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21
June 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex Nifty, Continues to be
on an Uptrend. The major indices of the Indian stock markets were range-bound
on Tuesday and closed with marginal losses over Tuesday’s close. The trends of
the major indices in the course of Wednesday’s trading are given in the table
below: The Total Investment
& Insurance Solutions
 |
| Major Indices (The Total Investment & Insurance Solutions) |
Engineering
and construction major L&T rose on high volumes on reports the Government
of India offloaded a part of its stake in the company via block deals today.
According to reports the Government of India sold 2.5% stake in the company via
block deals on the stock exchanges today, 21 June 2017. On the BSE, 2.39 crore
shares were traded on the counter as against the average daily volumes of 1.97
lakh shares in the past one quarter. Most PSU bank stocks rose. Private bank
stocks saw mixed trend. Most metal and mining stocks fell.
Meanwhile,
media reports suggested that ABB India is in discussions with L&T to
acquire the latter's electrical and automation division. According to reports,
ABB has offered over Rs 14000 crore for the deal and discussions are yet to
arrive at a final figure. In a separate development, NHPC announced after
market hours yesterday, 20 June 2017 that it has awarded EPC contract for the
development of 50 megawatts (MW) Solar Power project in Tamil Nadu to L&T
for an amount of Rs 287.48 crore. The project is slated to complete in 9
months.
Shares
of aviation firm rose as crude oil prices extended recent losses. SpiceJet went
up 4.03% and InterGlobe Aviation gained 1.51%. The Total Investment & Insurance Solutions
Alembic
Pharmaceuticals rose 2.28% after the company said that it has received approval
from the US Food & Drug Administration (USFDA) for its abbreviated new drug
application for Candesartan Cilexetil Tablets, 32 mg. The approved ANDA
is therapeutically equivalent to the reference listed drug product Atacand
Tablets, 32 mg of AstraZeneca Pharmaceuticals LP. The drug is indicated in
treatment of hypertension in adults and children and treatment of heart
failure. Candesartan Cilexetil Tablets, 32 mg have an estimated market size of
$27 million for twelve months ended December 2016. The Total Investment & Insurance Solutions
AstraZeneca
Pharma India gained 1.62% after the report suggested that company received
marketing authorisation from the Drug Controller General of India for
Symbicort. Symbicort is indicated for treatment of severe asthma and for
patients with moderate to severe chronic obstructive pulmonary disease (COPD)
with frequent symptoms and a history of exacerbations, report added. The Total Investment & Insurance Solutions
ICICI
Bank fell 0.53%. The company announced that the Committee of Executive
Directors of the Bank at its meeting held on 20 June 2017 has approved the
proposal for fund raising by way of issuance of senior unsecured long term
bonds in the nature of debentures in single/multiple tranches on private
placement basis. The announcement was made after market hours yesterday, 20
June 2017. The Total Investment & Insurance
Solutions
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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
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| Asian Indices (The Total Investment & Insurance Solutions) |
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