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26
July 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex might stagnate. The
major indices of the Indian stock markets were range-bound on Wednesday and
closed with gains 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)
Indian
equity markets traded at a fresh high during the mid-afternoon session on
Wednesday on expectations of healthy quarterly results, coupled with broadly
positive cues and intense buying activity witnessed in metal, automobile and
capital goods stocks. However, some gains were capped as investors continued to
book profits. Caution also prevailed in the global markets ahead of the outcome
of the two-day US Federal Open Market Committee meet later in the evening. The
wider Nifty of the National Stock Exchange (NSE) traded above the 10,000-level
and scaled an intra-day high of 10,010.80 points. On the NSE, there were 736
advances, 738 declines and 59 unchanged. The advance-decline ratio of Nifty on
the NSE stood at 19 advances, 31 declines and 1 unchanged. Top gainers on NSE
were Infratel, Indiabulls Housing Finance and Vedanta, while top losers were
Zee Entertainment, Eicher Motors and Tata Motors.
The
key Indian equity index -- NSE Nifty 50 -- has the potential to sustain beyond
the 10,000-point mark, contingent on healthy quarterly results outcome, experts
opined on Tuesday. The optimism over the continued uptrend on NSE Nifty comes
after the index breached the 10,000 points mark during the early-morning trade
session on Tuesday.
Paint
manufacturer Asian Paints reported a 20.23% fall in its consolidated net profit
at Rs440.74 crore for the quarter ended June 30, 2017 as compared to Rs552.56
crore in the corresponding quarter last year. Its total income increased by
nearly 5% to Rs4,306.60 crore during the quarter under review as against
Rs4,103.56 crore in the same period last year. “The decorative business in
India registered low single digit volume growth in the current quarter with the
business getting impacted especially in the month of June due to GST roll-out
from July 1,” said its Managing Director and CEO K.B.S. Anand. "Good
demand conditions in the auto original equipment manufacturer and general
industrial business segment led to improved performance of the automotive
coatings JV. In the industrial coatings JV, Industrial Liquid Paints segment
registered good growth," he said. The company’s shares closed at
Rs1,135.50, down 1.43% on the BSE.
Software
major Wipro tied up with global IT major Hewlett Packard Enterprise (HPE) to
offer IT (information technology) infrastructure solutions to enterprises on
pay-per-use billing. "The consumption-based or pay-per-use IT
Infrastructure procurement and provisioning will be offered to HPE and our
customers, globally," said the outsourcing firm in a statement here. The
partnership will enable Wipro to leverage HPE capacity to offer flexible and
scalable IT infrastructure services for digital transformation of the latter's
customers. "The alliance will enhance security, agility, scalability of
our customers' IT infrastructure and help them ascertain and regulate the public
cloud economics of their data centres," asserted the statement.
Highlighting the significance of the tie-up with HPE, Wipro Chief Executive
Abidali Neemuchwala said the consumption-based model would allow the company to
offer variable pricing for the IT infrastructure value chain. The company’s
shares closed at Rs289.95, up 0.03% on the BSE. The Total Investment & Insurance Solutions
Two-wheeler
major Hero MotoCorp Ltd. reported a net profit of Rs914 crore for the quarter
ended June 30, 2017 up from Rs883.09 crore posted for the quarter ended June 30
last year. The company has logged a total income of Rs8,744.61 crore for the
period ended June 30, 2017 -- up from Rs8,131.03 crore earned during the
corresponding quarter of the previous fiscal. The company’s shares closed at
Rs3,714.80, up 0.21% on the BSE.
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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