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26
September 2017
I had
mentioned in Monday’s closing report that Nifty, Sensex might try a weak
bounce. The major indices of the Indian stock markets were range-bound on
Tuesday and closed with minor gains over Monday’s close. The trends of the
major indices in the course of Tuesday’s trading are given in the table below:
 |
Major Indices (The Total
Investment & Insurance Solutions)
Key
Indian equity indices were dragged lower during the mid-afternoon trade session
on Tuesday as rising tensions in the Korean Peninsula dented investors'
risk-taking appetite. According to market observers, broadly negative global
indices and subdued domestic growth outlook too dampened key indices.
The
market made a subdued start on Tuesday, in line with a sluggish Asian opening,
as worries over North Korea made investors cautious, observed market analysts.
FMCG (fast moving consumer goods), consumer durables, banking and PSU (public
sector undertaking) banking stocks were in the red, losing up to 0.32%. Some
losses were pared by buying in metals and realty stocks. The rupee weakened by
18 paise to a fresh six-month low of 65.28 against the US dollar during early
trade. The Total Investment & Insurance Solutions
The
State Bank of India (SBI) on Monday lowered the penalty on savings accounts for
non-maintenance of minimum balance while exempting the accounts of minors and
pensioners. The largest public sector bank had levied penalty for not
maintaining minimum balance in its savings accounts starting April 1. The Jan
Dhan and Basic Savings Bank Deposit Accounts were already exempt from this. SBI
shares closed at Rs257.50, down 0.44% on the BSE.
Reliance
Capital said on Tuesday said that it will setup a standalone health insurance
company. According to Reliance Capital's Executive Director Anmol Ambani, the
firm has received "round 1 approval from the IRDA". "We expect
to become operational beginning early next year," Ambani said while
addressing shareholders during the company's annual general meeting held here.
"There are three factors indicating significant growth potential in retail
health insurance -- Changing demographics: a younger India with higher income,
higher assets, and more financially aware -- the rising cost of healthcare --
an increase in lifestyle related ailments," he added. Reliance Capital
shares closed at Rs620.55, down 0.76% on the BSE. The
Total Investment & Insurance Solutions
In
a bid to reach out to customers globally, fast moving consumer goods (FMCG)
major Dabur India on Tuesday said it has tied up with global e-commerce giant
Amazon to launch around 30 products on the platform. The company said under
this collaboration, Amazon will help to take around 30 products from its
popular range such as Vatika hair oil, Meswak toothpaste, Red toothpaste and
Chyawanprash to consumers in the US. "We are starting with about 30
products... starting with oils, chyawanprash, honey and many others, and soon
will be populated with another 80 products which are in the pipeline and are
being discussed with the Amazon team and our team locally," Krishan Kumar
Chutani, Executive Director - Consumer Care Business, Dabur India, said here in
an interaction with reporters. Chutani added that the rest of the 80 products
will be launched in another six-to-eight months. According to Dabur India, it
will also offer an exclusive range of products specially created for Amazon's
global customers. Dabur India shares closed at Rs308.10, down 1.42% on the BSE.
The
Indian pharmaceutical sector, which has witnessed tepid growth on the domestic
and international fronts, is likely to see return of normalcy only by 2021,
pharma major Lupin's Executive Director and CFO Ramesh Swaminathan said on
Monday. "We have lined up quite a few products for launch. Year 2018-19
could be better than 2017-18. And the year 2021 should be pretty good for us...
65% of our portfolio is generics, it will not be a paradigm shift in immediate
future," he told BTVi in an interview. "We are not that big in
injectibles, but we are getting there. We have a rich pipeline for United States.
Look at the products to be launched in next three years. By 2021, we will see
levels of normalcy return to most companies, including us," the company
Chief Financial Officer (CFO) added. On the domestic front, the sector's growth
has been affected because the pharmaceutical companies resorted to de-stocking
in the first quarter of the current fiscal as caution ahead of the Goods and
Services Tax (GST) rollout from July 1. Swaminathan said the last few quarters
have been very difficult for the sector. "Price erosion was rampant
in the US. There could be a second wave of price erosion; could be 10% in one
year. The pain will last for a few more quarters. The first quarter was
impacted by the GST, (and) de-stocking in India," he said. "Going forward,
there are markets that have certainly moved. But for the US, it could be
lacklustre. Most companies are moving towards specialty. After this wave of
consolidation, you may see some stability," the Lupin Executive Director
added. He said that speciality and complex generics were going to be the
portfolio for pharmaceuticals in coming times. "We (Lupin) have been
working for the last four years for portfolio and acquired companies for
platform technologies. We are in the process of evaluating options on the specialty
front, where we could be looking at intellectual property (IP)-driven products.
These will bear fruit in the next couple of years," he said. "Lot of
these endeavours would call for deeper pockets. For us, research and
development is about 13%, but I don't think it will go up to 18% like in the
case of big pharma companies. We can use more innovative deeds and pass on the
risk to financial partners and share it on the upside. That's the way forward
for Indian companies," Swaminathan added. Lupin shares closed at
Rs1,005.15, up 1.40% on the BSE.
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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