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8
September 2017
I had
mentioned in last week’s closing report that Nifty, Sensex might continue to
rise haltingly. The major indices of the Indian stock markets suffered a
correction during the week and closed with small losses on Friday, over last
Friday’s close. The trends of the major indices in the course of the week’s
trading are given in the table below: The
Total Investment & Insurance Solutions
 |
Weekly Indices (The Total
Investment & Insurance Solutions)
Negative
Asian markets on the back of escalating geo-political tensions and heavy
selling pressure in banking and auto stocks dragged key Indian equity indices
-- the NSE Nifty50 and the BSE Sensex -- lower by almost one per cent each
during the mid-afternoon trade session on Monday. On the NSE, there were 445
advances, 925 declines and 41 unchanged.
Indian
equity benchmark indices edged lower in opening deals led by losses in pharma
heavyweights Lupin, Sun Pharma and Dr Reddy's Labs, observed market analysts.
Markets are back in the grip of a bear hug after North Korea's nuclear bomb
test on Sunday fanned the flames of geopolitical tensions. Stocks across Asia
tumbled as investors rushed to safe haven assets.
Power
major NTPC reported a growth of 12.55% in generation for August 2017 over the
corresponding period last year. "The total generation for the month was
22.347 billion units as against 19.855 billion units," the company said in
a statement. "The PLF (plant load factor) increased by 5.58% over the
corresponding period last year. Koldam Hydro Electric Power Project generated
electricity at its peak capacity during this period." According to the
company, in line with the government's thrust on renewable energy its solar
stations generated 455 million units from 870 mw capacity. NTPC shares closed
at Rs167.90, down 0.15% on the BSE, on Monday. The Total Investment & Insurance Solutions
On
Tuesday, the benchmark indices closed on a higher note as positive European
markets and persistent purchasing by domestic institutional investors (DIIs)
buoyed investors' sentiments. US stocks sank on Tuesday, with the S&P 500
stumbling to its biggest single-day loss in about three weeks. Asian stocks
also slipped, while the dollar was on the defensive with tensions in the Korean
Peninsula showing little signs of abating, pointed out market analysts.
Negative
global cues and heavy selling pressure in index heavyweights like ITC, Sun
Pharma, Lupin and Axis Bank, among others, pulled the two key Indian equity
indices lower during the mid-afternoon trade session on Wednesday. Sectorwise,
the healthcare and FMCG (fast moving consumer goods) indices plunged into the
negative zone. On the NSE, there were 832 advances, 811 declines and 322
unchanged. The Total Investment & Insurance
Solutions
North
Korea on Wednesday insisted that it will maintain its nuclear program even if
additional sanctions from the international community are imposed on the
regime, media reports said. It also accused the US of being the main culprit
for escalating tension and nuclear threat, Efe news reported. "The US is
terribly mistaken if it thinks it can frighten or persuade Pyongyang by talking
about 'all options' on the table and imposing the toughest sanctions and
pressure," the North Korean Foreign Ministry said in a statement released
late Tuesday by state news agency KCNA. The statement also referred to the UN
Security Council's emergency meeting on Monday and US Ambassador Nikki Haley's
request to adopt a new and tougher sanctions resolution against North Korea.
International markets can hence continue to be volatile in this context.
“The
short-term outlook continues to be challenging as the US generics industry is
facing rapidly changing market dynamics. Increased competitive intensity and
customer consolidation is leading to pressure on pricing; while continued delay
in approvals from the Halol facility is also impacting the company’s working,”
Sun Pharmaceutical managing director Dilip Shanghvi said in its annual report.
“In the Indian market, there is uncertainty amongst the trade channels due to
the GST (goods and services tax) implementation, although it may be temporary.
Given these factors, growth could be a challenge in FY18 (2017-18) and we
expect a single-digit decline in consolidated revenues for FY18 over FY17
(2016-17),” Shanghvi said. The company’s shares closed at Rs474.10, down 3.61%
on the NSE.
HCL
Technologies on Wednesday announced the acquisition of automation-driven data
management platform Datawave for an undisclosed sum. The shares of the HCL Tech
closed at Rs852.00, down 0.92% on the NSE. Mergers can happen between healthy
banks and not amongst weak ones and the central government should be careful in
this regard, said Reserve Bank of India's former Governor Raghuram G Rajan
said. Rajan said one has to be careful while merging public sector banks as
mergers take time. "It is better to do mergers when banks are healthy than
when they are unhealthy," he added. Rajan said in case of weak banks, more
time has to be spent on cleaning up their balance sheets.
Key
Indian equity indices -- the NSE Nifty50 and the BSE Sensex -- closed on a flat
note on Thursday with buying in automobile, metal and capital goods stocks. On
the NSE, there were 825 advances, 658 declines and 46 unchanged. The outlook
for Indian markets still remains subdued given continued concerns over the
escalating tensions around North Korea’s nuclear test, but analysts said
markets were still being supported by domestic retail investments, preventing
any steep losses. The Total Investment & Insurance
Solutions
The
West Bengal government will ratify the entry of IT major Infosys in the state,
Information Technology Minister Bratya Basu said on Thursday. "A note in
this regard will be prepared and placed before the cabinet for approval,"
Basu told reporters on the sidelines of an event organised by the Confederation
of Indian Industry (CII). He said that Infosys has agreed to the terms laid
down by the state government. The company would be given incentives on the
basis of whatever has been promised but no additional concessions would be
given. Chief Minister Mamata Banerjee had announced that the company would
start the Kolkata centre with an investment of Rs100 crore and an employment
potential of 1,000. Infosys, which was given 50 acres of land at Rajarhat by
the former Left Front government in 2010, was going slow on the project as the
new dispensation under the Trinamool-led by Banerjee was reluctant to grant the
Special Economic Zone (SEZ) status as promised to them earlier.
Diversified
company ITC has filed a Rs1,000-crore defamation suit against proxy advisory
firm IiAS at the Calcutta High Court for allegedly making 'defamatory'
statements against the company and its directors. The company’s shares closed
at Rs270.35, down 1.89% on the BSE, on Thursday. ICICI Bank said in a notice to
BSE that ICICI Bank Lombard General Insurance’s initial public offering got an
approval and it will open its IPO from 15 to 19 September. The bank’s shares
closed at Rs292.70, down 0.86% on the BSE, on Thursday.
After
a volatile day of trade, key Indian equity indices closed on a flat note --
marginally in the green -- on Friday (over Thursday’s close), buoyed by buying
activities in capital goods stocks. However, selling pressure in index
heavyweights like Dr Reddy's Lab, Mahindra and Mahindra, Bajaj Auto and Sun
Pharma, among others, capped gains. On the NSE, there were 572 advances, 896 declines
and 44 unchanged. Global cues were not pushing the Indian markets to be bearish
and the market trends on Friday were due to domestic factors, after North
Korea’s nuclear testing had been negative news in the course of the week. The Total Investment & Insurance Solutions
Tata
Motors said that it will launch two new SUV models in 2019. According to Tata
Motors' Managing Director and CEO Guenter Butschek, a five-seater SUV model is
expected to be launched by early-2019, followed by a seven-seater SUV.
Speaking on the sidelines of the 57th SIAM Annual Convention 2017,
Butschek pointed out that going forward the company plans to use two platforms.
The company plans to introduce new vehicles on its AMP platform and the LR
(Land Rover) platform which has been "modified indigenously" to suit
Indian customers. The shares of the company closed at Rs210.15, down 0.50% on
the NSE, on Friday.The Total Investment
& Insurance Solutions
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