Contact Your Financial Adviser Money Making MC
30 August 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex might rise a bit more.
On Tuesday, the market report was not published by Moneylife, as the office was
closed due to heavy rains in Mumbai. Geo-political tensions, foreign fund
outflows dragged the equity markets lower on Tuesday. On Wednesday, the major indices
of the Indian stock markets rallied and closed with handsome gains over
Tuesday’s close. The Total Investment
& Insurance Solutions
A
day after closing at their lowest levels in a week's time, key Indian equity
indices bounced back to trade with substantial gains during the mid-afternoon
session on Wednesday as positive global cues and buying in oil and gas, metal
and banking stocks lifted investors' sentiments. According to market observers,
buying in index heavyweights like HDFC, Reliance Industries, Adani Ports and
Coal India aided the upward trajectory of the NSE Nifty50 and the BSE Sensex.
On the NSE, there were 1,114 advances, 322 declines and 54 unchanged.
After
a sharp fall in the previous session, the benchmark indices opened higher on Wednesday
ahead of derivatives expiry of August series due on Thursday. Positive trend in
Asian markets and on Wall Street, after concerns about North Korea's firing of
a missile over Japan ebbed, aided the sentiment, pointed out market analysts.
Shares
of Bank of Baroda, Tata Power, Tata Motors DVR and ACC fell up to 3% lower as
these companies will move out of the NSE's benchmark Nifty 50 index from
September 29. Top gainers on NSE were Indian Oil Corporation, Hindalco and
Vedanta, while on the losing side were HCL, Zee and Tech Mahindra. The Total Investment & Insurance Solutions
Maruti
Suzuki India on Wednesday announced the upgrading of its retail channel for
better customer service as the re-branded 'Maruti Suzuki Arena' that will
require its dealers to invest in redesigned showrooms over the next five years.
"Besides providing a more comfortable ambience for buyers, key to the
new-look dealerships is the digital connectivity offering a seamless experience
of the car going from online to offline at the showroom," an official of
India's biggest car maker said here at the launch event. The company website
has been suitably upgraded. The investment in re-doing the more than 2,000
dealerships across India would be made by the dealers themselves who have readily
agreed to it, said R.S. Kalsi, Senior Executive Director (Marketing and Sales).
"About 80 showrooms of the 2,050 in India will be converted to the Arena
within this financial year," he said, adding the other
"partners" will upgrade to the Arena format within three to five
years. "With today's launch, the company will have four distinct retail
channels -- Arena, Nexa, Maruti Suzuki Commercial and True Value. Arena is set
to usher in a new chapter in our sales journey and help attract new buyers,"
said Chief Executive Kenichi Ayukawa. The company’s shares closed at
Rs7,557.45, up 0.51% on the NSE.
IT
(information technology) major HCL Infosystems on Tuesday said that it will
raise Rs500 crore by "rights issue of shares to existing
shareholders". According to a BSE filing, the company's board approved the
plans to raise the equity capital in its meeting held on Tuesday. "The
Board of Directors... approved the recommendations of its Capital Raising
Committee to go for a rights issue of shares to existing shareholders of the
company as a mode of raising equity capital aggregating up to Rs500
crore," the filing said. The company’s shares closed at Rs47.75, down
0.10% on the NSE. The Total Investment & Insurance
Solutions
Hailing
the return of co-founder Nandan Nilekani at the helm of his troubled global
software major, Infosys founder N.R Narayana Murthy on Saturday hoped 'Acche
Din' (good days) would be back at the $10 billion IT behemoth. "I wish
Nandan the best of everything in his effort to bring back 'Acche Din' to
Infosys," said Murthy, 70, in a statement to global institutional
investors in a conference call here. Nilekani, 62, took over as non-Executive
Chairman of the Board on August 24 after previous Chairman R. Seshasayee
resigned along with Co-Chairman Ravi Venkatesan, Vice-Chairman and former CEO
Vishal Sikka and Independent Directors Jeffery Lehman and John
Etchemendy. The Total Investment & Insurance
Solutions
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