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23
August 2017
I had
mentioned in Tuesday’s closing report that Nifty, Sensex might rally a bit. The
major indices of the Indian stock markets rallied on Wednesday and closed with
handsome 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)
Positive
global cues pushed the key Indian equity indices -- the NSE Nifty 50 and the
BSE Sensex -- higher during mid-afternoon trade session on Wednesday. According
to market observers, healthy buying in pharma, banking and IT (information
technology) sector stocks supported equity indices' upward trajectory. The BSE
Sensex and NSE Nifty opened higher on Wednesday against their respective
previous session's close. The Indian rupee also opened on a strong note against
the US dollar. Each of the three major indices on Wall Street (USA) posted
their best one-day percentage gains in over a week ahead of the annual meeting
of central bankers in Jackson Hole on Friday. On the NSE, there were 981
advances, 448 declines and 48 unchanged. The
Total Investment & Insurance Solutions
The
Mukesh Ambani-led Reliance Industries Ltd (RIL) on Wednesday announced that it
has become the biggest importer of ethane from the US in 2017, a development
that follows the commissioning of the firm's ethane gas project at its Dahej
manufacturing facility earlier this year. The ethane will be used as feedstock
for RIL's cracker facilities at Dahej and Hazira in Gujarat and at Nagothane in
Maharashtra. The company said the ethane shipments to RIL constitute 48% of
total US exports. RIL shares closed at Rs1,582.05, up 1.44% on the NSE.
The
Finance Ministry on Wednesday formally announced the launch of the new Rs200
note. "The central government hereby specifies the denomination of bank
notes of the value of 200 rupees," a Gazette notification said. The
notification has been issued under Section 24 of the Reserve Bank of India Act
(RBI), 1934, and on the recommendations of the Central Board of Directors of
the RBI. Earlier, Minister of State for Finance Santosh Kumar Gangwar told IANS
that Rs200 note, printing of which had begun, would be in circulation
soon.
Reliance
Capital Ltd, part of the Anil D Ambani-led Reliance Group, on Wednesday
announced the launch of the Employees' Stock Option (ESOP) Scheme 2017. In a
statement here, the company said that under the scheme it has granted ESOPs
with a notional value of approximately Rs300 crore to 500 employees across its
various group units, and eligible employees have received options on Reliance
Capital listed stock and/or phantom shares of its unlisted operating
businesses. The ESOPs comprise of 9,21,000 shares of Reliance Capital plus
shares/ phantom shares of operating subsidiaries and associates. The grants
have been approved by the Board of Directors of Reliance Capital and the
respective group companies. The scheme is part of Reliance Capital's Rewards
Programme aimed at retaining and incentivising key employees for their
contribution to the growth and profitability of the company, the statement
said. The shares of the company closed at Rs766.65, up 3.00% on the BSE.
Hindustan
Copper Ltd (HCL) is focusing on Rs5,000 crore of expansion projects which will
be executed over the next three to four years, a top company official said on
Tuesday. "We are focusing on expansions projects over the next 4-5 years
and the investment would be around Rs5,000 crore," company's Chairman KD
Diwan told reporters here. Of the total investments, around Rs2,000 crore would
be made in mining and rest for manufacturing of copper cathodes. Its
Malanjkhand underground mine with a capacity of 50 lakh tonnes has been making
progress and it is expected that the ore production will commence from December
2018, he said. "The investment for the project would be around Rs1,856
crore," an official of the company said. During the current financial
year, it expects to make progress in mine development activity with the appointment
of MDO for Banwas mine at Khetri. The company has obtained environment and
forest clearances for its Kendadih and Rakha mine re-opening projects. The
company’s shares closed at Rs62.05, up 1.72% on the NSE.
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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