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12 September 2017
I had
mentioned in Monday’s closing report that the benchmarks Nifty and Sensex would
turn up. On Tuesday, major indices on the Indian stock markets rallied and
closed with significant gains over Monday’s close. The trends of the major
indices in the course of Tuesday’s trading are given in the table below: The Total Investment & Insurance
Solutions
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| Major Indices (The Total Investment & Insurance Solutions) |
The
key Indian equity indices were trading higher on Tuesday afternoon ahead of the
macro-data scheduled later in the day. Investors’ hope for healthy
macro-economic numbers, along with positive global cues on the back of easing
geo-political tensions, lifted the key Indian equity indices -- the BSE Sensex
and the NSE Nifty50 -- on Tuesday. On the NSE, there were 1,009 advances, 688
declines and 75 unchanged. The Total
Investment & Insurance Solutions
State-run
power producer NTPC Ltd is expecting to complete the acquisition of the Chhabra
Thermal Power Plant from the Rajasthan government in a month or two, an
official said on Tuesday. "We are taking over Chhabra power plant and
going by regulated depreciated book value subject to approval of Central
Electricity Regulatory Commission. The running plant is of 1,000 MW and 1,320
MW capacity is under construction. The cost of the running plant comes to
around Rs4,000 crore," company Director (Finance) K Biswal said.
"The
deal is expected to be over in a month or two," he said on the sidelines
of the Indian Coal Markets Conference. In January, a tripartite Memorandum of
Understanding (MoU) was signed between NTPC, Rajasthan Rajya Vidyut Utpadan
Nigam Ltd (RVUN) and Rajasthan Urja Vikas Nigam Ltd. (RUVNL) for the transfer.
Under the MoU, four units of 250 MW each of the Chhabra Thermal Power
Plant will be transferred to NTPC in the first phase while two units of 660 MW
each will be transferred after commissioning. The company’s shares closed at
Rs170.35, down 0.32% on the NSE. The Total
Investment & Insurance Solutions
According
to a study, if India has to maintain a sustained gross domestic product (GDP)
growth of 9%-10% per annum, it is crucial that the manufacturing sector grows
steadily at 14%-15% per annum over the next three decades. The joint report by
ASSOCHAM-EY stated that while the Goods and Services Tax (GST) has to a large
extent addressed prevailing regulatory issues, states across India must
individually look into bureaucratic obstacles along with other obstructive
regulations and policies on priority, based on their own manufacturing goals.
"Manufacturing sector in each Indian state and union territory (UT) has
the potential to grow either directly - by setting up new industries - or by
creating ancillary facilities, infrastructure and necessary forward-backward
linkages to existing ones," the study said. The S&P BSE India
Manufacturing Index closed at 442.84, up 1.37% on the BSE. The Total Investment & Insurance Solutions
Airline
major Jet Airways on Monday said that it plans to induct Harsh Mohan in its
board as a nominee of its partner Etihad Airways. "Harsh has gained wide
aviation experience and financial acumen from his past associations in the
aviation field and is currently the Chief Group Support Services Officer at
Etihad Aviation Group," said Naresh Goyal, Chairman Jet Airways at the
company's annual general meeting held. The
Total Investment & Insurance Solutions
Goyal
said that three-year "young strategic partnership" with Etihad
Airways continues to deliver synergies across all areas, including network
growth, revenue enhancement, operational efficiencies and cost improvement.
"The resultant synergies enabled 1 million passengers to connect
between India and North America, Europe, Africa and the Middle East over Abu
Dhabi. Connections from 15 points in India have been possible as a result of
this cooperation," he said. The airline’s shares closed at Rs581.80, up
1.70% on the BSE.
India's
annual retail inflation for August shot-up a full 1% to 3.36%, official data
showed on Tuesday. According to the data from Ministry of Statistics &
Programme Implementation, the August's consumer price index (CPI) inflation
rose to 3.36% from 2.36% in July. Rising inflation could lead to an increase in
interest rates through RBI (Reserve Bank of India) decision-making and the
market could turn a little bearish on this count.
Tata
Steel UK on Monday said it has separated itself and a number of affiliated
companied from the British Steel Pension Scheme (BSPS), following the
regulator's confirmation on its pensions deal. "Tata Steel UK has received
confirmation from the Pensions Regulator that it has approved a Regulated
Apportionment Arrangement (RAA) in respect of the British Steel Pension Scheme
(BSPS). The BSPS has now been separated from the steel producer and a number of
affiliated companies," the company said in a statement. As part of
the RAA, a payment of 550 million pounds from the company has been made to the
BSPS and shares in Tata Steel UK, equivalent to a 33% economic equity stake in
the company, have been issued to the BSPS Trustee under the terms of a
shareholders' agreement, the company said in a statement. The steel producer
has also agreed to sponsor a proposed new pension scheme, subject to certain
qualifying conditions being met. Now that the RAA has completed, all members of
the BSPS will be invited to transfer to the new scheme. The shares of the
company in India closed at Rs683.15, up 3.30% 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
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| Asian Indices (The Total Investment & Insurance Solutions) |
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