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4
July 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex were on an uptrend. The
major indices of the Indian stock markets were range-bound on Tuesday and
closed flat. 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) |
Broadly negative global cues and selling
pressure in automobile, healthcare and FMCG (fast moving consumer goods) stocks
dampened investors' sentiments. On the NSE, there were 699 advances, 780
declines and 63 unchanged. There is market resistance when the indices try to
fall lower and so the medium trend of the market is bullish.
As India shifts to a cashless economy, cyber-threats are at a new high
with the number of such incidents occurring in banking systems increasing in
the last five years, a study here said on Tuesday. The joint study by Assocham
and PwC said that an ATM card hack hit the Indian banks in October last year,
affecting around 3.2 million debit cards. "Hence, efforts are needed to
enhance cyber security as businesses and citizens embrace this new digital
wave," the study noted. The Total
Investment & Insurance Solutions
Central Bank of India's shareholders have approved a proposal to raise
Rs6,500 crore through follow-on public offer (FPO), rights issue and qualified
institutional placement (QIP). The state-owned lender on Monday said its
shareholders approved the company's capital raising plans at the annual general
meeting (AGM) held on June 30 at Mumbai. Central Bank shares closed at Rs87.10,
down 0.23% on the BSE. The Total
Investment & Insurance Solutions
The Delhi High Court on Monday asked budget
carrier SpiceJet to pay Rs250 crore as cash deposit and Rs229 crore in bank
guarantee in connection with a share transfer dispute with previous owner
Kalanithi Maran. A division bench of Justice S. Ravindra Bhat and Justice
Yogesh Khanna, while dismissing the plea of SpiceJet and its co-founder Ajay
Singh against a single judge order directing it to deposit Rs579 crore in share
dispute with Maran, asked them to pay the money. SpiceJet was asked to deposit
Rs250 crore in cash by August 31. This is one more blow to the ailing aviation
sector after Kingfisher Airlines collapsed a few years ago. The airlines’
shares closed at Rs126.80, down 1.48% on the BSE.
Leading footwear brand Khadim India on Monday said it has filed a Draft
Red Herring Prospectus (DRHP) with market regulator SEBI for its initial public
offering (IPO). According to the company, the IPO will comprise of a fresh
issue aggregating up to Rs500 million and an offer for sale of up to 6,574,093
equity shares by the "selling shareholders". "The equity shares
will have a face value of Rs10 each. The issue will be on book-building basis
and the price band decided later," the company said in a statement.
"The net proceeds from the fresh issue are proposed to be utilised towards
prepayment or scheduled repayment of all or a portion of term loans and working
capital facilities availed by the company and for general corporate purposes."
As of March 31, the company operated 829 'Khadim's' branded exclusive retail
stores across 23 states and one union territory in India, through their retail
business vertical. In a range-bound stock market, with the indices often
closing flat, IPOs of companies with good financial results are likely to do
well. The Total Investment &
Insurance Solutions
While petroleum is yet to come under the GST, petrol prices per litre
have decreased by Rs2.35, and of diesel by Rs1.02, ever since the daily
revision in rates was implemented throughout the country from June 16. On that
day, petrol cost Rs65.48 a litre in Delhi, while diesel sold for Rs54.49 per
litre. Prices vary at locations according to state taxes. The Goods and
Services Tax (GST), which rolled out pan-India, except in Jammu and Kashmir, from
July 1 is a unified national tax subsuming the earlier myriad central and state
levies and the petroleum industry has been demanding inclusion in the new
regime so as not to lose the benefit of input tax refund available under the
GST. Indian Oil Corporation shares closed at Rs382.15, down 1.18% on the BSE. The Total Investment & Insurance
Solutions
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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