in Q4 March 2017 over Q4 March 2016. The result was announced after market
hours yesterday, 24 April 2017. RIL increase in revenue in Q4 was primarily on
account of increase in prices of refining and petrochemical products on the
back of higher oil prices. Turnover was also boosted by robust growth in retail
business. The Total Investment & Insurance
Solutions
RIL
said, Reliance Jio Infocomm, a subsidiary of RIL crossed 50 million subscribers
in just 83 days, and 100 million in 170 days, adding at an average rate of 6
lakh subscribers per day. Jio continues its rapid ramp-up of subscriber base
and as of 31 March 2017, there were 10.89 crore subscribers on the network. The Total Investment & Insurance Solutions
Auto
major Mahindra & Mahindra advanced 3.4% to Rs 1,307.50 on reports that a
foreign brokerage has upgraded the stock to outperform from neutral with
increased target price at Rs 1,500 from Rs 1,390 earlier. The brokerage house
cited potential for M&M's tractor business that will surprise positively
going ahead. Reports suggested that the brokerage believes with number of state
governments planning to introduce farm loan waivers, tractor demand could get
further boost. The brokerage added that weakness in utility vehicle market
already factored in by M&M. The Total
Investment & Insurance Solutions
IT
major Infosys announced that it is strengthening its engineering footprint in
Eastern Europe by opening its first office and delivery center in Karlovac,
Croatia. The announcement was made after market hours yesterday, 24 April 2017.
Infosys
said that in line with the company's strategy to establish global competency
centers, offering the best talent in the market and making it available to
customers globally, this delivery center (DC) also marks expansion into Eastern
Europe's established heavy engineering sector. The new facility will meet
near-shoring requirements, support engineering clients worldwide, as well as
offer research & development (R&D) services.
Textiles
firm Welspun India on Tuesday reported a 22.57% fall in consolidated net profit
at Rs154.48 crore for the quarter ended 31 March. Its net profit had stood at
Rs199.53 crore in the year-ago quarter. Total income of the company rose by
8.1% to Rs1,772.71 crore during the quarter under review as against Rs1,639.38
crore during the same period previous fiscal, Welspun India said in a BSE
filing. During financial year 2016-17, Welspun India’s consolidated net profit
fell to Rs362.37 crore as against Rs749.12 crore in the preceding fiscal, it
said. The company’s total income also rose to Rs6,721.09 crore in the just
concluded fiscal, from Rs6,014.29 crore in 2015-16. Its board has also
recommended a dividend of Rs0.65 per share.
The
top gainers and top losers of the major indices are given in the table below:
 |
Top Gainer (The Total
Investment & Insurance Solutions)
Overseas,
most European stocks nudged higher, with attention turned to earnings reports
and a deal involving luxury-fashion company Christian Dior a day after equities
rallied on the first-round result in France's presidential election. Business
confidence in France was steady in April amid improved conditions in the
factory sector, offset by a slip in service sector confidence. INSEE's headline
business confidence index was unchanged in April from the month before at 104.
Asian shares rose across the board. 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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